tag:blogger.com,1999:blog-6920488656220463337.post4173676997906498795..comments2024-02-07T19:30:21.880+11:00Comments on Left Focus: The Crisis Down-Under - Joseph StiglitzVaughann722http://www.blogger.com/profile/11604027151490275320noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-6920488656220463337.post-72139113845506084142010-10-15T13:20:39.278+11:002010-10-15T13:20:39.278+11:00Wherever you go, you can really see and feel the e...Wherever you go, you can really see and feel the economic recession in a lot of countries nowadays. But there are many tips from different <a href="http://www.npsteam.com" rel="nofollow">nonprofit fund accounting</a> sectors that will improve our finances and somehow, will make our economy rise.Verna Derosierhttps://www.blogger.com/profile/06451276051179176065noreply@blogger.comtag:blogger.com,1999:blog-6920488656220463337.post-64310307974200945382010-09-19T13:42:39.789+10:002010-09-19T13:42:39.789+10:00According to this paper http://www.socialpolicycon...According to this paper http://www.socialpolicyconnections.com. ... ch2010.pdf Australia's foreign debt is not so much that of which our government generated, but rather from our private sector...namely the major banks! While debt generated by the government to shield us from the GFC was for our benefit, I can't say the same for that generated by the banks...who incidentally made huge profits along with the generation of huge foreign debt! Both major parties should look at regulating the banking industry again imho!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6920488656220463337.post-41358385447337522512010-08-15T19:57:27.993+10:002010-08-15T19:57:27.993+10:00To my way of looking at it, Stiglitz is arguing th...To my way of looking at it, Stiglitz is arguing that the ruling class should endorse those of its representatives in the government who took steps to pour representations of wealth (money) into projects which resulted in 'job creation' thus, fending off unemployment. Unemployment is a drag on 'the economy' because it means less is being produced and is able to be consumed. A downward spiral ensues from this paradigm and the capitalist system suffers. Capitalism actually does better when workers are employed making wealth and consuming part of the wealth which isn't being exported. This makes other capitalists happy as well--they get to export the excess wealth to markets where unemployment, thus spending remains steady and stable. Steady and stable is what Capital needs to grow. <br /><br />The conservatives, on the other hand, think stimulus spending is wasteful and debt burdening. Stiglitz says they're wrong headed. Stiglitz is right about this. Nobody wins during a Great Depression.Mike Ballardhttps://www.blogger.com/profile/05410520975856239745noreply@blogger.com