Photo: Munk Debates
Larry Summers, Paul Krugman, and David Rosenberg are engaging in a live debate right now.You can watch it here.
Rosenberg has just gone on a long discussion about what it will take to fix the economy.
He started off joking that what we need is three things “9,9… and what’s the other thing.”
But in seriousness he went on to offer some energy ideas (natural gas investment) tax reform (eliminate loopholes) and perhaps “maybe it’s time for a grand jubilee”, something to fix people’s debts.
Until you get rid of all the people underwater on their homes, there’s nothing that can be done to really fix the economy. So somehow, says Rosenberg, you need to get people back overwater on their homes.