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Thread: Noble Prize winning ecomomist speaks to OWS in NY

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    Noble Prize winning ecomomist speaks to OWS in NY

    Joseph Stiglitz, Nobel Laureate, economist, and professor at Columbia University spoke to the protestors in Zuccotti Park yesterday. Because the protesters have been denied the right to use megaphones, he paused in between lines for the crowd that had gathered around him to repeat his words more loudly. He encouraged the protestors, and affirmed that they were doing the right thing in standing up to Wall Street. Here is an excerpt from his remarks, and a video clip.
    “You are right to be indignant. The fact is the system is not working right. It is not right that we have so many people without jobs when we have so many needs that we have to fulfill. It’s not right that we are throwing people out of their houses when we have so many homeless people.
    Our financial markets have an important role to play. They’re supposed to allocate capital, manage risks. But they misallocated capital, and they created risk. We are bearing the cost of their misdeeds. There’s a system where we’ve socialized losses and privatized gains. That’s not capitalism; that’s not a market economy. That’s a distorted economy, and if we continue with that, we won’t succeed in growing, and we won’t succeed in creating a just society.”

    Joseph Stiglitz ecouraging protestors in Zuccotti Park. « Dover Beach
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    Re: Noble Prize winning ecomomist speaks to OWS in NY

    If a Nobel Prize winning economist is on board it sort of makes me reconsider my support.

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    Re: Noble Prize winning ecomomist speaks to OWS in NY

    Quote Originally Posted by 1Perry View Post
    If a Nobel Prize winning economist is on board it sort of makes me reconsider my support.
    Agreed... now I'm REALLY suspicious.
    “I think if Thomas Jefferson were looking down, the author of the Bill of Rights, on what’s being proposed here, he’d agree with it. He would agree that the First Amendment cannot be absolute.” - Chuck Schumer (D). Yet, Madison and Mason wrote the Bill of Rights, according to Sheila Jackson Lee, 400 years ago. Yup, it's a fact.


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    Re: Noble Prize winning ecomomist speaks to OWS in NY

    This is a professor that probably makes $200k a year while teaching less than 1 hour per week.
    I love the smell of burning moonbat in the morning.

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    Re: Noble Prize winning ecomomist speaks to OWS in NY

    Quote Originally Posted by 1Perry View Post
    If a Nobel Prize winning economist is on board it sort of makes me reconsider my support.
    The Nobel Prize has lost all credibility to me. Obama?? Give me a break. (I do like what the guy said though.)
    The devil whispered in my ear, "You cannot withstand the storm." I whispered back, "I am ​the storm."

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    Re: Noble Prize winning ecomomist speaks to OWS in NY

    Quote Originally Posted by MaggieD View Post
    The Nobel Prize has lost all credibility to me. Obama?? Give me a break. (I do like what the guy said though.)
    A gore got one too



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    Re: Noble Prize winning ecomomist speaks to OWS in NY

    Quote Originally Posted by conservativeguy View Post
    This is a professor that probably makes $200k a year while teaching less than 1 hour per week.
    I would be shocked if this guy made less than $1 million per year. What do you think he charges those wall street firms when he goes on the rubber chicken circuit or does some consulting.

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    Re: Noble Prize winning ecomomist speaks to OWS in NY

    Okay, economics deals with numbers that represent the dynamics of supply and demand and how they relate to each other. Anyone who claims to be an economist and goes straight to an emotional appeal is a dolt, a pure and simple de facto idiot. How can this guy call himself an economist and then complain that lien holders are wrong for calling an unpaid loan, the lien holder cannot absorb the costs forever and will in fact lose money(just not as much as not calling the loan) in a default during this market, it's not as if they are anxious to kick people out of the homes, even the most uncaring human knows that the monetary loss is not a plus.

    Next this jackass complains about the socialization of losses and privatization of gains........he's half right in that we never should have bailed out companies and they should have been told to sink or swim. But he's half wrong in that he complains about "privatized gains"....hint hint mr. "economist" that's how it works gains are a private club, members only, investment being the dues.

    If this guy had been honest he could have condensed his remarks to "hee Haw....Hee Haw".
    Last edited by LaMidRighter; 10-11-11 at 11:50 PM.
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    Re: Noble Prize winning ecomomist speaks to OWS in NY

    Quote Originally Posted by TurtleDude View Post
    A gore got one too
    So did Milton Friedman

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    Re: Noble Prize winning ecomomist speaks to OWS in NY

    Quote Originally Posted by winston53660 View Post
    So did Milton Friedman
    Friedman wasn't an asswipe hypocrite



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