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Sunday, October 03, 2010

Nobel Prize winning economist states the bleeding obvious

Joseph Stiglitz, the former chief economist of the World Bank and Nobel Prize winner, has come out and said that he thinks Germany ought to break off the Euro currency. I made more profound statements 5 years ago....When do I get my Nobel Prize? In my Global Market Commentary blog I suggested Spain, Italy and Portugal, given there different cultural values, ought to be on a different currency. I guess my Nobel Prize is in the mail :)
This particular dumb-nut economist is suggesting that 'Keynesian stimulus' might be necessary. In the interests of global peace was he also one of the World Bank, govt-funded economists who supported the stimulus that made the 'extra stimulus' necessary in 2008, or did he back away from that stimulus. Maybe he didn't turn up for that office meeting. Read more in this NZ Herald article.

I am a bigger genius than I thought....I actually said the same thing 5 years ago...read here. There you go!
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Andrew Sheldon www.sheldonthinks.com
Posted by About Andrew Sheldon at 7:13 PM
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2 comments:

kidsolo. said...
This comment has been removed by the author.
8:32 PM
adit said...

Keynesian style stimulus is just one of the things that have brought Australia in the best post GFC position out of all OECD nations. Granted it was in a better position going into the crisis, and cushioned by unfaltering world demand for commodities; but the stimulus package actioned by the Rudd government is credited by at least 50 academic economists for keeping Australia out of technical recession, instead back on the growth path.

People have debated the efficacy of the eurozone for years. The reason it's in the headlines at the moment is because these issues coming to a head. Stiglitz's main point isn't even on the eurozone. He's talking about misguided austerity measures governments in europe are taking to address recession, with breaking up the eurozone instead one of the mechanisms for dealing with this.

Thank you for stating your bleeding stupidity.

8:38 PM

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