One of America's leading economists Joseph Stiglitz joins Lateline to discuss his predictions on the subprime mortgage crisis which has burst the US housing bubble and fiercely shaken the debt-ridden domestic economy. http://www.abc.net.au/lateline/content/2007/s2236161.htm
Stiglitz couldn't be a more left-wing communist World Bank egg-head....but in this case I agree with him But you do realize that some Ozzie's like to revel in America's impending demise.
More doom and gloom garbage. Think about it, people are going to default on their credit cards and...... have more disposable income!! Subprime jokers are going to abandon their houses and.... people with money will buy the things and rent them out!!! And America was already bankrupting itself for 60 years with the War....... on poverty!! And somehow, a $150 Billion stimulus package is not going to do a thing. The intro to the article says that the subprime problem burst the real estate bubble. Bubbles all burst, the subprime thing did not cause it, it probably prolonged the bubble a bit but they all burst at some point... for pure idiocy, I would give that article an 8 on a 10 scale........ the guy's last good job was as a Clinton appointee, maybe he's polishing the old apple for the next Democratic administration...
stiglitz hates bush and is grandstanding. the cost of the war is not going to bankrupt the country. our economy is large enough to pay for it. whether or not is was a good idea is something else altogether.
Only a few lefty wanker Aussies like Bogan7 on this board. The ABC in Oz is the government funded station, like it's counterpart the BBC in the UK, and like the BBC it's left wing bias is breath taking.
Stiglitz may be whatever ET guys say he is, but he is also correct! That's got to be worth something.
Boo hoo hoo cry me a river The market is going higher and even if the nation is in debt as long as my stocks are going up I don't really care.
I think a greater concern is demographics and transfer of good jobs out of the USA. A large part of the USA population is approaching retirement age and might expect to collect social security, medicare and other senior citizen benefits. If high wage jobs leave the USA then who pays for these senior citizen benefits?