Nobel Prize winning economist Joseph Stiglitz talks to Charlie Rose

[No Elephants]

http://www.businessweek.com/articles/2012-10-04/charlie-rose-talks-to-joseph-stiglitz?campaign_id=rss_null

I believe the info at the link is the full transcript of the interview.



I found very interesting what Stiglitz said about the things the head of the Fed had power to do about things like credit card abuse by issuers and chose not to do.

With Democratic Nobel Prize winners like Stiglitz and Krugman at hand, Obama chose Republican head of the New York Fed (Wall Street), Timmeh Geithner and Republican Ben Bernake to head the Fed and tried to hire another Republican to run the Dept of Commerce, but got turned down.

:banghead:

Which departments seemed more important in 2008 than Treasury, Defense and Commerce?

Was Obama's view really that Republicans were best able to run those?

If so, why did he run on change?

[No Elephants]

1. Btw, Stiglitz spoke about Medicare, Social Security, the Cat Food Commission, etc.

[Enthusiast]

2. I would have TIVOed that had I known Stiglitz was on.

They do not list Charlie's guests on my Time Warner thingie.

I agree, No Elephants, that the Obama Administration doesn't pass the smell test on appointments. One can play an EXTREME version of "turn the other cheek" nice guy only so effectively. The President sometimes behaves as if the other side does a better job and has a better understanding on some things. That doesn't exactly endear him to liberals and it raises all sorts of questions. Have I crossed some sort of undefined boundary here?

[No Elephants]

4. I stumbled on Stiglitz via channel surfing.

You have not crossed any of my boundaries, certainly. Not even close.

Obviously, I agree with everything that you said, but disagreement would not cross any of my boundaries, either.

Personal attacks rile me, but I cannot even imagine your doing that.

I don't know which rules apply at DU2 these days, if any, but you have not broken at DU2 rule, either.

[Enthusiast]

3. I read the transcript.

I always agree with the Stiglitz position.

The nation will remain under the control of the plutocrats no matter who is elected. If the Republicans are elected I don't think they will be at all concerned with the deficit. It will be a return to the days of "Reagan proved that deficits don't matter." I suspect we will see all sorts of infrastructure projects and the economy will return to boom times. Or, maybe not.

[No Elephants]

5. I think we would get austerity and trickle down on steroids,at least at first.

He might change as reelection time approached.

I could be 100% wrong, though.

Wouldn't the be the first time, or the thousandth.