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Friday, November 28, 2008

Club members in good standing

I am not alone in voicing some misgivings about the President-elect's choices of economic advisors.

Comments (8)

You are in good company there. Greider is top-notch. It would be good if all the poo-bahs who have swallowed Tom Friedman's panegyric odes to globalization read Greider's "One World, Ready or Not: The manic logic of global capitalism."

Is it a case of 'meet the new boss, same as the old boss'?

Obama claims they needed prior administrative experience to implement his vision. Others claim the experience/ego factor is a lot to reign in. Time will tell.

I would expect (and hope) that Obama and his team did a thorough vetting process to make sure these appointees were loyal Dems versus loyal CLINTON Dems. That could make all the difference in how well he can keep them in line, especially if any of Hillary's sense of entitlement for the Presidency rubbed off on her husband's executives.

Yes, but who does Greider think Obama should have appointed? Joseph Stiglitz and who else?

The Whalen piece The Nation article links has this money line: At some point, Washington is going to be forced to accept that bankruptcy and liquidation, the harsh medicine used with other financial insolvencies, are the best ways to deal with the last, greatest bubble, namely the CDS market. When the end comes, it will effect some of the largest financial institutions in the world, chief among them Citigroup (NYSE:C), JPMorganChase (NYSE:JPM), GS and MS, as well as some large Euroland banks.

Somebody else thinks it would be best for these large banks to go into bankcruptcy ASAP.

I came under fire from plenty of acquaintances when I mentioned that Friedman's bestseller THE WORLD IS FLAT made me angry and that I found its sentiments, "nauseating."

It's good to be vindicated.

"THE WORLD IS FLAT made me angry and that I found its sentiments, "nauseating.""

Having read the book, it is a bit-highflown, however, most of his points are accurate. Did you have something specific that made you sick?

One of his points was about creative-class jobs. These jobs are collaborative thanks to the Internet. This means no co-workers have to even be in the same city as another. Something to think about when Mr Adams gins up excuses for spending money creating creative-class jobs.

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