Wednesday, July 13, 2011

Paul Krugman: The Man, The Myth, The Fraud

Of all the misfits and demented rejects that have the temerity to call themselves columnists at the New York Slimes, the most detestable of them all is Paul Krugman. Sure, there is Maureen the Moron and Comrade Friedman, but there's a special place in hell for the fraud known as Paul Krugman. Remember this from 1999 ? (Hat tip: Ann Coulter and her fabulous tome, Demonic.)

"The retreat of business bureaucracy in the face of the market was brought home to me recently when I joined the advisory board at Enron [Yes, that Enron. The same Enron that that cost investors billions and took the life savings of God knows how many people.] --a company formed in the '80s by the merger of two pipeline operators. In the old days energy companies tried to be as vertically integrated as possible: to own the hydrocarbons in the ground, the gas pump, and everything in between. And Enron does own gas fields, pipelines, and utilities. But it is not, and does not try to be, vertically integrated: It buys and sells gas both at the wellhead and the destination, leases pipeline (and electrical-transmission) capacity both to and from other companies, buys and sells electricity, and in general acts more like a broker and market maker than a traditional corporation. It's sort of like the
difference between your father's bank, which took money from its regular depositors and lent it out to its regular customers, and Goldman Sachs. Sure enough, the company's pride and joy is a room filled with hundreds of casually dressed men and women staring at computer screens and barking into telephones, where cubic feet and megawatts are traded and packaged as if they were financial derivatives. (Instead of CNBC, though, the television screens on the floor show the Weather Channel.) The whole scene looks as if it had been constructed to illustrate the end of the corporation as we knew it." ---Paul Krugman in his infamous "The Ascent of E-Man R.I.P.: The Man In The Gray Flannel Suit" article.

Instead of writing The Conscience of a Liberal, It looks like ol' Paulie should have wrote This Liberal Hack Has No Conscience.
Yes, I know this is old news. Yes, we have bigger fish to fry. I know I should be writing about more important things, especially since Chairman Obama and his socialist scheming have brought the United States to the brink of political and economic disaster. However, a day without calling out the hypocrisy of the 2+2=5 gang at the New York Slimes is like a day without sunshine.


Paul Mastin said...

You're right--Coulter's book is fabulous! Krugman's lack of conscience is striking.

Absolutely Nobama said...

Frightening, eh ?