Out Takes: Juan Enriquez looks for a clear road map for the stimulus

Tuesday, February 17, 2009

President Obama is preparing to sign the $787 billion stimulus package today. It’s a spending plan that will send the nation deeper into debt in an effort to buoy our economy. It’s also a move that sends deep doubt through Juan Enriquez. He’s a bestselling author of The Untied States of America, businessman, academic, and now managing director at Excel Medical Ventures and he has some serious opinions on the stimulus package.

Here is Juan Enriquez's talk at the 2008 TED conference:


"The last thing empires do is drive themselves into bankruptcy. And it's happened empire after empire, it's happened to king after king."
— Businessman and academic Juan Enriquez on the government's spending as part of the economic stimulus package

Guests:

Juan Enriquez

Hosted by:

Daljit Dhaliwal

Comments [4]

Gary

Juan's ideas on biotech and robotics are interesting, but he offers no economic solutions. The idea that choking off spending and debt we will produce jobs is laughable. The real problem is that we need a replacement for the technology called money. It's amazing that because of economic problems people are forced to stop activities, i.e. jobs, that produce wealth. This downward spiral is the same kind of herd behavior that allows buffalo to run over a cliff. And Enriquez has no compunction about exacerbating the crisis with these kinds of statements. Let's all stop borrowing, stop working and let the folks holding the money call the shots? I don't think so.

Mar. 01 2009 09:31 AM
Jon

"The last thing empires do is drive themselves into bankruptcy."

REALLY? That was the last action of the Eastern Roman Empire? It wasn't the Ottomans attacking them and a great wave of Islamic conversions? And the Carthaginians? It wasn't their foolhardy attack on Rome and military defeat that destroyed their empire? And the Germans? The last thing they did before defeat in WW2 was...to go bankrupt? Huh?

Juan Enriquez, where in the world did you study history?

Feb. 18 2009 09:28 AM
Estnyc

What a smug jerk this guy is. He's obviously got money coming out of his ass. God forbid the government should spend money on "entitlements" like Social Security and health insurance. Let's cut spending to the bone and totally destroy the economy now, shall we? If "entitlements" means taking money from jerks like him and putting it in my pocket, it's fine with me.

And where do you get off accepting uncritically his assertion that the $785b stimulus is more expensive than the $3t cost of Iraq? I thought you were supposed to be journalists!

Feb. 17 2009 09:29 AM
Mark Brown

Hey, I think I actually agree on this segment. I said on 1-30: (here) http://sos-newdeal.blogspot.com/2009/01/gdp-down-so-called-recession-no.html

that it will take between 10Trillion dollars (for sub-prime CDO's) and
50-80 billion dollars ALL over to

clear the ENTIRE banking CRISIS..

We need to BAN ALL CDO's No more tricky unethical options!
see here:
http://sos-newdeal.blogspot.com/2009/02/no-more-cdos-start-now-stop-now.html

Feb. 17 2009 09:28 AM

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