AMERICAblog: Nobel-prize-winning economist Joseph Stiglitz talks to me about the true cost of the war in Iraq, high oil prices, and the mortgage crisis
freewayblogger
· 1 year ago
Entirely off topic as usual, and my apologies, but here are some bicycle boxes applied to the freeways:
the first pic's pretty cool... so is the one with the eucalyptus tree.
tbhull
· 1 year ago
Mortgage crisis, no need to worry. Good mother government with an unlimited amount of money will solve the problem, at least for the bank troubled by this.
Let's see, Washington Mutual announced yesterday afternoon after the market closed that they lost $3,300,000,000, a loss more than three times the analysts' estimated loss predictions. Today, Washington Mutual's share price rose as much as 9.7% after this devastating capital jeopardizing loss.
The day before Wachovia Bank, the nation's 4th largest bank, lost $8,900,000,000, well in excess of analysts' estimated loss predictions, yet this issue rose 27% yesterday and has risen as much as an dditional 16.4% in today's trading.
What gives? Well, I would wager that the feds opended the discount window up to the brokerages (Lehman, Goldman Sachs, Merrill Lynch and Morgan Stanley) and allowed them to "borrow" taxpayer dollars (in other words loot the Treausry) with the proviso that they purchase shares of ailing/failing banks like Wachovia and Washington Mutual.
When the current shareholders of these various shit banks dump their shares at a decent price in an inflated market today and the banks thereafter fail it will be the fed (i.e. the Treasury and the taxpayer) that gets left holding the bag of shit. Alternatively, the government could come to own all banks indirectly.
"Free" market my ass, this is a government's market.
GWIGWI
· 1 year ago
Is Aravosis a hunk or what?
Bubbles
· 1 year ago
In April 2003, I check the CIA factbook on Iraq for their GNP. In 2002, the estimated GNP was approximately $52 billion.
So we're paying over $3 trillion for a $52 billion country. I recall reports that, right before the war, Saddam was willing to abdicate for $1 billion and safe passage. Regardless, it seems we could have gotten the nation, lock, stock and infrastructure in tact and little or no casualties on either side for a fraction of a fraction for what this war has cost us on every conceivable level.
GWIGWI
· 1 year ago
If there is a blogger calendar - Aravosis should be Mr. July - hot and sizzling - like NYC right now.
blackwolf
· 1 year ago
What in the hell is wrong with you people! Halle Berry is hot. Stay on track admiral.
jr
· 1 year ago
John should have a cable news show or syndicated radio show
SociologistTina
· 1 year ago
Yes!
SociologistTina
· 1 year ago
Thank you SO much for this! I haven't listened to it yet, but it SOUNDS phenomenal. Yes, I know what you mean about my "favorite professor." (!)
gradstudent
· 1 year ago
So John, are you single? :)
John Aravosis
· 1 year ago
Yes :-)
blackwolf
· 1 year ago
What's worng with you gradstudent? That's like me emailing Arianna Huffington and asking her if she's single! You know what, I might just do that. Anyhow, none of that *hit on the blog. Keep it clean.
FunMe
· 1 year ago
John you're looking great!
I'll listen to this at home.
John Aravosis
· 1 year ago
Mr. July? Yes, well anyone looks good in Greece, but thanks :-) And yeah, I do hope folks watch the video. He was amazing. Especially in the last two videos. They only total 22 minutes or so all 3 together, so they're quite watchable. I now know that Stiglitz is a huge deal in progressive economic circles (thus the Nobel prize).
blackwolf
· 1 year ago
Haha. John gets to inteview a nobel prize winner, and I spent my day at Denny's***&^!
All Comments
http://freewayblogger.blogspot.com/2008/07/bike...
the first pic's pretty cool... so is the one with the eucalyptus tree.
Let's see, Washington Mutual announced yesterday afternoon after the market closed that they lost $3,300,000,000, a loss more than three times the analysts' estimated loss predictions. Today, Washington Mutual's share price rose as much as 9.7% after this devastating capital jeopardizing loss.
The day before Wachovia Bank, the nation's 4th largest bank, lost $8,900,000,000, well in excess of analysts' estimated loss predictions, yet this issue rose 27% yesterday and has risen as much as an dditional 16.4% in today's trading.
What gives? Well, I would wager that the feds opended the discount window up to the brokerages (Lehman, Goldman Sachs, Merrill Lynch and Morgan Stanley) and allowed them to "borrow" taxpayer dollars (in other words loot the Treausry) with the proviso that they purchase shares of ailing/failing banks like Wachovia and Washington Mutual.
When the current shareholders of these various shit banks dump their shares at a decent price in an inflated market today and the banks thereafter fail it will be the fed (i.e. the Treasury and the taxpayer) that gets left holding the bag of shit. Alternatively, the government could come to own all banks indirectly.
"Free" market my ass, this is a government's market.
So we're paying over $3 trillion for a $52 billion country. I recall reports that, right before the war, Saddam was willing to abdicate for $1 billion and safe passage. Regardless, it seems we could have gotten the nation, lock, stock and infrastructure in tact and little or no casualties on either side for a fraction of a fraction for what this war has cost us on every conceivable level.
I'll listen to this at home.