Joseph Stiglitz : Of the 1 Percent, by the 1 Percent, for the 1 Percent

Joseph Stiglitz : 1 Percent of the US takes the Income of 25 Percent " the point is that there has been this growing inequality not only in income but actually inequality of wealth is even much greater , there is a shrinking of opportunity it's not just that the people on the top are getting richer , if they were getting richer because they were contributing more to our society and everybody else was doing well that will be one thing but actually they are gaining and everybody else is decreasing in fact right now it is not just the bottom but even the middle , the median income half above half below are poorer today than they were half a decade ago , so all the growth that has occurred in our country in the last decade or more has gone to the upper 1 , 2 percent at the same time there is really shrinking opportunity ...."

Paul Krugman Explains QE2

Economist Paul Krugman explaining QE2 Quantitative Easing 2 at Haverford College speaking event.
"...I was asked what's the FED is doing when it goes out and buys long term bonds , so what it is really doing is buying long term bonds and selling short term bonds , it is using bank reserves which are in effect short term claims on the US Government , or in some cases it is actually selling off it's holding on short term treasuries to buy long term bonds , meanwhile there is the treasury setting out there that is having a bunch of debt some of it long term debt , in effect the federal reserve is building up that short term debt and paying down some of the long term debt , so what's happening is QE2 is basically a reduction of the maturity of federal government debt and I think it works out as something like ten months of the maturity the average maturity of the federal government debt ...."