« previous next »
Pages: [1]   Go Down

Author Topic: Pedro Picasso admits he's just a moron  (Read 1864 times)

0 Members and 1 Guest are viewing this topic.

Offline franksolich

  • Scourge of the Primitives
  • Global Moderator
  • Hero Member
  • *****
  • Posts: 58722
  • Reputation: +3102/-173
Pedro Picasso admits he's just a moron
« on: April 09, 2010, 05:37:48 AM »
http://www.democraticunderground.org/discuss/duboard.php?az=view_all&address=389x8116688

Oh my.

The primitives, again discussing something about which they don't know excresence.

Quote
Fumesucker  (1000+ posts)        Thu Apr-08-10 11:27 PM
Original message
 
Was it “Nobody Saw It Coming” or “Everybody Who Saw It Coming Was a Nobody”?

I know this is old but the title just slays me and the article makes an excellent point.

http://www.nakedcapitalism.com/2009/11/guest-post-was-i...

A number of economists, economic policymakers, regulators, and central bankers have attempted to explain away their failure to both foresee and mitigate the current financial crisis by asserting that no one saw it coming. The inference is that they cannot be held accountable for something so unusual, so extraordinary, and so unforecastable that that no one saw it coming.

Robert Shiller, in a November 1, 2008 NYT OP-ED, noted the following example:

Alan Greenspan, the former Federal Reserve chairman, acknowledged in a Congressional hearing last month that he had made an “error” in assuming that the markets would properly regulate themselves, and added that he had no idea a financial disaster was in the making. What’s more, he said the Fed’s own computer models and economic experts simply “did not forecast” the current financial crisis.

However, the Fed and other policymaking agencies cannot honestly claim that no one saw it coming. There is ample evidence that:

• Economist and commentators “saw it coming”; and

• Economists and others repeatedly brought their observations to the attention of the authorities including the Fed, but were ignored.

In fact, the Fed increasingly exhibited a willingness ignoring critics and criticism. The existence of this pattern at the Fed can be illustrated by looking at two presentations by Kohn. The first is from 2003 and the second is from 2005. But first, a return to Shiller’s OP-ED piece:

Mr. Greenspan’s comments may have left the impression that no one in the world could have predicted the crisis. Yet it is clear that well before home prices started falling in 2006, lots of people were worried about the housing boom and its potential for creating economic disaster. It’s just that the Fed did not take them very seriously.

Quote
Atman  (1000+ posts)        Thu Apr-08-10 11:31 PM
PEDRO PICASSO, #11 TOP PRIMITIVE OF 2009
Response to Original message

1. **** those guys. I know of dozens of mere DUers who "saw it coming," and posted about it.

Me among. Check my journals. I wrote about this many times, well before it all broke down. And I'm just a moron. Why didn't the guys making 90 mil a year figure it out?

Quote
Initech (1000+ posts)        Fri Apr-09-10 12:53 AM
Response to Original message
 
9. I knew it was coming and I know jack shit about economics.
Logged
apres moi, le deluge

Milo Yiannopoulos "It has been obvious since 2016 that Trump carries an anointing of some kind. My American friends, are you so blind to reason, and deaf to Heaven? Can he do all this, and cannot get a crown? This man is your King. Coronate him, and watch every devil shriek, and every demon howl."

Offline Lord Undies

  • Hero Member
  • *****
  • Posts: 11388
  • Reputation: +639/-250
Re: Pedro Picasso admits he's just a moron
« Reply #1 on: April 09, 2010, 07:26:21 AM »
Quote
Atman  (1000+ posts)        Thu Apr-08-10 11:31 PM
PEDRO PICASSO, #11 TOP PRIMITIVE OF 2009
Response to Original message

1. **** those guys. I know of dozens of mere DUers who "saw it coming," and posted about it.

Me among. Check my journals. I wrote about this many times, well before it all broke down. And I'm just a moron. Why didn't the guys making 90 mil a year figure it out?

Yes, you are a moron, and **NO** you didn't "see it coming".  There is a big difference between wishing and hoping for an economic disaster to destroy our great nation in order to embarrass President George W. Bush and actually correctly predicting a coming major economic downturn and explaining why it is about to happen.

Moron. 
Logged

Offline The Village Idiot

  • Banned
  • Probationary (Probie)
  • Posts: 54
  • Reputation: +96/-15
Re: Pedro Picasso admits he's just a moron
« Reply #2 on: April 09, 2010, 08:08:52 AM »
But how many DUers see whats coming now? Not many the way they praise the Barak for his tax and borrow and spend ways.
Logged

Offline DixieBelle

  • Administrator
  • Hero Member
  • *****
  • Posts: 12143
  • Reputation: +512/-49
  • Still looking for my pony.....
Re: Pedro Picasso admits he's just a moron
« Reply #3 on: April 09, 2010, 08:20:32 AM »
I think the DU name fumesucker is very appropriate.
Logged
I can see November 2 from my house!!!

Spread my work ethic, not my wealth.

Forget change, bring back common sense.
-------------------------------------------------

No, my friends, there’s only one really progressive idea. And that is the idea of legally limiting the power of the government. That one genuinely liberal, genuinely progressive idea — the Why in 1776, the How in 1787 — is what needs to be conserved. We need to conserve that fundamentally liberal idea. That is why we are conservatives. --Bill Whittle

Offline littlelamb

  • Banned
  • Hero Member
  • *****
  • Posts: 3035
  • Reputation: +55/-18
Re: Pedro Picasso admits he's just a moron
« Reply #4 on: April 09, 2010, 08:36:58 AM »
Quote from: FGL on April 09, 2010, 08:08:52 AM
But how many DUers see whats coming now? Not many the way they praise the Barak for his tax and borrow and spend ways.

They may see the writting on the wall but turn a blind eye to it
Logged
Good girls are bad girls that never get caught.

Politics is the art of looking for trouble, finding it, misdiagnosing it and then misapplying the wrong remedies.

Offline USA4ME

  • Evil Capitalist
  • Hero Member
  • *****
  • Posts: 14835
  • Reputation: +2476/-76
Re: Pedro Picasso admits he's just a moron
« Reply #5 on: April 09, 2010, 09:38:07 AM »
Quote from:
Fumesucker

However, the Fed and other policymaking agencies cannot honestly claim that no one saw it coming. There is ample evidence that:

• Economist and commentators “saw it coming”; and

• Economists and others repeatedly brought their observations to the attention of the authorities including the Fed, but were ignored.

That's evidence??  Doesn't work that way in the real world.

I can honestly say that as a mortage lender, I noted that Fannie and Freddie were buying 100% LTV Stated Income and No Income Verification Loans, and I thought at the time that they were playing with fire because those are very high risk loans.  But there's no way in the world that I could ever honestly say that I saw coming what has happened.

Some economists didn't see any potential downside to what was going on, others saw the end of the world, then there were 10,000 various scenerios played out inbetween those two extremes.  Regardless of what the future held, at least one of those 10,000 forecasts was going to be closer to what really happened than the others.  That doesn't mean they saw it coming.  If that's the case, let's get those same economists and have them predict what it will be like 2 to 5 years from now and then we'll see just how accurate they are.  I mean, they either have the magic touch or they don't.

How about it, Pedro?  Predict the economic scenerio for April 9, 2012 and April 9, 2015 and we'll just just how close reality is to what "you saw coming."  I dare you to even try.

Poor Pedro.

.
Logged
Because third world peasant labor is a good thing.

Offline GOBUCKS

  • Hero Member
  • *****
  • Posts: 24186
  • Reputation: +1812/-339
  • All in all, not bad, not bad at all
Re: Pedro Picasso admits he's just a moron
« Reply #6 on: April 09, 2010, 03:30:46 PM »
Speaking of morons:
Quote
EFerrari  (1000+ posts)        Fri Jul-08-05 06:15 PM
Response to Reply #39
40. Don't mind me. I have no brain.
Sorry. 
Logged

Offline jukin

  • Hero Member
  • *****
  • Posts: 16230
  • Reputation: +2114/-170
Re: Pedro Picasso admits he's just a moron
« Reply #7 on: April 09, 2010, 04:04:36 PM »
People did see it and tried to stem it off. However, the donks used the race card, the poor card, the big meanie republican card and with the 100% support of the MSM forced them to shut up.  Could they have been stronger? Yes but they tried to push that boulder up the hill and the black caucus in particular forced it under the mat.  As well, do not underestimate how much the left and the media hyping bad economic times for 6 years undermined the economy.
Logged
When you are the beneficiary of someone’s kindness and generosity, it produces a sense of gratitude and community.

When you are the beneficiary of a policy that steals from someone and gives it to you in return for your vote, it produces a sense of entitlement and dependency.

Offline AllosaursRus

  • Hero Member
  • *****
  • Posts: 11672
  • Reputation: +424/-293
  • Skip Tracing by Contract Only!
Re: Pedro Picasso admits he's just a moron
« Reply #8 on: April 09, 2010, 09:55:07 PM »
Quote
Fumesucker

However, the Fed and other policymaking agencies cannot honestly claim that no one saw it coming. There is ample evidence that:

• Economist and commentators “saw it coming”; and

• Economists and others repeatedly brought their observations to the attention of the authorities including the Fed, but were ignored.

As I recall "ThumbSucker", it was the Repubs and, heaven forbid, George W, that was tryin' to pull the plug, but your buddies in the DemonRat party, Bwarney Fwankfurter, Charles Raines, and others refused to listen!

Call me a liar, asshats!
Logged
I'm the guy your mother warned you about!
 

Offline Freeper

  • Moderator
  • Hero Member
  • *****
  • Posts: 17779
  • Reputation: +1311/-314
  • Creepy ass cracker.
Re: Pedro Picasso admits he's just a moron
« Reply #9 on: April 10, 2010, 07:36:44 AM »
Quote
Initech (1000+ posts)        Fri Apr-09-10 12:53 AM
Response to Original message
 
9. I knew it was coming and I know jack shit about economics.

Sounds like you qualify to be Obama's economic czar. One more question though, did you pay your taxes? If the answer is no then you are a shoo in.
Logged
I may not lock my doors while sitting at a red light and a black man is near, but I sure as hell grab on tight to my wallet when any democrats are close by.
Pages: [1]   Go Up
« previous next »