The New Fed President: Stiglitz

Stiglitz is either bored or wants to be the replacement Federal Reserve Chairman. It is always a lot of fun to spend other people's money like it is just paper. But wait, it is just worthless paper after all....

The following is from Yahoo's Tech Ticker:

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Stiglitz: With No Chance of Default, the US And UK Should Keep Printing And Spending

Posted Feb 10, 2010 09:23am EST by Gregory White in Investing, Banking

Related: TLT, TBT, UDN, UUP, SPY, DIA

From The Business Insider, Feb. 10, 2010:

Joseph Stiglitz has come out defending the fiscal positions of the U.S. and UK markets and striking at the possibility that they may default.

To the idea that the US or UK could default, Stiglitz said at a speech at the London School of Economics that it is, "so absurd, it’s another reflection of the absurdities in the financial markets."

The Telegraph also reports that Stiglitz said that the U.S. ability to print money to pay off its debt made default even less likely.

Stiglitz also called for a second stimulus to provide certainty in global markets.

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