Rain! Dammit!!Posted on 08/03/2017 5:25:10 AM PDT by NOBO2012
Remember Paul Krugman’s prognostication on election night, when it became apparent even to the New York Times that Donald Trump had won?
“If the question is when markets will recover, a first-pass answer is never.”
Two days later the Dow hit an all time high and 2 weeks later it hit 19K. In January it hit 20K, and in March, 21K. As of yesterday it had marched all the way to another all time high of 22K.
Paul Krugman, New York Times ‘economist’, was last seen praying for another market crash.
It might help if he prayed to the God of Abraham, Isaac and Jacob instead of the god of global warming.
Posted from: MOTUS A.D.
It might help if he prayed to the God of Abraham, Isaac and Jacob instead of the god of global warming.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
It constantly amazes me how many Jews do not believe in the existence of that God or even of any of the patriarchs of their founding (and longest living) religion.
That tagine was always right.
I knew Krugman personally (and far better than I wanted to) years ago. He used to be a young, smug, arrogant snob who believed in Keynesian economics and had no interest in checking those theories against facts. He’s changed - he is no longer young. Krugman is and always has been the perfect example of those elitists being rejected by Trump voters.
Note: My academic credentials are at least as “elite” as Krugman’s. The difference is I recognize how limited and narrow our expertise is, so I understand why it is both immoral and harmful for elitists to try to run the lives of others. Elites typically do one thing well: Beyonce sings, I do statistics and polling, and Tom Brady throws a football. Elites should be admired for the drive, focus, and effort that went into developing their talent. Elitists think doing their thing well makes their opinions in other areas more valuable than the opinions of others and that this gives them the right to run other people’s lives. I despise elitists, as should all decent people.
IYI
Intellectual Yet Idiot
That's how hateful they are... guess they figure if it all crashed they 'still have plenty for themselves' - they'll do ‘just fine’ - - only middle-class Americans and their retirement funds would be hurt.
They don't give a damn about us...
Remember that if you ever feel you can stop hating these liberal elite parasites...
Wonder what K’s FR logon is. We have some as pessimistic as he is.
Yes the market will come down some day.
The real question, did we take advantage of its ups?
As Nassim Taleb puts it:
IYI
Intellectual Yet Idiot!
Paul Krugman is the NY Slimes poster boy as a #1 “Intellectual-Yet-Idiot”!!
Our Governments, Universities/Colleges and many businesses/corporations are controlled and operated by the Intellectual Yet Idiots, who have been controlling our lives for decades. These Intellectual Yet Idiots control our media and most of DC and many states down to the county/city level.
Nassim Taleb Exposes The World’s “Intellectual-Yet-Idiot” Class!
What we have been seeing worldwide, from India to the UK to the US, is the rebellion against the inner circle of no-skin-in-the-game policymaking “clerks” and journalists-insiders, that class of paternalistic semi-intellectual experts with some Ivy league, Oxford-Cambridge, or similar label-driven education who are telling the rest of us 1) what to do, 2) what to eat, 3) how to speak, 4) how to think… and 5) who to vote for.
But the problem is the one-eyed following the blind: these self-described members of the “intelligenzia” can’t find a coconut in Coconut Island, meaning they aren’t intelligent enough to define intelligence and fall into circularities?—?, but their main skills is ability to pass exams written by people like them.
With psychology papers replicating less than 40%, dietary advice reversing after 30 years of fatphobia, macroeconomic analysis working worse than astrology, the appointment of Bernanke who was less than clueless of the risks, and pharmaceutical trials replicating at best only 1/3th of the time, people are perfectly entitled to rely on their own ancestral instinct and listen to their grandmothers (or Montaigne and such filtered classical knowledge) with a better track record than these policymaking goons.
What we have been seeing worldwide, from India to the UK to the US, is the rebellion against the inner circle of no-skin-in-the-game policymaking “clerks” and journalists-insiders, that class of paternalistic semi-intellectual experts with some Ivy league, Oxford-Cambridge, or similar label-driven education who are telling the rest of us 1) what to do, 2) what to eat, 3) how to speak, 4) how to think… and 5) who to vote for.
But the problem is the one-eyed following the blind: these self-described members of the “intelligenzia” can’t find a coconut in Coconut Island, meaning they aren’t intelligent enough to define intelligence and fall into circularities?—?but their main skills is capacity to pass exams written by people like them.
With psychology papers replicating less than 40%, dietary advice reversing after 30 years of fatphobia, macroeconomic analysis working worse than astrology, the appointment of Bernanke who was less than clueless of the risks, and pharmaceutical trials replicating at best only 1/3th of the time, people are perfectly entitled to rely on their own ancestral instinct and listen to their grandmothers (or Montaigne and such filtered classical knowledge) with a better track record than these policymaking goons.
Indeed one can see that these academico-bureaucrats wanting to run our lives aren’t even rigorous, whether in medical statistics or policymaking. They can’t tell science from scientism?—?in fact in their eyes scientism looks more scientific than real science. (For instance it is trivial to show the following: much of what the Cass-Sunstein-Richard Thaler types?—?those who want to “nudge” us into some behavior?—?much of what they call “rational” or “irrational” comes from their misunderstanding of probability theory and cosmetic use of first-order models.)
This is an excerpt. To read or copy the full article go to the link below:
http://www.zerohedge.com/news/2016-09-16/nassim-taleb-exposes-worlds-intellectual-yet-idiot-class
“Elites should be admired for the drive, focus, and effort that went into developing their talent. Elitists think doing their thing well makes their opinions in other areas more valuable than the opinions of others and that this gives them the right to run other people’s lives. I despise elitists, as should all decent people.”
The link below confirms why we should despise the elitists as decent people.
http://freerepublic.com/focus/bloggers/3574202/posts?page=9#9
My wife and I are in our late 70’s.
At our ages, we have to have minimum distributions from our IRA’s.
After Trump won his election twice, I increased our holdings in the few mutual funds we own in our IRA’s. Those funds have done very well this year and have increased in value.
Those increases have kept our monthly balances ahead of the game inspite of the minimal monthly deductions.
Younger relatives with good 401 K’s got out of some weak perfoming bond funds into good stock exchange funds, etf’s after the election. Their 401 K’s from November through July look really good.
Too bad the Never Trumpster’s on both sides didn’t enjoy these market gains. s/
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