Quote of the Day
"We will see in the next two years the real cost of there not being a second round of stimulus. We will see the economy slow down at a very high economic cost."
Noble-winning economist Joseph Stiglitz.
Stiglitz on what he would say to the Tea Party
Stiglitz on how economist Adam Smith's invisible hand of the market theory is utter nonsense.
Labels: economics, joseph stiglitz
posted by Michael Hussey @ 11:07 PM
2 Comments
2 Comments:
My own words have been haunting me.. Mostly because, not to brag, but how spot on I was about the stimulus bill and this administration very early on.
"In Obama’s push for “bipartisanship,” he allowed Republicans to water down the stimulus bill and then still not vote for it. [True srory!] Depending on how the economy reacts to this bill, we may be wondering why Obama even played ball with the Republicans a few months from now."
And this...
"Now we’re left to sit idle and wonder if Obama spent his political capital on a bill that doesn’t answer the fundamental issues of getting our economy running again."
Hah. Sigh. Funny thing is I remember arguing this on a Comments From Left Field podcast, and the other bloggers from the site on the podcast were like no, Obama hasn't spent all his political capital. Coincidentally enough, I don't talk with them anymore -- and one made a public swipe at me having my head up my ass rather than debate me.
You know, I think the world would be a better place if everyone just listened to me. Since I'm apparently dead on right a lot.
Remember how Bryan told me I was wrong about the housing bubble popping.
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