Progressive economist skeptical of Obama stimulus plan

01/12/09 Mitch E. Perry
WMNF Drive-Time News Monday | Listen to this entire show:

On Saturday, President-elect Barack Obama’s transition team unveiled a 14-page report claiming his economic stimulus plan will create three to four million jobs by the end of next year.

Dr. Ravi Batra is an economics professor at Southern Methodist University in Dallas and somewhat of a prophet in his analysis of the financial crises.

In 2005, Batra wrote the book, Greenspan’s Fraud, and followed it up in 2006 with The New Golden Age, in which he predicted economic chaos would begin in 2007 with a housing meltdown, followed by a banking crises and share price declines in 2008 and 2009.

He is now predicting the crises will last until 2010 and possibly longer.

WMNF spoke with Dr. Batra about his thoughts about the Obama stimulus plan, or what has reported about it, as of the middle of last week.

Batra's latest book is called, The New Golden Age: The Coming Revolution against Political Corruption and Economic Chaos.

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