Thursday, August 19, 2010

Channeling Mr. T

If I can just transport myself back 25 years past, I can just see this exchange between Murdoch and Mr. T from the A-TEAM. Hopefully you can figure out who is Helicopter Ben in this exchange.

MURDOCH: BA, We have to spend our way out of this mess.

MR.T: Murdoch! You're a crazy fool!

MURDOCH: But BA, We have to keep spending money that we don't have. Its the only way to keep a rotten to the core financial system solvent. Why can't you understand?

MR.T: Murdoch! You're a crazy fool!

MURDOCH: But BA, Don't you understand that more targeted debt and leverage will fix an inherent debt and leverage problem?

MR. T: Murdoch! You're a crazy fool!

MURDOCH: BA! We have to keep printing stimulus even though it only helps the ultra wealthy. We have to bury the middle class! They won't even notice BA.

MR. T: Murdoch! You're a crazy fool!

MURDOCH! BA! Don't you understand! We can control the rate of inflation by effectively expanding the  monetary base. This has been proven by Milton Friedman. He won the Nobel Prize.

MR.T: You and that Friedman dude are crazy fool's! Those Japanese Fools tried the same thing and it never worked.

MURDOCH: BA, The reason it didn't work is, per Mr. Bullard,  that their QE wasn't enough. We won't make that mistake. We have 5 or 6 levels of QE before we fail. What do think?

Mr.T: You know what I think? I think your a mentally unstable nut job who needs a Prozac the size of a beach ball. That is what I think. BTW...You are one crazy fool to think that QE is the answer to our debt problems.

MURDOCH: We also have this ZIRP Policy.

Mr. T: Did that work for the Japanese? No FOOL!  You see we like the Japanese are experiencing something called a balance sheet recession. No matter what ZIRP policy is instituted, it's not going to work.

MURDOCH: So what do you suggest?

Mr. T: I suggest you stop acting and carrying on like a damn fool! Its the debt stupid! It needs to be either restructured or defaulted on. Until this occurs, stupid fools like you will continue to ruin our once proud country.

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