It's official: Drunk, stoned, idiot CAG posters are brilliant economists

S

speedracer

Banned
Davos is going on right now, where the ultra of the ultra powerful economic leaders get together and try to figure out what the hell is going on in the world of economics. A brief history of their findings lately:

2009 Davos: We must cut government spending and debt at all costs to get out of this recession.
2010 Davos: We must cut government spending and debt at all costs to get out of this recession.
2011 Davos: We must cut government spending and debt at all costs to get out of this recession.

Davos, today:
Financial market participants say they are more concerned about the absence of growth in the euro zone than about budget deficits and public debt levels now, because growth is what will enable countries to service and repay their debts over time. "It looks like the LTRO is having a positive contribution. Does it solve all of the problems sustainably? Probably not," said Andrew Bosomworth, a senior portfolio manager at Pimco.

"At the end of the day, it comes down to growth -- that's what these countries need to keep their debt sustainable."

The latest forecasts suggest Greece and Portugal are stuck in deep recessions, reducing their revenues and hence their ability to meet fiscal targets. Spain and Italy are expected to be in recession this year and next, raising the same concerns.

...

"Markets are looking very much for growth," the executive at a leading hedge fund added. "They are not looking for a better enforced Stability and Growth Pact, but at whether this is a viable currency area, which depends on growth."
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Nobody could have known.
 
[quote name='mykevermin']I frequently post while intoxicated and *never* have suggested anything about austerity.

Just sayin'.[/QUOTE]
I was more pointing to us being about 4 years early to the party. Drunk the whole time of course.
 
Sadly, I'm sober at the moment, so I can't blame any drinkin' on having misread the call for expansionary policy over deficits and debt.

derp.
 
And yet most of these monday morning economists in congress can't seem to figure out that growth won't happen at all without high employment...

The American Dream; not much more than that and nice while it lasted.
 
[quote name='Msut77']http://www.nytimes.com/2012/01/30/world/europe/30iht-union30.html?_r=1

I hardly ever drink anymore.

Some of the elites appear to be coming off their binges now.[/QUOTE]
From your link:
“We believe that a reform process based on a pillar of fiscal austerity alone risks becoming self-defeating, as domestic demand falls in line with consumers’ rising concerns about job security and disposable incomes, eroding national tax revenues,” S.&P. said.
Click to expand...
Seriously, you know the party's over when the S&P realizes it's bullshit. They're the "18 year old in seventh grade" of the financial world.
 
That quote stood out to me as kind of a "a buh-buh-BUH? S&P GETS IT?" when I read it last night, too.

Not that it will affect out political or economic culture at all.
 
[quote name='speedracer']2009 Davos: We must cut government spending and debt at all costs to get out of this recession.
2010 Davos: We must cut government spending and debt at all costs to get out of this recession.
2011 Davos: We must cut government spending and debt at all costs to get out of this recession.[/QUOTE]

2009 Devo: when a good time turns around you must whip it
2010 Devo: you will never live it down unless you whip it
2011 Devo: no one gets away until they whip it

2012 Devo: Whip it good!
 
I know I'm probably the only one, but I keep seeing Davros when I read that. And well, if Davros is controlling this, we're all fucked.
 
I know buddy, I know. Why do I know?

I see you, and I know what you do.


This game could go on for so long...
 
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