Chasing Stiglitz

B the way Harley this article is aut a liberal democratic economis saying Obama's plan is going to fail and I have said allalong now that the banks have ben bailed out leave it alone and it will corredt itself. By the way it only to Reagan two years to "fi" the mess Carter left an that was far worse than this.

Haley I never nade called the person his/her belief thatw should pay Pelosi' jet costs is an ignorant opinion and pathetic - I did not attack the person You guys are pretty much blinded by your the democrats are alway right philosophy tha you thinks its ok in thee hard times for her to spend money that follishly. I wonder how you wol have howled if a republican had done tihis and as far as the GOP making ths mess look only to Freddie and Fannie for a large porion of the blame. You wil find 17 GOPers jumped ship and joined the dems to bring us that mess which has casued the housing market collapse. f Bush in 2002 and Mc Cain in 2005 would have been listened to instead of ignored this might not have ever happened.

HarleyisHere:

Save your immature name calling for your other childish bloggers and stick to the issue. Stiglitz a far left liberal predicts that Obama's plan to stimulate the economy by borrowing another 1 trillion dollars for artificial stimulus will not work. It will add 2 trillion ito the federal debt in just one year and will likely have devastating economic consequences predicting 14% nemployment by 2012. I agree and ve said so in the pst. Obama needs to cut federal spending by laying off thousands of federal employees.cutting automatic cost of living increases for congress and he needs to reduce corporate income taxes to 25% or lower to stimulate the job market and maybe even return some of the outsourced jobs back here. The trouble is that will be another broken promise which is already approaching double figures and he hasn't even taken office yet.

HarleyisHere:

Save your immature name calling for your other childish bloggers and stick to the issue. Stiglitz a far left liberal predicts that Obama's plan to stimulate the economy by borrowing another 1 trillion dollars for artificial stimulus will not work. It will add 2 trillion ito the federal debt in just one year and will likely have devastating economic consequences predicting 14% nemployment by 2012. I agree and ve said so in the pst. Obama needs to cut federal spending by laying off thousands of federal employees.cutting automatic cost of living increases for congress and he needs to reduce oporate income taxes to 25% or lower to stimulate the job market and may be even return some of the outsourced jobs back here. The trouble is that will be another broken promise which is already approaching double figures and he hasn't even taken office yet.

And without those additional steps, he warns, the fiscal stimulus that the Obama administration is now putting its hopes on won't avert the devastating recession to come. "Unemployment is going to go to 6½ percent, then to ten percent by the end of 2010. When it goes to 14 percent by 2012, Obama and the Democrats are going to be toast." (Neither the Obama transition team nor Summers immediately responded to a request for comment.)

Aldus21:

Maybe we could make you a CEO of say the automakers you'd fit right in with their spending philosophy. Maybe we could make you the head of Obama's economic team and we could get you your own jet too!!!

You can justify spending 200 million for a 200 seat jet for the Speaker the House!!! You are the pathetic one. Her job pays 170,000 a year plus benefits one of which cost the tapayers nearly 6 million in fuel costs. The smaller private jet suited past speakers just fine you democrats are going to tax everyone out of their homes. That expenditure is absolutely ridiculous and she did in fact complain about having to land and refuel once each way with the smaller jet. She needs a 200 seat jet like I need your ignorant opinion that it is somehow okay to spend that mney all thwhile you complained about GWB and his deficit spending. Your hypocrisy is showing.

Though a liberal Stiglitz would disavow mortgage sell offs by banks which would mean less lower income people could buy homes and this Obama opposes see Fannie and Freddie. Every govt sponsored housing initiative has failed and failed miserably. Banks should control their assets and be able to select who they loan to no matter what to protect their asses and customers assets. The goervnment should shrink itelf to infrastructure upkeep, military readiness and writing laws and get out of all social programs which have proven to be massive capital burning failures.

hindsight is 2020 I guess .. stiglitz was right, but revolutions eat their young as the saying goes, possibly including the obama revolution. there is also a saying, "history is written by the victors".. or, even more darkly, "the assassins". there are many economists even more accurate than stiglitz in their understanding of the problem. I would suggest for example Mike Hudson who also has a book out, "superimperalism".

I quote stiglitz prominently/extensively in the following paper from 2002.
called "fractional reserve banking as economic
parasitism"

http://econpapers.repec.org/paper/wpawuwpma/0203005.htm

endorsed by two phd economists. printed in nexus
magazine, 60k world circulation. #1 top downloaded
economics paper. used by economics
teacher in australia as standard classroom material.

recent supporting material:

Web of Debt-- How Banks and the Federal Reserve are Bankrupting the Planet, by Ellen Brown
http://www.webofdebt.com/

The Shock Doctrine: Naomi Klein on the Rise of Disaster Capitalism
http://www.democracynow.org/article.pl?sid=07/09/17/1411235

Confessions of an Economic Hit Man: How the U.S. Uses Globalization to Cheat Poor Countries Out of Trillions
http://www.democracynow.org/article.pl?sid=04/11/09/1526251

John Perkins on "The Secret History of the American Empire: Economic Hit Men, Jackals, and the Truth about Global Corruption"
http://www.democracynow.org/article.pl?sid=07/06/05/149254

Behind the falsification of US economic data
Peter Daniels
http://www.infowars.com/?p=2525

Money as Debt, video by Grignon
http://video.google.com/videoplay?docid=-9050474362583451279

x

All of you idiots who put Bush in office, take a bow. Freakin' morons!