Monday, August 8, 2011

Galbraith Kicks Butt — Must Read


Selise transcribed another great talk by Prof. James K. Galbraith that covers a lot of ground in leaping bounds.


You don't want to miss this one. Just read it.

6 comments:

Matt Franko said...

Would not use Paul Samuelson's actual name: "Larry Summers uncle" LOL!

beowulf said...

Matt, in that context, I suppose he was referring to Samuelson (the brother of Larry's dad) but as it happens, Mrs. Summers's maiden name was Arrow.

Kenneth Joseph Arrow (born August 23, 1921) is an American economist and joint winner of the Nobel Memorial Prize in Economics with John Hicks in 1972... In economics, he is considered an important figure in post-World War II neo-classical economic theory.... Arrow is brother to the economist Anita Summers, uncle to economist Larry Summers.
http://en.wikipedia.org/wiki/Kenneth_Arrow

Dan Kervick said...

It's even better in the audio version.

Matt Franko said...

Nepotism!

googleheim said...

Tonight on PBS we had Charlie Rose with :

Steve Rattner - "expert on car mfg"

Bill Sahlman - of Harvard Uni.

Nouriel Roubini - Mr. Infrastructure

Bill Gross : PIMPco

Steve Rattner rattled that the "USA owes China $2 Trillion"

It just strikes me again how stupid and out of paradigm these egg heads are.

Does the USA still owe Warren Mosler his money via some bank that it is credited in ?

Does the USA still owe Buffett his piggy bank(s)?

Does the USA still owe all American's their savings ?

NO NO NO NO and NO

They already EARNED the monies and deposited them into accounts, and for China that means a treasury bank account - it's just a special bank account.

THE FACT IS THAT THEY ARE NOT SPENDING IT AND CREATING HEAT IN THE ECONOMY.

DITTO FOR OPEC
FOR UK
FOR JAPANESE
FOR ALL THE REST OF THE HOARDERS WHO ARE SAVING AND NOT SPENDING.

WHEN WILL THIS LUNACY STOP ?

FAR*#$*&#*$&*#$ !!!!

WE DON'T OWE THEM TWICE ...

THEY DID NOT GIVE US ANYTHING ...

PRINTING MONEY ? NO ! NOT PRINTED ENOUGH TO BEGIN WITH IN ANTICIPATION OF THE GOODS ( TOXIC AND WITH LEAD ) COMING IN THE DOOR.

FOR EVERY DOLLAR WE SPEND ON THEIR CRAP, IT IS A DOLLAR INTO THEIR PIGGY BANK - THEIR TREASURY ACCOUNT.

selise said...

thanks tom!