Tuesday, October 12, 2010

Economist Joseph Stiglitz Warns Of Malaise “With No End In Sight”

Writing in last week’s Sunday Telegraph, leading economist Joseph Stiglitz warned that the world economy faces a “Japanese-style malaise, with no end in sight.” What makes matters worse, he adds, is that Japan’s “lost decade” of low growth was accompanied by low unemployment and high “social cohesion”—unlike now.
Stiglitz, once the World Bank’s chief economist and an adviser to the Clinton administration, is currently an economics professor at Stanford University. He said the “immediate future” looks like “a dismal picture”.
He was voicing his thoughts on the eve of the October 14 publication of a paperback version of his book, Freefall: Free Markets and the Sinking of the Global Economy. He described how, “Events have (sadly) unfolded much as expected: growth has remained weak, sufficiently anaemic that unemployment has remained stubbornly high; mortgage foreclosures have continued apace and, while bank bonuses and profits have been restored, the supply of credit has not, even though the resumption of credit was supposedly the reason for the bank bailout.”
Stiglitz criticised “the extent of the banks’ fraudulent and unethical practices” and the way that they have been able to water down new regulations to the extent that “the prospect of another crisis down the road remains not insignificant.”
“We have bought ourselves a little extra time before the next crisis”, he stressed.
More Here..


  1. wow wow wow did not know this was a socialist blog. The article with max kaiser being interviewed by a muslim, the mockery of Ron Paul on Utube, and now this article on Stiglitz. How come I never picked up on this before?

  2. Wow ,wow wow .
    "How come I never picked upn this before?"

    Its pretty simple really why you do not understand a 'balance" news site might put forward any different viewpoints.
    Its a socialist plot!
    Because think that everybody not agreeing with your own views must be a godamn socialist.
    You equate your amerikkkanism with anti-socialism and while wearing your ideological conditioning glasses , you only know how to squint and can’t tell the difference between people and economic ideas .

    For you ,in your paranoia If Max Kaiser talks to a Muslim they must BOTH be anti-american socialists.

    Kaiser would perhaps be surprised to hear he was a socialist.
    And probably the Muslim too.
    The Muslim, no doubt you think , wants to replace the NY Fed with a gold and silver currency issuing mosque.
    And that in the same city as a well known sacred American site . Wall St.
    How anti-american could you get!

    Stiglitz is a “Keynesian” attempting to prop a collapsing bankrupt capitalist system with more deficit spending subsidies –“for a little extra time”, but in your mind that makes him a socialist too . Right?

    Only Bush style military keynsionism is acceptable to you as Americanist economics . All else cometh of evil.
    To the wall Stiglitz!

    And every american as patriotic anti-socialists must kiss Ron Pauls anti-socialist silver and gold plated ass, no mockery or laughing allowed .

  3. I hate both capitalists and socialists. I'm enjoying what's happening on earth at this very special time. Sit back and watch it like a movie. Haha! The fall of perverse rulers and the fate of an asshole species.

    The ignorant masses can keep engaging each other in the fields of polarity trying to advance their belief systems. I'm beyond duality because I don't have any beliefs so I'm very cozy being neutral. I'm up on a cloud as everyone else panics to maintain their egos.

    I don't know how this will end but I wish I could find someone who isn't scheming or trying to find conflict with humans. Oh well.

  4. doesn't seem to balanced lately. Probably is a socialist plot. Kiss my ass

  5. "an asshole species".
    And the very worst of that asshole species is that variety that claim an intelectual superiority, an indifference to the problems of the masses of humanity ,that claims to sit on a cozy cloud ,no doubt supporting peaceful non violent contemplation while opposing any capitalist or socialist solutions to the species economic and social problems .
    A being only aware of its own superior individualist existance, but now so devoid of any human love ,hate or social feelings for the fate of their own species, That they can even claim ,in their own mind .to be no longer a part of that asshole species and beyond its petty human concerns.

    Sit back and watch it like a movie.
    call your movie 'Personal Nirvana on cloud 9"


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