What?--I am jumpy?

I possess a tendency to disagree with Paul Krugman about most things, as he has a tendency to be a little too liberal about most things, but in this Post he is most generally Right. American Economics have suffered a loss of Prestige because of the financial crisis. He thinks it is because of the ideological differences among American Economists, along with their intransigence; even as I have to point out the huge losses the rest of the World had to suffer because of the fraudulent aspects of the Credit Default Swaps. There is a terrible adherence to that old Saw of "Fool Me Once." I believe intrinsically in Simon Johnson’s blame of the financiers for their greed, and their refusal to adapt at cost to themselves. Paul’s love of the Swedish model, alternately, does leave me a little Cold in the long-run, as I believe that the Government’s involvement in the economy was as responsible for the financial crisis, as were those hated Capitalists. I have long hoped to prove that Government policy was as injurious as unbridled greed, based as it is on unbridled megalomania. No one has yet come up with the Posit that the current economic downturn is quite normal economic cycle, except for major players getting caught with their hands in the Till.

I has real trouble with the thesis that the Government can pump up the economy with Cash, in liquid forms or Project employment, so as to cancel the impetus of a downturn. I long for the old-time business model where business firms were supposed to go ‘Out of Business’ if they failed to maintain their own markets. Now, Government is supposed to create markets which do not exist; railed against upon their failure. Why is it that Economists blame the Government for poor Business performance? Why does Government blame the Private Sector for lack of Capital outside their own business format? I would ask Someone to explain these Issues to myself, who blames Journalists for turning normal crises into the worst debacle in the entire history of the human race. I know not what I say, as I belong to the same crowd of sorts (blackened Pots and all that); yet, We are turning a normal discourse into a potential Libel suit.

I enjoy this Post from Felix Salmon. One of CDS traders is trying to turn out a Preferred Credit Default Swap, with Coupons and everything. I have some doubts that such a system would work, when the Credit viability of the resting company is not tested in the conversion process, but what do I know? There might be a lot of lit lamps placed under the designed Curtain, producing a lot of heat; might not the entire structure be aflame under segment overheating? Do not worry, Children, Investors will immediately notice the failure, and shut off any liquid fuel going to the lamps. I combine the later Post with the Above simply to express the neurotic Conceptualism being brought to the economic discussion of the Crisis. lgl