Comments on: How Best To Fix Our Broken Economy?

By: acquarius74

acquarius74 — Tue, 25 Nov 2008 08:22:19 +0000

Thank you, Phoenix Woman, for this diary and your response to my #5.

I’m currently reading 2 books by Greg Palast. There is a history between Larry Summers (to be Obama’s economics adviser) and Joseph Stiglitz, Nobel Prize winner in Economics. Some of the history of these 2 men can be found on pages 151, 153 of Palast’s book, The Best Democracy Money Can Buy. The revealing interview Palast had with Stiglitz can also be found on the Greg Palast website at link below.

http://www.gregpalast.com/the-.....-the-cold/

That globalizer was Stiglitz and his crucifier was Larry Summers. 1999

I would much have preferred that Obama choose an economic team composed of Stiglitz, Roubini, Krugman, and their ilk. I believe their hearts are with the overall good for mankind. I fear Summers is one of the elite oligarchs who will sooner rather than later drive the masses of the world, America included, into virtual slavery through taxation to pay the obscene debt and the interest thereon.

By: Synoia

Synoia — Tue, 25 Nov 2008 07:25:08 +0000

“What saved the economy, and the New Deal, was the enormous public works project known as World War II, which finally provided a fiscal stimulus adequate to the economy’s needs.”

Thom Hartman rebutted this very effectively. WW II actually cut economic growth, becuse war is non-productive expense — its not investment.

Please do the research, and from more than one source.

By: MarkH

MarkH — Tue, 25 Nov 2008 05:57:27 +0000

Don’t forget, Congress this time ’round will be Democrats and not Uncle Newtie. That means Obama will be receiving some regulatory legislation along with health care reform and energy stuff. Don’t underestimate the impact of Congress on the next 4 years (or more).

By: peony

peony — Tue, 25 Nov 2008 04:14:44 +0000

The issue is what happens if/when the economy recovers. The Obama crew will do nothing to change the structure of the financial system and the problems will repeat.

The worm turns. No, I think the upheaval in the financial system is going to force change, regardless of what the high priests of finance or anybody thinks.

By: eCAHNomics

eCAHNomics — Tue, 25 Nov 2008 03:40:42 +0000

Think folks have moved upstairs.

By: selise

selise — Tue, 25 Nov 2008 03:35:47 +0000

His higher priority is unregulated financial markets.

completely agree.

By: selise

selise — Tue, 25 Nov 2008 03:34:43 +0000

don’t think anywhere in my criticism of summers (or geithner) did i bring up the issue of deficits.

By: eCAHNomics

eCAHNomics — Tue, 25 Nov 2008 03:34:01 +0000

The issue is not what is done right now as a result of a stimulus. Rubin is an economics moron but not stupid enough to sacrifice the economy to his ideology. The issue is what happens if/when the economy recovers. The Obama crew will do nothing to change the structure of the financial system and the problems will repeat.

“Deficit hawk” is not the unitary definition of Rubin. His higher priority is unregulated financial markets.

By: selise

selise — Tue, 25 Nov 2008 03:31:19 +0000

question – isn’t the issue whether the criticism is accurate or inaccurate? backed by evidence or not?

By: Phoenix Woman

Phoenix Woman — Tue, 25 Nov 2008 03:28:35 +0000

Selise, Rubin’s a deficit hawk. Yet what are Obama’s people telling Obama to do? Spend like crazy on stimulus, and forget the deficit! So much for their allegedly-slavish worship of Rubinomics.