Skip to comments.Obama’s Economic Advisor “still doesn’t understand exactly why it was so bad”
Posted on 09/02/2010 7:08:15 PM PDT by agee
Today, Christina Romer, chairman of President Obamas Council of Economic Advisers, gave her farewell speech before returning to Berkley to teach. In that speech we learn that she still doesnt understand exactly why it was so bad. Its good that Romer is returning to academia because she wouldnt be hired in the private sector. In places where people actually have to create wealth, results matter. Romer helped develop a policy where unemployment reached nearly 10% and her excuse was almost all analysts were surprised by the violent reaction. This is an example of the Obama team that was billed as the best and brightest
The speechs lack any sort of reflection on why the horrible economic results was striking, and underscores 2 story lines;
As an adviser, her dumbfounded response makes clear that she was out of her depth in the real world. Economist from the Austrian School of economic theory seemed to be able to predict what would happen and understand the mechanisms that contribute to the actual results seen today. Therefore her plea that almost all analysts were surprised by the violent reaction. rings hollow. The end result of the speech is that we can say with utter certainty that Romer was wholly unqualified for the position for which she was chosen. . . .
(Excerpt) Read more at foundingideals.com ...
It’s all just so..., well...., UNEXPECTED!
She must never have read “The Road to Serfdom”.
Like all Obama cabinet members — grossly incompetent back-alley Marxists. Useless to the REAL America.
There are a few who understand what happened and correctly pointed to the outcomes that we saw. They should be brought in to give advice.
The people who were wrong should be disposed of in some manner ~ we don't want a chance any of them will be back. We don't even want them able to write books. These ideas have to be eliminated.
You ain’t lecturing in the classroom anymore, are you Sweetie?
She’s not really an airhead - she’s about as sharp as economists get. That’s the problem.
Cluelessness does seem to be a hallmark of the Øbongo regime - along with an overabundance of arrogance.
Those poor Berkley students! One would think they would demand smarter professors!
That isn’t true. There are many smart economists, she isn’t one of them. She was a political hack like Krugman and Summers.
What do you call it when academic success isn’t correlated w/real-world success? Inverse correlation? Negative something?
Perfect misinformation. Quite valuable in the right hands.
but the government class likes to use economists from the Keynesian school of economics because it gives them an academic reason for spending gobs of money they don't have.
This is simple math that even an affirmative action product like Romer and her boss should be able to understand: Since the `Recovery Act’ the private sector has lost 2,554,000 jobs; federal government employees, on the other hand, have increased by 416,000 jobs.
And with new `czars’ popping up like whack-a-moles, and the layers of deputy commissars, interns, secretaries, etc. necessary to accomplish nothing worthwhile, except to provide these political hacks with great wages, benefits and pensions, like the Flinstone Kids they’re still growing.
She doesn’t know why her offerings didn’t work?
They knew damned well they would not work. They want the whole nation dependent on the federal goverment, and the way to do that is to ruin the economy. This was done on purpose to bring destruction of America’s middle class, and make them into subservient paupers looking for goverment handouts.
Give her this, she was smart enough to bail before the shite hits the fan. The rest are not smart enough to see whats coming.America is awakening, and the hearts of patriots are standing to.
We will banish these fascists, and that they are. Its not a tin hat conclusion, but one of careful historical analysis.
Those who can’t do, teach. Perfect qualifications for an institute of higher learning such as Berkeley.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.