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Desc:Ron Paul's Peter Schiff isn't the only guy who predicted this, you know...
Category:Educational, News & Politics
Tags:economics, crisis, Peter Schiff, paul krugman
Submitted:baleen
Date:12/06/08
Views:1290
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Comment count is 6
baleen
multipart system broken again.
Desidiosus
This has nothing to do with anything, but Krugman looks a lot like my brother.
Hooker
I flipped past CNN a few days ago, and who was discussing whether or not the U.S. government should bail out the auto industry? Why, Ben Stein and John Stossel, of course.
IrishWhiskey
Let me guess how that went:
"The government should bail out the auto industry because otherwise its survival of the fittest, which leads to Darwinism, Atheism and genocide."

"No, the government shouldn't bail them out, because the only people who would lose jobs are those who are poor, minorities, or retards. And when they go on welfare and start shooting each other, its more stuff for me to get indignant about."

Anyway, back to the video of someone worth listening to.

Hooker
Oh, I didn't watch it long enough to get any sense of it except Stein was pro-throwing money at it and Stossel was against it. I just watched up to the point that the incredulity of it wore off, then I watched some hockey, I think.

Coax_Current
5 for Krugman's work, and -1 for so little said on what it encompasses. Krugman's very humble about it all, but it's worth more than a handful of summary sentences. I'm looking forward to his Nobel lecture coming up on Monday.

Lots of people knew the financial crisis was coming, and they were mocked and dismissed. Seeing something is sure easier than fixing the mess though, and if we want to know how fucked we are when it comes to "solutions," look no further than the Nobel Laureate advice roundup from October:

http://www.newsweek.com/id/165189

You can feel the nervous helplessness in their responses. They're all smart enough to know what they're offering is basically impotent, and not likely to be acted upon anyway. At least Stiglitz has the chutzpah to keep bringing up the billions wasted as defense spending.
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