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Joseph Stiglitz: Freefall

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Commonwealth Club of California

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Eric25001 Avatar
Posted: 10.11.10, 10:25 PM
MILTON FRIEDMAN Hayek Adam Smith Breath Breath Inhale and exhale Joe Stiglitz [Not even close] No data, No facts, just believe in big smart government!!
WinterRossCharlton Avatar
Posted: 07.30.10, 05:45 PM
The problems with the statist government pundits - people such as Dean Baker, Paul Krugman, Joe Stiglitz, Christina Romer, etc. - is that their cheering for economic "stimulus" and how it "saved" us from depression are multifold: I'll name two: 1) They all seem to suggest that we are "out of the woods" when in fact this is just the beginning. Americans are only halfway down a generations long decline in standard of living that started in the mid 1960's. We have at least several decades of decline left in front of us. The 100 Trillion in unfunded debt, aging demographics, and declining. The american economy has been hollowed out. There is virtually no job that hasn't be outsourced overseas. Most top level financial analysts - people such as Sprott, Schiff, Arnott, King, Puplava, Faber, Prechter, and others beleive, and correctly so that we are actually 10 years into a secular bear market that started in 2000. Everything since then as basically been credit and stimulus, yet priced in gold, we are actually much worse off than we were 10 years ago. 2) These pundits all ignore the dollar's inevitable decline which will ultimately transition us to a global currency, with the IMF's SDR serving as an intermediary to get us there. The purchasing power of our money has already declined over 95% in the time my surviving family members have been on this earth. The government programs under Obama and Bush (it's all the same) have not saved us at all. In fact, they've GUARANTEED our irreversible decline. In a few years from now, when we no longer have the world's reserve currency, when we no longer have the worlds largest economy, the carbon taxes and the rest of the global governing architecture are in place regulating the hell out of us, nobody will remember any of these people. I'm studying Chinese and getting the hell out of here, once i get my degree.
sovereignself Avatar
Posted: 06.06.10, 05:06 PM
yes.. one of the greatest intellectual arguments of our time: blame 'greed' ... some people are greedy and others are not, those who are not should control! haha
netprowlerp Avatar
Posted: 06.03.10, 05:44 AM
Geitner in not in the Fed, he is Treasury Secretary.
jonathandarvas Avatar
Posted: 05.14.10, 12:32 AM
The democracy is not working well with this so called "free marked". We have now a the rising of China, à communiste country with a one-party system. 80 percent of economy of China is controled by the central government and it is working! So, we need to think about the contradiction between capitalism and democracy and we have to chose between this two different systems at the end.This is the only real question we have to put on the table.
scott.hussey Avatar
Posted: 05.07.10, 12:21 PM
At around 00:16 :15 into this, Stiglitz claims the reason the Great Depression lasted so long was that in 1937 (yes '37!), federal stimulus was reduced causing states that were doing poorly - like CA - cut back spending. He totally misses the fact that they were still in recession after nearly 8 years.
ajstavely711 Avatar
Posted: 04.23.10, 01:49 PM
You have absolutely no idea what you are talking about! LOL! Public-Private Partnerships are a vital part of our economy! Try again!
kujoAAR Avatar
Posted: 04.22.10, 02:50 PM
He should have replaced Greenspan. But we do not have a Progressive President. Obama, like Clinton is just another moderate republican. They are giving slaps on the wrist to powerful criminal rackets that succeeded in threatening the security of the United States. The 'unsurveyable pattern' aka invisible hand is faith based hocus pocus. It is BS to baffel the non-inquisitive. Just more evidence how brain washed even economic sector professionals are by their own employers business propaganda.
balthazarF Avatar
Posted: 04.12.10, 03:14 PM
@Howard_Roark, "Greed" and "self-interest" have been around since the days when our ancestors, Thag and Oog first started walking upright on two feet. So one should just accept that investing in a gun and robbing a bank (gaining profit) is a valid expression of capitalism, in fact it may perhaps be capitalism at its highest form, and is justifiable through the actions of your ancestors, Thag and Oog, and your genetic and familial adherence thereto. My ancestors, aware of greed and self-interest, also understood the benefits of cooperation of effort, the value of redundancy and the commonwealth of group as well as of nations. Consider, There is a sufficiency in the world for man's need but not for man's greed. - Gandhi.
balthazarF Avatar
Posted: 04.12.10, 02:45 PM
@Eric25001, "' Only government can take perfectly good paper, cover it with perfectly good ink and make the combination worthless. ' Milton Friedman" Yes, the Congress (Democrats and Republicans in a bi-partisan effort) did give the Federal Reserve Bank the authority to call the Treasury, tell them to print some money, and then lend that money to the government, making the government an instant debtor nation. Just incidentally, "A major source of objection to a free economy" is not an objection but the glaring legislation which authorizes a wage of poverty and sets the minimum wage as the lowest wage of poverty (in lieu of slavery) and history. That legislation prohibits a free labor market, as do the laws which limit agency bargaining and the history of government interference in labor actions with troops. A moment of quietude for the dead coal miners and their families and to reflect on family values, the obligation of the officers of Massey to the corporation and its stockholders and profit as superior to the expense of the safety of their personnel, and to thank the SCOTUS for making that fiduciary responsibility clear. It can be argued that promoting the general welfare of the nation requires strict regulation of capitalism, an anti-democratic economic, in order for the democratic republic which is the nation to survive as a nation. In addition to the stated purpose of government which is the Preamble, Article 1, Section 8, "The Congress shall have Power ... To regulate Commerce ..." The Democrats and Republicans, i.e. The Congress, are capitalists (what senator is not a millionaire) who represent capitalists and not the people. Economists are the capitalists hired hands whose job is to distract from political reality. Democracy lost long before the headline at the fall of the Soviet Union declared that capitalism won.