Snortalicious: Former Enron adviser Paul Krugman joins progs’ war on “plutocrats”

Former Enron adviser Paul Krugman is the perfect cheerleader for the high-tech-toting Kamp Alinsky crusaders against capitalism.
Just perfect.
The lead paragraph of his glowing Occupy Wall Street paean today:
Panic of the Plutocrats
By PAUL KRUGMANIt remains to be seen whether the Occupy Wall Street protests will change America’s direction. Yet the protests have already elicited a remarkably hysterical reaction from Wall Street, the super-rich in general, and politicians and pundits who reliably serve the interests of the wealthiest hundredth of a percent.
The man who grabbed every opportunity to mock the Right and the Tea Party as an “insane,” fringe mob inciting violence now whitewashes the nutballs of Occupy Wall Street and explains the reaction of sane, working people to the entitled grievance-mongers stinking up the streets this way:
The way to understand all of this is to realize that it’s part of a broader syndrome, in which wealthy Americans who benefit hugely from a system rigged in their favor react with hysteria to anyone who points out just how rigged the system is.
That’s rich. Paul Krugman, man of the people. Snort.
In 1999 Paul Krugman was paid $50,000 by Enron as a consultant on its “advisory board,” and that same year he wrote a glowing article about Enron for Fortune magazine. But he would change his tune. After Enron collapsed in 2001, Krugman wrote several columns excoriating the company. (One featured what may be the most absurd howler in the history of op-ed journalism: “I predict that in the years ahead Enron, not Sept. 11, will come to be seen as the greater turning point in U.S. society.”) In most of these columns Krugman worked hard to link Enron to the Bush administration, and in one he actually blamed Enron’s consultants for the company’s collapse — while neglecting to mention that he, too, had been an Enron consultant.
Daniel Okrent, while ombudsman for the New York Times, wrote that “Paul Krugman has the disturbing habit of shaping, slicing and selectively citing numbers.” Indeed. But Krugman’s distortions were so rampant, and his unwillingness to correct them so intransigent, that Okrent — no doubt pressured into service by my Krugman Truth Squad column for NRO — did something about it. Okrent forced the Times op-ed page to adopt for the first time a corrections policy for op-ed columnists. That was in 2004. Later, when Krugman flouted that policy, the Krugman Truth Squad went to work on Okrent’s successor, Byron Calame, who pressed for the adoption of a new, more stringent policy in 2005.
Paul Krugman, an editorial columnist for The New York Times, said he was also paid $50,000 to serve on an Enron advisory board in 1999. He disclosed his connection in a Jan. 24, 2001, column about Enron.
“This was an advisory panel that had no function that I was aware of,” Mr. Krugman said today. “My later interpretation is that it was all part of the way they built an image. All in all, I was just another brick in the wall.”
A willing tool for the plutocrats. Until it was no longer politically expedient, that is.
Just like the fair-weather protest mobs shaking one fist at “corporations” — with the other fist wrapped around an evil corporate product or two…
Perfect. Just perfect.
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Related Occupy Wall Street mob links:
Occupy Boston hosts rally for terror suspect
Occupy DC/CODE Pink protests Wounded Warrior Annual Army run
Occupy Wall Street Protester Defecates On Police Car
$2 Million Spent on Police Overtime for Occupy Wall Street
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The most effective medicine to this is to take away their possessions and wealth as they so wholeheartedly demand.
Trust me, once you start to do that, you’ll be surprised at how this thing will diffuse or blow up in their face.
who knew, all you have to do to gain favor with the msm, is crap on cars, stop taking showers, and sleep on the street?
So you were paid to do nothing, in other words.
Now we’re down from blaming 1% to blaming .01%. Pretty soon Obumble will have singled out that one *^&$#%@ that is to blame for all our problems !
Yeah it is really hysterical to want to be able to get to work to earn a living each day. I wonder what kind of hysterical reaction Krugman would give if he was not able to get into the NYT offices due to protesters?
Yeah it is really hysterical to want to be able to get to work to earn a living each day. I wonder what kind of hysterical reaction Krugman would give if he was not able to get into the NYT offices due to protesters?
Have I missed something (again)? Are the ‘rich’ reacting with hysteria? The only reactions I have seen over this poop fest are rolled eyes.
Re pic: You can almost see the teeming mass of maggots behind those eyeballs.
These “occupy everything” protests are also getting favorable coverage by CNBC. And other than the Hermanator, the GOP seems to be taking George Will’s and E. B. Stoddard’s advice to the GOP to reach out to these people.
And everything Cain says and does is spun as a gaffer or tactical mistake by the “conservative” media. God help us.
It’s a form of rinoplasty, Phil.
Just when you think he can’t get any more ridiculous.
Photoshop Alert!:
( That clowny nose isn’t nearly big enough )
On a personal note, I worked for an Evil Mega Corp brokerage firm all during Enron’s demise ( but don’t tell anyone! )
Of the 18,000 + client relationships we enjoyed, virtually ALL of them wound up w/ worthless Enron wallpaper. ( They’d bought out Portland General Electric ) and most of those shares had been in the families for generations!
I can’t tell you how much fun it was to call each-and-every-one of those clients to inform them their shares were now worth 86 cents. Oh and send in $100k before the Close or your account will be turned over to Collections…
Finally! He’ll know whose a** to kick, I’m so relieved.
Nothing is the one thing he knows everything about.
What they need is an addadicktomy.
Krugman has a psychological disorder.
How else can you reconcile his public statements?
Either he’s disturbed or he is a pathological liar.
One of those useful idiots QUIT HIS JOB to go to the protest about joblessness and we’re the hysterical ones?
In case you missed it, because most of the “conservative” blogs are now ignoring Sarah Palin because she did not kneel down and kiss their hairy buttocks when she made her decision…
Sarah Palin Unshackled – Defending the Republic – http://tinyurl.com/6bdpfvz
What should be done is some group form a dozen or so kibbutz’s and bring these know nothing spoiled brats there and have them work for a year. I will flat guarantee 99% of them will be squealing like little pigs in the space of 2 weeks about how hard the work is, how they have no privacy etc etc.
The human toll in Shrugman’s wake:
And we’re listening to this man why exactly..?
On the Class Warfare thing… this is an attack strategy. To rally your loons and drag in as many other loons as possible, you have to create a villain.
Despite the fact that the liberals are responsible for the economic situation we have. 100% responsible. The idiot RINOs just stupidly went along for the ride.
Anyway.. they are 100% responsible, so they are fabricating an enemy/villain to blame so no one pays attention to the truth. At least, not in their base.
And Krugman is projecting. He IS the problem. One of the problems.
Of course Wiki makes no mention of PK’s involvement:
Marshall_Will said:
The human toll in Shrugman’s wake:
It’s probably safe to say that Krugman got paid in full, or nearly so, for his services. Unlike the employees or Enron who were devastated.
So Krugman clearly know what it must be like to screw people out of money.
That is the M.O. of Leftist “scientist/thinkers” like Krugman, fabricate numbers to meet the need.
I saw the link at HotAir to Kluelessman’s column but I just couldn’t go there. Former Enron adviser? Hahahahahahahah …
Now here’s a link that I gathered from another HotAir story linking to pix of occupiers’ trash at the MailOnline. This is the picture that in my opinion represents the biggest most vile piece of trash to appear with the occupiers.
http://i.dailymail.co.uk/i/pix/2011/10/08/article-2046586-0E4471C600000578-483_634x400.jpg
I find Krugman’s columns to be the most duplicitous of any main stream media pundit. He always blames conservatives and Republicans for every problem in the world particularly crimes committed by Democrats. What does Mr. Krugman have to say about John F. Kerry and his billionaire wife, The Kennedy Millionaire Klan, Nancy $250,000,000 Pelosi, Diane Feinstein and billionaire husband Blum – B? And then there is millionaire David Rockefeller, of the Standard Oil Rockefellers. Does short man Krugman accuse these Democrats of criminal or immoral actions in gaining their fortunes? Considering the lying crap Krugman puts out, he’s guilty of receiving money in a rigged system that pays vermin to write dishonest anti-conservative columns for leftist newspapers. Nobel Prizes seem to be awarded to an anti-Americans a lot these days.
This is the same old stuff with leftist.
I can have my wealth, but it’s the conservative wealthy’s money they want.
Really, though. it’s the middle classe’s money they want. That’s who will pay in the end. The small business owners etc.
Great googelly moogelly! It’s alive, it’s alive!
Why does the word “prostitute” come to mind?
Yet, he wrote a glowing report of Enron. I think the only “brick” is in Shrugman’s head.
One of these days, the pathetic diaper-soilers “occupying” Wall Street will figure out the real truth, which is…
It is indeed a conspiracy: a conspiracy surreptitiously set up by those who actually work, in order to make those who don’t come off as self-absorbed crybabies.
Add a few pinches of mis-placed Obama/Pelosi support declarations, and voila: Obummer gets his ass kicked next November!
Exactly. This is what they discovered during the FDR era with the income tax and the first March of Dimes polio drives. It was the great unwashed Middle Class that had the real cash, and everything that leftists do now is geared towards extracting the lion’s share of money from them while pitting them against “the rich”. An evil yet effective strategy because it hides what they are doing.
The evil corporation/business meme is another smokescreen because regardless what you tax businesses, the cost of that is ALWAYS transferred to the end product. So once again, the Middle Class pays the bill, this time for “corporate” taxes. It is a crime perpetrated by the Left that must be outed and punished.
NJ-Aviator said:
Of course! Momma didn’t raise no fool.
The ugly reality on the ground was, Pacific Northwest investors are a special breed. Ever true to their Gold Rush Days heritage and mentality, it’s hit the mother lode and strike it rich! ( Or… go home broke? )
Nothing less will suffice! They never listen and they’re all self-appointed ‘gurus’. At it’s peak the Portland Branch had $214 mil. in Assets Under Management. By October ’02 we were under a hundred and still falling.
Ever hear a grown man CRY on the phone? My job was to take the stack of Margin Calls faxed over from NY and call these people to break the news. Yeah, coming out of the 90′s everyone out here was on Margin.
They were -already- taking a beating on their [ equally 'visionary' ] positions in Intel, Dell, Oracle and Microsoft. To a lesser degree, Boeing, FLIR, Mentor Graphics, Sun-Microsystems, Starbucks and other PNW-based co’s.
When the Telecom’s went Non-Marginable all HELL broke loose! I used to be almost 5′ 11″. Now I’m barely 5′ 9″. Yeah, watching over $100 mil. evaporate into thin air tends to DO that to a fella?
NOW how about those stuffy, stodgy old T-bills we discussed back when you told me “Only call me on Tech-IPO’s or don’t waste my time!”?
More like another tool in the box.
Our beloved NYFD would end this mess of anarchy with a full, blown water hose.
Tip from Spinal Tap, “Crank it up to number 11.”
It’s one past the # 10.
Kinda reminds me of this fella.
Kind of OT but did you see the Immelt piece on 60 minutes with the CBS hag Stahl? They were talking about creating more jobs in the US and Immelt was telling her about a couple plants GE just started down south and the hag comes back with…..but those jobs only start at $13 per hour. Let’s see 9.1% unemployment and she thinks people won’t work for $13 per hour. These MSM pukes are sooooo elitist and out of touch.
I am not a fan of either of these scum bags and I was just cruising channels when I caught it.
You never know what you’re going to catch when you’re out just cruising.
“regardless what you tax businesses, the cost of that is ALWAYS transferred to the end product. So once again, the Middle Class pays the bill, this time for “corporate” taxes.”
Thank you. I am amazed at how many people don’t understand this. The last person in the chain, the person who buys a product or service, pays ALL the taxes that have been paid along the line, PLUS the sales tax.
Krugman is not only snort-worthy, but spit-worthy as well. Spit. Kind of in the same category as Jerry Rivers, whose program this weekend was entirely about the wacko’s crapping on the sidewalks of Wall Street. An entire hour? Where was his hour coverage of the Tea Party? Never mind.
By the way, I didn’t watch that love fest with Rivers, I just checked back occasionally to see if it was still on…but since Jerry was actually down there at ground zero, I figured it was for his whole show. He can drag out a boring story for an hour better than any moron I know.
The only thing that bothers me about the money earned by some of the wealthy class is the fact that they didn’t earn it by way of the free market, sort of.
When you consider that most executives negotiate their contracts with their peers – other executives who sit on the board that decides the contract of a particular CEO – it makes me feel as though they are raiding the profits that investors count on for dividends and captial gains. As most investors aren’t rich, the raiding basically represents a theft of wealth from the ‘working class’ by the wealthy class.
Many will argue that investors can sell stock of companies that have unbalanced executive compensation and buy stock of companies that compensate their executives at more reasonable levels, but that is hard to do when most companies act in the same manner.
If it represents bad economics to allow secretaries to determine the salaries of their co-workers and engineers to determine the salaries of their co-workers, then it represents the same bad economics to allow executives to determine each others’ pay.
Bob Nardelli didn’t deserve a $230 million dollar compensation payout when he was asked to leave by the board of Home Depot as a result of poor stock performance under his tenure. Disney likely could of found someone to work for less than the $570 million dollars Eisner was able to cash in re stock options in December 1997. Yes, Eisner’s compensation was tied to the performance of Disney, and yes, Disney did do well during his tenure, but were investors well served when the board negotiated Eisner’s ability to recieve such compensation and could Disney have found someone to perform just as well for say $5 million? I suspect they could of.
I think Congress should pass a law that forces companies to allow investors to vote on compensation levels of the top 5 executives, so as to make it harder for this type of thing to take place.
I own Aflac and Walmart because they are good companies that don’t overpay their top people, but most companies do and it represents theft in a roundabout way.
“I think Congress should pass a law that forces companies”…
^Here’s where you plan goes wrong.
Wow…isn’t that the truth?? Any sentence that begins that way sets off all kinds of red flags and flashing lights! Congress passing any laws forcing private industry to do anything….NO. NO. NO!
“Trust me, I’m stupid not evil…”
There are two major problems that occur when government raises taxes on corporations.
One of them is that the cost of doing business for those companies increases. When costs increase for corporations, less efficient businesses close, whereas more efficient businesses are able to stay open. This results in a non-market driven reduction in the number of suppliers for any particular product/service in the marketplace. With less suppliers for customers to choose from, you have a reduction in the value that customers get from such suppliers due to the reduced competition. For example, if you have 5 grocery stores to shop at as oppposed to 3, you will likely get better prices, quality and service at whatever grocery store you choose to shop at.
Secondly, when government confiscates and then redistributes wealth, that wealth is almost always not able to produce the same return on investment that a private company can earn with it, for obvious reasons. Even if government could get the same return (which they can’t), the cost of having the government administrate the redistribution represents an unnecessary and inefficient one.
Politicians know this, so that is why they redistribute wealth to their friends (so as to reduce their costs) and avoid paying taxes left, right and centre (see Charlie Rangel and John Kerry).
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HI REDDOG–#30. And others who know how to calculate who is going to end up getting screwed by the left’s class warfare against the evil rich people.
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Taking 100 percent of the money of all people earning or worth more than $1 million can only pay for a few years of Comrade Obama’s wild wasteful spending.
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Like Hemingway wrote, “Ask not for whom the bell tolls–it tolls for you!” (useful idiots!). Ditto for The Mesiah and His Ilk’s plans for the middle class. Like the old U.S.S.R.–after the income redistribution occured–there are only two classes left. A small rich oligarchy of ruling commies, and a hell of a lot of impoverished peons trying to feed themselves. Check out how well these plans have worked out for the Cuban or Zimbabwe people.
***
John Bibb
***
I don’t think forcing companies by way of a law is always bad. For example, government forces companies to inspect and certify the safety of their food. If the government didn’t do this, less companies would adhere to current standards and many customers would suffer. YOu might think that companies would want to meet strict standards on their own so as to protect their brand and earnings, but if all their competitors were cutting corners and succeeding, they would follow – see China as an example (tainted milk, rocks in rice to increase the weight of the product, unsuitable chemical use in dish soap etc.)
The market also relies on government to protect intellectual property rights, as another example. If you let business do whatever they want without restriction, there would be many that would do nothing else but steal other people’s inventions. Very little innovation would take place and customers would suffer.
To me, having executives raid hundreds of millions of dollars in compensation packages from investors is wrong and they won’t stop doing it until they are told to stop. The average investor doesn’t have the time, funds or power to stop it, even if some of them are aware it is going on.
Working Families Party has run an ad on Craigslist…
…paying “Occupy Wall Street” protesters?
Now, remember the connections between the “Working Families Party” and:
Barack Obama was the Working Families Party’s Presidential candidate in 2008.
Bertha Lewis was Chair of ACORN and co-chair of the Working Families Party. Keep that in mind as you read the following quote:
He’s a Dem, it’s what they do.
Actually it will only finance the country for 270 days
123 – If food is sold as safe, and it isn’t, that is fraud. Intellectual property right violations are theft. Your first example of highly compensated CEOs is neither.
Yeah, I can’t wait to see if a bunch of lazy, smelly, panhandling, ne’er-do-well anarcharistic socialist deadbeats can change America’s direction! Krugman presupposes that the majority of America is in support of this deadbeat Revolution, which I can say, definitively, it does not!
Perhaps Krugman should be careful for that which he wishes. Maybe the current administration will have enough of this attempted power-grab by the uber-left, and declare via Executive Order that ALL occupying protests will be quashed regardless of who is in attendance. Unlawful assembly…yeah, that’s the precursor to “riot,” that “special” ground up movement his advisors have been trying to foment for months now.
Of course, one would hope that Krugman, Soros, Van Jones, et al, will be in attendance should that happen…sadly, like all cowardly rabble-rousers before them, they will be safely esconced elsewhere.
I’m a little confused. I did not realize that Occupy Wall Street was a real political movement. I just thought that it was the left instituting Krugman’s fake space alien invasion strategy to create jobs.
It all depends on the direction of the force. That is: is the force applied restrictively or proscriptively?
Generally, restrictive government coersion is in-bounds (eg, One can’t kill, steal, etc.)
OTOH, proscriptive government coersion is where the Constitution — and citizens along with it — increasingly get violated (eg, One must buy product X, or serve in the military, or serve as a juror, etc).
The OWS crowd falls into the following general categories:
1). Traitors (eg, socialists, Alinsky-ites) who foment victimhood and grievance amongst the masses — with the intent of disrupting authority — in order to clear a path for their real goal, which is to commandeer that very authority for themselves.
2). Hapless fools and failures, who are too blind to see that their desperate search for personal affirmation and social acceptance is being subversively exploited by the first group.
3). Opportunistic losers who tag along pretending to support “The Cause”, but who really just hope to take a few tokes on a bong and get laid by some hippie chick.
I’m starting a new political movement. It’s called “Occupy Your Own Brain”.
This started out as a grassroots protest, now its a circus as the socialists/communists/progs/unions/Obama supporters glommed on and made it leftist.
Somebody has probably already beat me to the punch here, but I’ll say it anyway -
Anyone notice in the text of the image, at the very end, it reads:
‘Join us afterwards at Starbucks!‘
Hahahahaha. FAIL.
These protestors are the 1% losers that exist in society. The ones that feel that if they lay around long enough they’ll eventually inherit mommy and daddy’s money, property, and maybe some of that life insurance money after they pass on. Who needs to work when you can collect welfare or unemployment until that time comes.
I saw one young lady carrying a sign that said, ‘This Is Not The Future That I was Promised’. Really? And just who promised you what type of future will be handed to you?
It’s a good thing these losers didn’t live in the 1800′s or the early 1900′s. They’d be extinct by the age of 20 because they would have to farm or hunt for their food in order to survive. Today, we’ve created a society of people who feel they are entitled to a living without actually having to work for it.
now that is a job I wouldn’t want–
http://4.bp.blogspot.com/_RwdH5DTKRas/SKIf5PQreRI/AAAAAAAAAno/E7zK3FNuDwI/s400/pig_trough.jpg
Sure, just keep contributing to the influx of illegal aliens doing jobs Americans do not want to do!
It is no surprise that Krugman (and others) are inconsistent and duplicitous. Both left and right do it. It is tiresome and frustrating.
Moreover, using a product by a large coporation is not an endorsement of what, or how a company conducts itself.
And of course when that nefarious evil villain is finally unmasked, it will turn out to be none other than… George W. Bush!
Mr. Krugman,
It would be my pleasure to introduce to two of my closest friends:
Mr. Tar and Mr. Feathers.
Please call when you have a moment. They are very anxious to meet you. Together the three of you will become famous and, quite possibly, trend setting.
To leftists, political expediency and popular slogans always trump actual convictions.
Specific -current- examples of that coming from the Right, please.
Secondly, growing up during the 70′s we all knew plenty of hippies that actually practiced what they preached. When THEY said they wanted no part of the System, they MEANT it!
Making their own clothes, living off their garden, making their own wine beer ( and some of that homegrown stuff ) and not pleading for media-whoring attention for having done it either? ( Remember ‘freedom’ was their mantra ) Not HANDOUTS.
Other than Fender, Martin and Gibson most American guitar mfrs. -started- from that “back to nature” movement. Before Government Picked Winners & Losers.
cabreski said:
Inseparable I’d say?
We’ve known that for 45 years.
It would be interesting to do a survey of these “protesters” and ask how many were “educated” in our government schools. That would be highly informative if 90% or better were taught by union teachers.
Please don’t call them progressives.
They want to take us back to 1917. How is that PROGRESS?
They’re leftists, plain and simple.
As long as this movement serves the political interests of Barry and his ilk and the Democrat Party, they will be left essentially alone. On the other hand, if Tea Party protesters occupy the same areas, they will be dealt with as you have described.
I think the Pres. and his advisors LOVE this protest. I think it fits into their plans for the future. I think the Pres. will run again and well might win.
Joe
still in Kores
Whadya know! The model society featured in Krugman’s buddy Tom Friedman’s book “The World is Flat”, China, has announced their own TARP program.
That house of cards is going to be the last and biggest domino that pops the global economy debt bubble when it topples. Once again, we will have to relearn the lessons of why the expediencies of mercantilism are no substitute for the efficiencies of market-based capitalism in a well-regulated (efficient) marketplace.
Paul Krugman, Thomas Friedman, Al Gore, Barrack Obama,…. It justn’t hasn’t been a good year for Nobel laureates.
Umm..you realize this wasn’t a graphic put together by OWS people, right? Geez.
Now that is Rich! …I mean Krugman. (I’m always getting those two confused.)
Being a veteran of many a Tea Party event, I’ve started to think in sign language. If I were to attend an “Occupy” event, I think I would carry this sign. On one side it would say
“Sentence Serial Spenders to Time Served. VOTE
and on the other side it would say:
“Owwww, Don’t Tase Me Bro!”
It irritates me much more when people call the leftists “liberals.” The modern leftist/Democrat is the exact antithesis of genuine liberal thought.
A “progressive” is a kind of leftist who wants to make progress toward a socialist tyranny but doesn’t want to actually get there in their own lifetime.
A regular, less hypocritical socialist wants to cram it all down all our throats right now.
“Progressive” should be considered to be short for “progressive socialist.”
The government caused or allowed everything these protesters are against. These are not the sharpest of tools.
Anyone like Krugman, or Friedman who ACTUALLY believes what they write is CRAZY. You can’t look at the world as it is, and write the crap these guys write without being nuts. I understand economic hypocrits like Gore, but these writers actually have jobs, and could write reality for someone if they weren’t crazy. I wonder how these guys square the American public’s opinion of Carter/Obama as running neck and neck as the worst presidents in any of our lifetimes with their fawning diatribes.
What does he have against Plutocrats? Is it because he’s Goofycrat or a Uranuscrat?