Thursday, January 20, 2011

This Weekend’s Big Read: Obama’s Incompetent Economics Team

This weekend, the thing to read is the long article in the New York Times Magazine, “The White House Looks For Work”, which reports on the backstage shenanigans of the Obama administration’s economics team.

Sara Carlson, salesclerk.
Written by Peter Baker, the Times’ White House correspondent (so how hard-ball do you actually think the piece is going to be?), his article is extremely pro-Obama—which paradoxically highlights how incompetent the Obama economics team really is. For instance, the appraisal of Treasury Secretary Timothy Geithner:
At 49, Geithner is relaxed and confident, prone to using words like “cool” to describe esoteric economic ideas, and is so well liked within the administration that he is universally known simply as Tim. He is a surprising survivor, given the lacerating criticism of his early days in office, but he bonded with Obama, who was born just two weeks earlier, and emerged as the strongest figure on the economic team, even if not its most effective public spokesman.

Like the Obama administration itself, the piece seems enamored of the idea that poor communication of policy initiatives is why Obama’s numbers are down—not actually, y’know, poor policies.

The bottom line on what the piece reveals: The Obama administration has no idea how to get the country out of the rut that it’s in. There’s lots of talk about “policy initiatives” and such—but no genuine direction. No world-view. No cogent sense of what caused the crisis, and therefore what needs to be done.

In other words, in the absolutely best case scenario, the next two years will be a collosal waste of time—assuming America muddles along, and there is no major crisis.


  1. Hailing your dictator... unconditionally... is the sign of the times.

  2. I just re-watched The Social Network and noticed that the President of Harvard who was such a dickhead was none other than Larry Summers.

    Too bad he's too self indulged to feel shame from the behavior he's purported to have displayed. I'm taking the step of believing the Winklevoss twins and the film makers wouldn't throw the guy under the bus without cause. After all, most people that do great work do have a sense of shame.

    Back to Summers, those guys are so out of touch he probably doesn't even know he was portrayed in the film.

  3. How anyone can still defend Obama is beyond me.

    Geitner and Bernanke as well as the rest of those "brilliant" economic advisers did not see this mess coming now they are being hailed not because we are thriving but because "it could have been worse."

    This is insanity they threw everything they could think of at the crisis and what have we gotten?

    Scary times ahead under this type of leadership.


Knock yourself out!

The cult of stability is a culture of death.