In-depth analysis on Credit Writedowns Pro.

Galbraith and Buffett think a second stimulus is necessary

In reaction to recent comments about more stimulus by Laura Tyson, an advisor to President Obama, we have seen a host of commentators make their opinion known.  Here are two more  well regarded pundits: James Galbraith and Warren Buffett.  They are both indicating more stimulus is necessary.

James Galbraith makes his point on Bloomberg.  His recommendation is that stimulus address specific problems and be designed to add stimulus more quickly than with the first package.  The video is below.

Similarly, Buffett made noises about the need for more stimulus this morning on ABC. He said the first stimulus was filled with pork and was not as effective as it could have been.  His comments are available at the link at the bottom of this post via a four-minute video on ABC’s website.

Source

Warren Buffett Backs Second Stimulus – ABC News

About 

Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty years of business experience. He is also a regular economic and financial commentator on BBC World News, CNBC Television, Business News Network, CBC, Fox Television and RT Television. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College. Edward also writes a premium financial newsletter. Sign up here for a free trial.