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Economist on 'Bill Maher' Says Buy Spam

May 24, 2010
By James L. Hirsen, J.D., Ph.D.
contributor to Newsmax.com

Back in 2005, Nouriel Roubini, a professor of economics at New York University, warned that housing prices in the U.S. were riding a speculative wave that would harm the economy.

Roubini was mocked and ignored, and his ideas were dismissed. Not any more. Now he’s considered an economic clairvoyant.

He was a recent guest on Bill Maher’s HBO show, “Real Time with Bill Maher.” He shocked the host and liberal audience with his apparent no-confidence statement on the Obama administration’s fiscal policies.

Maher noted that television these days is filled with ads extolling the virtues of investing in gold and asked the economist his opinion on the subject.

“Gold has no intrinsic value,” Roubini said. “If you're really worried about say inflation rising, I would buy Spam.”

“You know, you can eat Spam; you cannot eat gold,” he explained.

Guess if JFK’s White House years are fondly looked back upon as “Camelot,” Obama’s will regrettably be remembered as “Spamalot.”

Reproduced with the permission of
NewsMax.com . All rights reserved


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James L. Hirsen, J.D., Ph.D.
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