Joseph Stiglitz on economy and riots (09Aug11)

So called economic "expert" Joseph Stiglitz talks about the crap economy, and tries to blame unrest in countries on the economic situation. There seemed to be no unrest with people spending spending spending on dirt cheap credit for crap they never needed.

Recorded from Channel 4 News, 09 August 2011.

Category:

News & Politics

Tags:

• joseph
• stiglitz
• economics
• economy
• stagnant
• flat
• growth
• cheap
• credit
• spending
• borrowing
• unrest
• riots
• rioting
• 09
• august
• 2011

[PiPxTc]

Oh dear, he won a 'so-called' Nobel prize for 'so-called' groundbreaking research, so he's a 'so-called' expert. Just like Einstein was a 'so-called' physicist who discovered 'so-called' relativity. The problem with the right wing is they have a problem with 'so-called' reality.

[vikingv111]

@Alieninmyhouse You are incredibly stupid. I suppose you want to see Britain become a 3rd world country with even more poor and unemployed. It is the people who hate the normal working people, the poor and unemployed who destroy economic progress. Hating poor people is just an excuse to be selfish and self-centered while demeaning everyone beneath you. You are probably not human considering your moniker Alieninmyhouse.

[cyborganic99]

no no no....crap economies dont lead to civil unrest. if people are rioting in the streets, it is clearly because theyre not right in the head. Austerity works. those people need to stop whinning and get a job and accept cheaper pay; because the expense of living will go down....Maybe

[adhocrat1]

at 1:51 he says "the market economy is not working, the government is are not succeeding in helping."

The whole problem is the 'help' we get from the government only destroys, never helps. Government is simply a way to transfer money from the least favored to the most favored groups.

[GiantSandles]

I do appreciate the videos you upload, but judging from the sort of descriptions you ascribe to all of the videos you've uploaded (that I've seen), you are a fucking moron.

[MrRichardDorkins]

wah wah

[ukipwarrior]

@vikingv111 Germany socialistic ah yeah with smaller GDP growth than the UK now :-) Oh and Norway perhaps their socialistic government should have bought a few police helicopters to save their fellow citizens lives instead of hoarding the cash for their greedy socialist comrades. Disgusting

[vikingv111]

@Alieninmyhouse You know nothing about Keynesian economics. The key principle is to balance the budget and save during good economic times and do deficit spending only during major economic recessions that threaten to destabilize the economy. Keynes lived through 2 major economic contractions and the social and economic consequences were horrible for the countries that tired the austerity measures of cutting spending and balancing the budget.  You obviously do not read about history or Keynes.

[vikingv111]

@ukipwarrior Norway, Sweden, Germany are very socialistic countries, run by practical administrative leaders and they are doing extremely well compared to America or Britain. My case is proven.

You would be fortunate indeed to work and live in these countries because they have jobs, good wages and good benefits. Gee, maybe something is wrong with right-wing propaganda concerning the evils of socialism. Get you head on straight mister extremists.

[ukipwarrior]

@vikingv111 Socialist government takes over the Sahara desert what happens?? Not much and then there is a sand shortage. The problem with socialism is that you quickly run out of other peoples money.

[vikingv111]

@ukipwarrior loss of jobs to China was due to a manipulated currency so that Chinese goods were always cheaper on the world market. China knew that freely floating its currency would make their products too high prices. China knows that free markets with a freely floating currency was a bad idea if they wanted to grow fast and put everybody else out of business manufacturing goods.

China is proof that mercantile economics works, not free market currencies.

[vikingv111]

@Alieninmyhouse You're the one who should crawl under a hole. You and your kind have destroyed our economy with free market extremism. Utopian ideals never work and today's world economies are proof of it. Private Enterprise, left to it's own devices, runs amok and spontaneously creates speculative bubbles. Unfettered greed will always destroy itself.