Stiglitz - The Future of the US economy

Joe Stiglitz talking about the coming real estate crisis and the consequences of the shortfalls in state budgets and what it would mean if we don't have a second stimulus.

Category:

Nonprofits & Activism

Tags:

• Joe Stiglitz
• Charlie Rose
• US
• economy
• double dip
• recession

[jimberkt]

So basically he is saying we need to pray that somehow infinite growth is possible in a finite world. Wouldn't it just be easier to build a perpetual motion machine or mine unobtanium from an alien planet? This is ridiculous.

BTW the Nobel prize has become a prize for promoting irrational utopianism around the world, nothing more.

[madashelldude]

@jimberkt "basically" he is not saying anything like that. We live in a finite world, true, but so does the biosphere, yet evolution is an infinite growth too except it's happening sustainably. So mother nature is proof that it's possible to use available resources and become more complex more evolved each step of the way. We have to figure out how to make out energy use and our industrial processes more similar to what molecular machines and factories already figured out in our body.

[beamla]

@ERROLCUSTERFLYNN4EVR Ayn Rand was a crazy Russian bitch. No doubt she was reacting to USSR government oppression and went overboard jumping too far to the right.

[poosta7]

Stiglitz points out that state and local governments is the next economic shoe to drop....Harrisburg Capital of Pennsylvania already went bankrupt and Jefferson County, Alabama is in the process of bankruptcy...People receive less income than ten years ago in an economy that is 70% based on consumption...and now they can't borrow against their house or put it on the credit card.....game over.

[jessemaurais]

Paradoxically the big companies are still profitable right now. It's as if the economy found it's equilibrium between income and spending at a point where much of the population remains unemployed.

[ecnerwal999]

LIBERTARIANMONARCHY . COM

[dakdakdak]

@jimberkt the world is not exactly finite. We have a continual supply of new energy from the sun, thats the underlying stimulus that allows for capitalism to keep growing... unfortunately most of this solar energy was stored over millions of years as petroleum and we sure are burning through that more quickly than it is being replenished. The point is, with more efficient use of energy, perpetual growth is still possible

[zzzzJAGJEETzzzz]

what the fuck is wrong with his face when he talks lolol

[Mattothee]

A huge crisis is coming! watch out America! Im glad im not with you up there, with your current leaders things can only go downhill in the next couple of years. Lets just hope the problem doesn't incite martial law to take place...

[Someideasandstuff]

Yah, Ayn Rand was a bit nuts.

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