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It's disaster across the board on the economic team.

Romer, last I checked, was leaving (she may have already).  You'll recall she was the one who said we needed a $1.2-1.4tn stimulus, and we now know her memo saying so never even made it to Obama.  That's catastrophic, but who can blame her?  If she stays, she'll be ignored anyway, plus she'll lose her tenure at Berkeley.

Volcker hasn't technically left, as far as I know, but they haven't listened to him from the start.  Same with Goolsbee, who was quickly kicked off to the "Recovery Board" with Volcker.  I suspect both of them will be gone soon.

So everybody with half a brain on economics and an ounce of political common sense has basically left.

Conservatives want live babies so they can raise them to be dead soldiers. - George Carlin

by Drew J Jones (myfriends@thisispancakes.com) on Sun Aug 29th, 2010 at 12:35:21 PM EST
[ Parent ]
Looking like we're going to have to hit rock bottom before the politicians realize the Neo-Classical school is plain & simply Full Of It.
by ATinNM on Sun Aug 29th, 2010 at 01:01:12 PM EST
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No. conservatism doens't fail, conservatism is fialed. If the solutions conservatism serves up don't work, it's because they weren't done hard enough or for long enough. And absolutely not because they're complete bollox from top to bottom.

keep to the Fen Causeway
by Helen (lareinagal at yahoo dot co dot uk) on Sun Aug 29th, 2010 at 01:17:09 PM EST
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You have a problem with neo-feudalism why, exactly?

Conservatism succeeds for conservatives. It may fail everyone else, but as far as conservatives are concerned there's no lack of everyone else to go around - and they have no guns, no money, and no lawyers.

Therefore, insignificant and disposable.

by ThatBritGuy (thatbritguy (at) googlemail.com) on Sun Aug 29th, 2010 at 01:57:28 PM EST
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The economists pushing NCE don't care if it works any more than do those for whom they work -- and most of the politicians work for the same people.

As the Dutch said while fighting the Spanish: "It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Sun Aug 29th, 2010 at 02:33:52 PM EST
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