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Stiglitz on Primetime last night

Flamed Diving · 2009-10-07 15:26:21

http://www.rte.ie/player/#v=1057017 From 12mins on, describes NAMA as criminal, among other comments.

07-10-2009 3:26pm

#1

Flamed Diving

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http://www.rte.ie/player/#v=1057017

From 12mins on, describes NAMA as criminal, among other comments.

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Comments

#2 07-10-2009 6:31pm

collegeme

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Saw it last night and found it very interesting about what he had to say.

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#3 07-10-2009 7:27pm

leninbenjamin

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full interview on the primetime page. (a lot more interesting than the heavily edited primetime sound bites)

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#4 07-10-2009 8:53pm

Flamed Diving

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His point about faulty measurement of GDP goes back to what I was saying in another thread about investment banks. It seemed that during the heights of the boom, 40% of corporate profits in the US were from the financial sector, and it was all phoney. This is what I mean by financial services not creating wealth, in themselves, but merely facilitating its flow and taking a cut of the winnings, of course this often leads them to create means of inflating these winnings, which is what we witnessed over the past two decades. No real growth, just nominal.

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