Stiglitz: Wall Street Is Hyping Up The Economy To Sell More Stock

[girl gone mad]

Run time: 01:30 https://www.youtube.com/watch?v=k8oB-yDylb4   Posted on YouTube: January 07, 2010 By YouTube Member: Views on YouTube: 0   Posted on DU: January 08, 2010 By DU Member: girl gone mad Views on DU: 1033

 
Bloomberg caught up with economist Joe Stiglitz who says the low rate environment suggests markets overvalued, that companies are making profits only off the back of laid-off workers, and that Wall Street is hyping up the economy purely to sell stock.

http://www.businessinsider.com/stiglitz-wall-street-is-hyping-up-the-economy-to-sell-more-stock-2010-1

[DeSwiss]

1. Of course something's being done....

...to address the deriatives problem Professor Stiglitz.

- We've hired the people responsible for setting them loose upon us in the first place -- again.

K&R

"America is run largely by and for about 5,000 people who are actively supported by 50,000 beavers eager to take their places. I arrive at this figure this way: maybe 2,500 megacorporation executives, 500 politicians, lobbyists and Congressional committee chairmen, 500 investment bankers, 500 partners in major accounting firms, 500 labor brokers. If you don't like my figures, make up your own......" ~ Robert Townsend, former head of Avis

[ihavenobias]

2. K & R n/t

[OhioChick]

3. K&R n/t

[alittlelark]

4. "When is the next crisis going to happen'

The 'best and brightest' are asking this question.......

[girl gone mad]

6. Both Stiglitz and Simon Johnson, on the same day...

said it's now only a question of "when", not "if".

[divideetimpera]

5. you should have seen them hyping the economy right before Xmas

trying to make it seem like the economy was coming right up real soon. They were hoping to spur people into spending more $ on xmas presents. THe media is controlled by the retailers and banks and pharmacos. They survive off the advertising dollar, so they do whatever their advertisers want.