Krugman ‘knocked out of neoclassical orbit’ by Steve Keen’s meteoric rise!

April 05, 2012 00:30

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The internet has been abuzz over the blogosphere boxing match between the Nobel Laureate and NYT columnist, Paul Krugman, and debunker of economic conventional wisdom and superhero economist, Steve Keen. We'll break it down round by round. Next, JPMorgan Chase agreed to pay a $20m fine to settle allegations that the bank mishandled Lehman Brothers’ customer funds for roughly two years before the broker filed for bankruptcy court protection. We take a close look. And last Friday we exposed the myth of billionaire investor and regular Joe Warren "All You Can Eat" Buffett’s proclaimed desire to be taxed more. Now he's singing a different song…LITERALLY. The owner of the Omaha World-Herald newspaper serenaded a crowd singing I'm just a paper boy. We'll attempt to demystify the oracle's message.

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Comments (3)

laurenlysterfan 09.04.2012 01:03

Lauren, you and Dima could have really lambasted Warren Buffett had you read some of the biographies about him. When he purchased his first newspaper company (sorry, I forgot the name of it) many years ago, the first thing he did was to call a staff meeting and announce pay cuts for all the journalists and reporters! And then he had some wise-@rse comment for the journalists when they resisted. Again, I can't remember exactly what it was he said but it was something to the extent that it was the advertising that sold newspapers, not the journalists. Basically, he looked at journalism as a commodity. Just like any good capitalist pig, he commoditizes everything and everybody.

I actually worked for his first outside investor so I shouldn't be complaining. :) Plenty of Buffett money ended up in the hands of Russian (Soviet) nonconformist artists who were at the time being persecuted by the KGB.

Undo

zarniwoop 06.04.2012 02:02

time to ditch lauren (back to 3rd degree?), unless she buys advanced economics for dummies
and enough of the marionette hands, already!

Undo

Papa Celente raised no dummy 05.04.2012 09:00

To Gerald Celente

With regards,

You missed one elephant on your diatribe my friend

Robert D. 'Bob' Hormats (born April 13, 1943 in Baltimore, Maryland)[1] was sworn in as Under Secretary of State for Economic, Business, and Agricultural Affairs on September 23, 2009. Hormats was formerly Vice Chairman of Goldman Sachs (International). He joined Goldman Sachs in 1982. He served as Senior Deputy Assistant Secretary, from 1977 to 1979, and Assistant Secretary of State, from 1981 to 1982, at the Bureau of Economic and Business Affairs (now Bureau of Economic, Energy, and Business Affairs). He was Ambassador and Deputy U.S. Trade Representative from 1979 to 1981. He served as a senior staff member for International Economic Affairs on the United States National Security Council from 1969 to 1977, where he was senior economic adviser to Henry Kissinger, General Brent Scowcroft and Zbigniew Brzezinski. He helped to manage the Nixon administration's opening of diplomatic relations with China's communist government. He was a recipient of the French Legion of Honor in 1982 and the Arthur S. Flemming Award in 1974.[2][3] Hormats has been a visiting lecturer at Princeton University and served on the Board of Visitors of the Fletcher School of Law and Diplomacy and the Dean’s Council of the John F. Kennedy School of Government at Harvard University.[2]

Undo