At a recent community forum on the economy, Professor Joseph Stiglitz argued in favor of temporary bank nationalization, calling it “not that big of a deal” and essential to changing incentive structures. “When the economy recovers, you privatize again,” he said.
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
Faced with the choice between changing one's mind and proving that there is no need to do so, almost everyone gets busy on the proof. —John Kenneth Galbraith
Knowing that the vote over the weekend in Greece was really a referendum on Euro membership, a majority of the Greek Parliament said yes to staying. European Finance Ministers meet again on Wednesday to solidify the 2nd bailout package for Greece at the same time hopefully a deal is consummated between Greece and its creditors this week. The Greek 14.5b euro bond that matures on March 20th is up by 2 pts. The optimism that all will be completed and contained AGAIN to Greece has yields lower in Portugal, Spain and Italy. The iTraxx Financial Index is also narrower by...
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July 19th, 2009 at 10:20 pm
We should bookmark this for when the know-nothings shift from today’s “what, me worry?” mode back into the mode of “why didn’t those useless economists warn us and why can’t they explain what caused” the slow growth recovery that Dr. Stiglitz predicts.