A Conversation About Obama’s Economic Stimulus Package
Friday, January 9th, 2009
Charlie Rose interviews Joseph Stiglitz, a professor of economics at Columbia University and author, and Harvard economist Martin Feldstein about President-elect Barack Obama’s economic stimulus package, on Jan. 6, 2009.
(The interview runs 60 minutes).
I am not a financial expert, I am an older American citizen that has been aware of the artificiality of the “free market” system promoted by the last three administrations. It is obvious that politics cannot be the primary consideration of those charged with restoring the confidence of the ordinary citizen. I also, suspect there are those who have contributed greatly to the present condition of the economy who have not been called to answer for their criminal behavior. I know that blame will not solve the problems of our financial condition but it is necessary to demonstrate a resolve that assures American citizens and the world that we are accountable and aware of what and who caused the economic nightmare we now experience.
In my humble opinion President Elect Obama should again involve the American public to sustain the hope and trust he will undoutably need in the next years. Obama has demonstrated his ability to inspire, he must maintain the faith of the people who have elected him. Money alone will not resolve the problems we face as a nation.
The deregulation that allowed co-mingling of money instruments and the creation of hedge funds, derivatives, sub-prime mortgages etc.started the collapse of our financial system, the same crowd of people who engineered this mess are driving the train again. The glaring destruction of our industries and production capabilites,which resulted in defining the economy as(credit supported consumerism) couldn’t possibly have resulted in any thing other than what we are experiencing.If these “elephants” aren’t being recognized NOW, by our “engineers” I would advise the American people to investigate the “One World Economic Order” path they seem intent on taking us down.