Thursday, 9 June 2011

Keiser Report (E153): Selling Kidney for iPad

This week Max Keiser and co-host, Stacy Herbert, present a special episode to enlighten a baffled Wall Street. They discuss selling kidneys for iPads, Saudi Arabia's planned nuclear reactors and oil traders threatening their competition with kidnapping.



[Posted at the SpookyWeather blog, June 9th, 2011.]

2 comments:

steven andresen said...

spook,

Stacey is such a babe.

I'm not clear about what Max has against Krugman.

Can you explain?

s.

SpookyPunkos said...

S.

Max looked a bit dour in the first half of this show whilst Stacy was shining - keeping things on the level. :)

I believe Max Keiser is against Paul Krugman's Keynesian approach which emphasises monetary stimulus as a solution to avoiding depressions. Connected to this idea of keeping things afloat (via bailouts) is the notion you are protecting monopolies- hence Max's comment about killing legitimate competition.

It appears that Krugman's present views might avoid the problem of rampant corruption in the whole process.

I think Max is more like Ron Paul of the Austrian school. They are unsympathetic to those who take big/corrupt risks. High returns and casino style gambling via and subversion of existing regulations should usually = high risk and no bailing out.

Max quipped about the "moral hazard" aspect to the bailing out of these banksters. I think it is fair comment.

I believe that Max has argued that if bailing out was to be done then the people should get the money and a lifeline and not the rich bankers who would have to sell a Porche or two and down size from a 20 bedroom mansion to a 10 bedroom one.

The only remaining question in the "too big to fail" argument is the hit taken by pension funds who are invested like Wall Street. One could argue that after the rot is knocked out of the system these same funds could make up losses via new investments that would spring up to replace the old.

Spook !

ps. You could say simply that Max doesn't like Krugman because he is defending the monetary bailouts and the Fed.