Thursday, June 24, 2010

Paul Krugman, Newest Member of the All-Imbecile Team

For those of you out there following my All-Imbecile Team I truly appreciate your input and suggestions. There have been some interesting names submitted. I would counsel any out there to remember that you must supply the accompanying background info such as moronic quotes, imbecilic anecdotes for your submission to be included for consideration.

As an update our current All-Imbecile Team members are:

Ken Rosen from Cal-Berkeley,
Roger Farmer from UCLA and
Alicia Munnell from Boston College.

So now today I must officially add Paul Krugman to this All-Imbecile squad.

Now on any other team Krugman would be hands down the captain but he has some serious competition for that title on this outfit. Recently Krugman came out with a piece in the NY Times called Now and Later.

Now normally if a freshman economics major wrote a piece like this he/she would be thrown out on their ass, lucky to be able to transfer into the basket-weaving program but not with Krugman. No, instead, the Times gives him a platform to spout his brand of Keynesian, spend, spend, spend, idiocy.

Go ahead, read his article but please do so on an empty stomach. In this way you will avoid a bloody mess on your hands after you read it and you will also clearly understand why our nation finds itself in the pickle it is in. A room temp IQ can figure out if you ran your business or household in the fashion Krugman suggests you would find yourself bankrupt but if you run the government this way you get promoted.

Whenever you want to flush out your arteries read this article or for that matter any other article by Krugman. There are not enough derogatory adjectives to describe Krugman's idiocy. Let's just add him to the All-Imbecile team and be done with it, content to know he is a perennial member.


Good speculating to you all and please remember to never forget that "an investor is a speculator who made a mistake and will not admit it".


Open Positions:
Long 1 unit Direxion Large Cap 3X Bear ticker BGZ @ $19.34
Long 2 units Direxion Small Cap 3X Bear ticker TZA @ $12.06
Long 1 unit Direxion Emerging Mkts 3X Bear ticker EDZ @ $60.50
Long 2 units Direxion Financial 3X Bear ticker FAZ @ $19.65
Long 2 units Ultrashort Xinhua China ticker FXP @ $42.45
Long 1 unit Ultrashort Real Estate ticker SRS @ $49.10
Long 2 units Direxion Tech 3X Bear ticker TYP @ $10.52
Long 1 unit US Dollar Bull ticker UUP @ $22.52 stop @ $22.52
Long 1 unit ishares Barclays 20yr Treas ticker TLT @ 92.15 stop @ $92.15
Long 1 unit ishares Barclays 20yr Treas ticker TLT @ 93.48 stop @93.48
Short 1 unit Apple ticker AAPL @ $275.20 stop @ $280.06

6 comments:

Anonymous said...

he's the nobel laureate. your a blogger. the least you could do is try to refute his argument, rather than just insult him.

the fact that you haven't tried to refute his argument actually lends credence to it.

Harleydog said...

Anon,

Yes he is a nobel laureate and yes I am the blogger. Okay, so lets refute his Keynesian argument of spend, spend, spend.

Most fiscally sane individuals would argue don't spend what you don't have but not Krugman. Borrow, borrow, borrow.

One might even go a step further and suggest you don't solve a debt crisis with more debt just as you don't cure a heroin addict with larger doses of heroin, but not Krugman more heroin please.

Mr. Krugman thinks penny pinching is more than cruel it endangers our future. What does one say to his other than insult the speaker as penny pinching is EXACTLY what people with a room temp IQ do when they are in trouble financially.


In my opinion, remember now I am an idiot blogger and Mr. Krugman is the nobel laureate, you cut taxes across the board and you absolutely go hog wild cutting entitlements and spending to the point where calling it austerity would be a compliment.

I apolgize in advance if you find my refuations of the laureates arguments too simplistic or shallow. If so, I suggest you continue reading the cerebral horses**t the nobel laureate is spouting.

HD

Anonymous said...

Why do you continue to hold leveraged etf positions (TZA, BGZ, etc) the decay is killing your trade. Even if the market cracks you will be lucky to get back to break even.

Harleydog said...

Anon,

thx for the input. I like the leveraged etf's. Lets hope luck is on my side.

HD

Anonymous said...

Just want to make sure you understand that the correlation of a leveraged etf breaks down after 1 day. They are only built to have 1.0 or (1.0) correlation intraday. Once you hold overnight (or for extended periods) the correlation becomes less and less. A simple calculation in Excel will prove this. It would suck to be right on your bearish call and not make any money form it due to lack of understanding of the instruments you are holding.

Harleydog said...

Anon,

Again thx for the etf lesson, much appreciated. I was advised much the same regarding etf's back in 2007-2008. Good trading to you.

HD