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Stiglitz: Economic inequality preventing a robust recovery
Nobel Prize-winning economist Joseph Stiglitz on Sunday said the United States would continue to recover from the economic collapse at a snail’s pace unless the middle-class was strengthened. During an appearance on MSNBC, he argued that economic inequality was weakening the economy because it resulted in a lack of demand…
Economist: Obama and Romney afraid of offending the big banks
Nobel award-winning economist Joseph Stiglitz said Wednesday that President Barack Obama and Republican presidential candidate Mitt Romney had failed to mention the housing market recovery because both were afraid of upsetting big banks, who are major campaign contributors. Stiglitz told Reuters TV it was “shocking” that the housing issue hadn’t…
Stiglitz: Greece and Spain are ‘in depression’
Greece and Spain are in “depression, not recession”, Nobel prize-winning economist Joseph Stiglitz said on Wednesday, blaming tough austerity measures for their downward economic spiral. Stiglitz also maintained that the International Monetary Fund was “a little too optimistic” in its forecast last week that the eurozone economy would shrink by…
Joseph Stiglitz tells jobs ‘truthers’ the idea of a conspiracy is ‘literally absurd’
Appearing on Saturday morning’s edition of Up with Chris Hayes , Joseph Stiglitz took on jobs “truthers.” The Columbia University professor and Nobel Laureate in Economics explained the absurdity of former GE CEO Jack Welch’s assertion that the Obama administration cooked the books on yesterday’s jobs numbers in order to…
Stiglitz: Price of inequality is a weakened economy and democracy
Nobel Prize-winning economist Joseph Stiglitz on Thursday said the American dream was “a myth.” “While America likes to think of itself as a land of opportunity, it is less so than any other advanced industrial country for which there is data — poorer opportunities than old ossified Europe,” he told…
Nobel-winning economist predicts Romney recession
Economist Joseph Stiglitz is hitting the media circuit to promote his new book. And as with any good book tour, he’s also throwing out a few political bombshells. Primary example: Speaking to reporters in New York on Monday, the Nobel Prize-winner and former World Bank chief claimed that if former…
Nobel-winning economist supports ‘Occupy Wall Street’
Nobel Prize winning economist Joseph Stiglitz showed up at “Occupy Wall Street” this week to show his support for the protest and clearly outline what he sees as the worst crimes of the American financial sector. In a brief speech amplified by an “echo chamber” of protesters (who shouted Stiglitz’s…
FDIC launches 50 criminal investigations into bankers
The Federal Deposit Insurance Corporation has launched criminal investigations into approximately 50 banking executives involved in the financial crisis, AP reports. Deputy Inspector General Fred Gibson said Wednesday the inspector general’s office at the Federal Deposit Insurance Corp. has been probing the role of the executives in bank failures around…
Bill for Afghan war could run into the trillions
By Eli Clifton WASHINGTON – The U.S. Senate is moving forward with a 59-billion-dollar spending bill, of which 33.5 billion dollars would be allocated for the war in Afghanistan. However, some experts here in Washington are raising concerns that the war may be unwinnable and that the money being spent…
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