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Ben Stein discusses the State of the Economy

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Ben Stein, the key note speaker for the Texas ACG Capital Connection met all expectations with his dry sense of humour and informative narrative. With insights into the economy that were all generally positive, he provided several interesting, and at the same time sobering, perspectives. The good news is that the economy is off the critical list. One of the events that has allowed this to happen, according to Mr. Stein, was not the stimulus but rather Bank of America's willingness to purchase Merrill Lynch. This event stabilized the banking industry and has kept the system from total collapse. Unemployment is still a problem for which no one has a short term answer. The stimulus did not work and there is still not and there never has been any empirical data to support the notion that stimulus will have a net positive effect on the economy and therefore tax revenues. The housing market remains an issue due to the still anemic interest in housing loans. Another interesting observation is that we are paying too much for people to remain unemployed. China will inevitably rise to a global power with a GDP that exceeds the United States. Being an inevitable event, this should be embraced, "we can sell them a lot of goods," says Stein. And, by the way, "China will not likely want to go to war due the amount of US debt China holds." A few other zingers from Stein: · The economy needs adult supervision · Stimulus money does not translate into a stimulated economy and increased tax revenues · It is a myth that men and women will seek to maximize their utility and well being · Our educational process is lagging the rest of the world, and a more frightening observation, there is a lack of a willingness to work

Award-Winning Entertainer, Writer, and Economic Expert

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With his signature dry wit and delivery, Ben Stein provides an intellectual and humorous look at politics, the economy, and current affairs. A former presidential speechwriter, economics and securities law instructor, and Emmy Award-winner, Stein is a versatile speaker who is equally comfortable addressing college graduates or seasoned executives.

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Economic OutlookAI, Machine Learning, & Big DataMedia
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