One could see it in the economic policy – so disjointed and just plainly off target – so much help for the banks and financial sector; too little for creating jobs and a business climate of recovery. Now, the NYTimes has done a major story on the people behind it – and one can see what a tattered team produced such a mess. NYTimes Peter Baker lopes around the economic advisory scene and the people behind it – and things are not pretty. I had my suspicions when it was revealed that Larry Summers, the top economic advisor was getting multi-millions from the Wall Street banks while shaping the Obama economic policy. The Huffington Posts take is nothing short of a Newfoundland screed; while Reuters Felix Salmon dissects the main arguments for policy incompetence in the extreme. So if you are wondering how Chinese Premier Hu Jintao could be visiting an America so financially and economically weakened in the mano-mano World Economic fight between China and the US that will be the story of the teens decade, you have it all here. This is a must read.
Classic Political Paralysis
media muddle, political potpourri / By Bernard Watcher 2 / October 9, 2007
Allan Greenspan Gardening
economic viewpoint / By Bernard Watcher 2 / October 12, 2007