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April 28, 2009 NailingEdit
- book: "Dumb Money: How Our Greatest Financial Minds Bankrupted the Nation"
- to revive the economy we need to stop saving and start spending; Stephen will charge him $1000 for the interview
- Newsweek article
- national savings rate is 5%
- S&P companies have money not doing anything
- Paradox of Thrift
- is we all save, we all get poor
- paradoxes often have contradictions
- buying gives pleasure and jobs
- we owe Bush an apologize
- never said anything bad about Bush
- need a reckless bubble
- during the bubble we spent borrowed money
- we will be like Japan
- they have robots, heated toilet seats and robot toilet seats
- they have hottubs and trains
- Japan doesn't grow
- very racist
- not a lot of immigration,
- we need to grow at 1.5% every year