Joseph Stiglitz On CNBC April 2 2009

[stealthpakfa]

john maynard keynes books should be burnt!

[mooninquirer]

Stiglitz also wrote the folloowing book : "The ThreeTrillion Dollar War: the True Cost of the iraq Conflict." in which he also states that the economic downturn was caused by the war bankrupting the economy. Keep in mind, that war spending is a total dead-weight lost, but a lot of that consumer spending in to improve human capital, and the houses CAN be sold to foreigners ( i.e. through immigration ) thus bringing in more money.

[onealreid1]

I completely agree with Stiglitz and he should know. He helped create the monster. But his comment at the end about Americans being cautious to re-enter the debt cycle, well... I say never underestimate the stupidity of the consumer.

[AR15Truther]

lol, great comment

[mmeister7]

Yeah never underestimate their stupidity, unfortunately most economists are literally taught to, at least, based on what theyre making me study at the moment