So he is dependent on his advisers and appointees.
Plus Obama knows bugger-all about economics and finance.
That is actually a plus.
Because everything his advisers know is based upon a specific - demonstrably useless - legal paradigm.
I am sure he is bright enough to recognise a solution when he sees one, particularly if - as I believe - this solution involves legal innovation. "Any economic unit can emit money. The serious problem is to get it accepted" Hyman Minsky
everything his advisers know is based upon a specific - demonstrably useless - [legal] paradigm
Because he knows bugger all about economics and finance he lacks the self-confidence to tell his advisors to bugger off. Most economists teach a theoretical framework that has been shown to be fundamentally useless. -- James K. Galbraith
