Time Magazine - A few years ago, when Greece was still at the start of its slide into an economic depression, the Nobel prize-winning economist Joseph Stiglitz remembers discussing the crisis with Greek officials. What they wanted was a stimulus package to boost growth and create jobs, and Stiglitz, who had just produced an influential report for the United Nations on how to deal with the global financial crisis, agreed that this would be the best way forward. Instead, Greece’s foreign creditors imposed a strict program of austerity. The Greek economy has shrunk by about 25% since 2010. The cost-cutting was an enormous mistake, Stiglitz says, and it’s time for the creditors to admit it. Read more.
Donald Trump — who has made a habit of demeaning black public officials and celebrities with “low IQ” or “dumb” slurs — waded into the Virginia blackface scandal on Sunday morning, feeling the need to speak for African-Americans. Read more.