I concur.
On the other hand, I am not lamenting the election anymore, as nobody could fix this and remain popular.
Obama is clueless with regard to economics. Clueless.
He has no choice but to hyperinflate, and will.
He will emulate the worst mistakes of FDR - the architect of the Great Depression, and try to blame it all on Bush as much as possible.
All of these Neo-Keynsians are out and about now... for some reason they are all in vogue again. Like people have quickly forgotten one of those minor details about Keynsian solutions: They don't work!
Stiglitz is my favorite.
Okay, he won a Nobel Prize in Economics - but for theories which have NEVER been empirically proven.
His funniest moment came just a short while ago, when again, he was blaming things on Ronald Reagan for deregulation.
Stiglitz is the most clueless economist since Galbraith, yet he is now being feted as some elder statesman with a grasp on economic principles.
Stiglitz's first book was impossible to read, as he went on and on blaming all of the world's ills on Ronald Reagan. He forgot to mention that he spent 8 years on Clinton's cabinet and had ample time to regulate everything.
So it's a good thing that this avalanche we are facing will bury Obama, the bad thing is the damage he will do while it is happening.
The damage may be irrepairable and catastrophic. He is an international marxist with a mission to destroy capitalism. He has the tools to do it in place. He will turn us over to the UN and he believes in subordination of the United States to the International Socialist order.