Live Blogging: “Fixing The World Economy: Stresses And Solutions”
This is a Live Blog of a Thomson Reuters Event on “Fixing the World Economy.” The speakers are Dominique Strauss-Kahn, International Monetary Fund and Chrystia Freeland, from Thomson Reuters.
11:50am: We are about 10 minutes before this event begins. I’m going to be very surprised if I hear any arguments for the Federal government and world organizations doing less, not more.
11:56am: Chrystia Freeland is preparing her questions next to me.
12:03pm: Because of the snow, they said they’ll start the show at 12:10pm.
12:13pm: The event is starting.
12:19pm: Freeland claims that we are talking with one of the most influential men on the economy.
12:21pm: Strauss-Kahn claims that the package that Ireland approved is going to work.
12:24pm: Statements will be made about Greece tomorrow.
12:26pm: It doesn’t appear that Strauss is too sympathetic to taxpayers who don’t want to bailout the banks. He claims there needs to be “a balance.”
12:40pm: Chrystia Freeland is continuing her nonsense in favor of the Estate Tax. Newbusters trashed her today for it.
12:41pm: Q: If Strauss-Kahn was the dictator, would he support more stimulus? Strauss-Kahn wants as much stimulus as possible.
12:46pm: Strauss-Kahn implies that each country working to fix its own domestic economy isn’t good for the world economy.
12:51pm: Strauss-Kahn argues that It is a dream to think that all the economic problems will be solved simply by dealing with Chinese trade imbalance.
12:53pm: Q: What will be the situation for Spain in 2011? A: Prospects are good, but they face a lack of confidence in banking sector. “I don’t see the risk for Spain will be that big in particular.”
12:59pm: Q: How do you deal with the opaqueness of information with China? A: Strauss-Kahn argues that many countries are analogous. Greece didn’t have accurate or useful information. With regard to China, Strauss-Kahn claims that voluntary actions have been taken to investigate its financial sector. We will have the results in the Spring.
1:03pm: Strauss-Kahn argues that the IMF tries to be evenhanded with all Countries.
1:05pm: Strauss-Kahn doesn’t even have time to think about whether he will be the next President of France.
1:10pm: Pat Garofalo of Center for American Progress will now be discussing the event with Michael Moynihan of Reason.com
1:22pm: The segment is about to start.
1:25pm: Michael Moynihan argues that the discussion was vague. Chrystia Freeland is already starting to interrupt. Moynihan argues that many of the banks in Ireland should be let go.
1:29pm: Chrystia Freeland throws in abject nonsense that Strauss-Kahn argued that top tax breaks don’t stimulate the economy. 1) She was talking about the Estate Tax, not an overall discussion on the tax; 2) He simply brushed it off originally as being part of the package. There was no overall discussion of the top tax breaks.
1:31pm: Moynihan argues that most of the new tax bill is pretty good.
1:37pm: Q: Why continue the Irish bailout if nobody thinks it will work. A: Well, EU has no other plan.
1:41pm: Q: World Economy has gotten worse since IMF. Should we end it? A: Moynihan is not for ending the IMF. He’s not going to comment on the gold standard.
1:43pm: The End.