10 Responses to Galbraith on Geithner

1. ubetchaiam March 23rd, 2009 at 1:28 pm 1

   Ironic that ScottTrade is a sponsor of the site. And you would have thought they had the expertise to spell Mr.Galbraith’s name correctly.
   BUT it is good he is still providing insight to many; the question I keep coming up without an answer to is why the myriad commenters/economists can’t get any ‘traction’ with the Obama Admin.

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2. Casual Observer March 23rd, 2009 at 1:50 pm 2

   In response to ubetchaiam @ 1

   When Bush displayed such behavior, it was called “stubborness”, “rigidity”, etc. What will we call it if Obama continues to act as if he’s inherited Bush’s Bubble?

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3. ubetchaiam March 23rd, 2009 at 2:00 pm 3

   In response to Casual Observer @ 2

   Stupid. What else could you call it given the enormous political capital he had when he gained office?

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4. ART45 March 23rd, 2009 at 3:02 pm 4

   Many here are comfortable, from what I’ve seen.

   Comfortable folks yak but don’t rebel, I’ve observed.

   If you want to rebel, I’ll join you in the street.

   Otherwise, I’ll buy bottled water, freeze-dried food, and ammunition.

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5. acquarius74 March 23rd, 2009 at 3:33 pm 5

   DIGG IS OPEN – - and recommended.

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6. acquarius74 March 23rd, 2009 at 3:36 pm 6

   Here is my comment at the DIGG.

   oxdown.firedoglake.com — Galbraith on Geithner: All persons who care about knowing the real evaluation of the Geithner Plan for fixing the economy should see this video clip of James K Galbraith giving his clear-eyed, common sense view of the matter. Thank you Casual Observer for this diary.

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7. acquarius74 March 23rd, 2009 at 3:49 pm 7

   In response to ubetchaiam @ 1

   Here’s link to an article in Chicago Tribune Magazine entitled ‘Obamanomics’ that offers a good insight into why ‘our’ realistic economists cannot get any traction with Obama.

   It will infuriate and sicken you, but I think your answer is there.

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8. Casual Observer March 23rd, 2009 at 3:59 pm 8

   In response to acquarius74 @ 7

   Part II is now up at Oxdown.

   Market up Huge today, with financials leading. They know a good thing (for the market–not for the taxpayer) when they see smell it.

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9. acquarius74 March 23rd, 2009 at 4:08 pm 9

   In response to acquarius74 @ 7

   Here’s an excerpt from my link at #7:

   “The new thinking of the Chicago School—and this is clearly reflected in Obama—is transparency and oversight; transparency and oversight as opposed to deregulation.”

   Thaler and legal scholar Cass Sunstein, who is frequently described as Obama’s closest friend on the law faculty, co-wrote a book last year called “Nudge: Improving Decisions About Health, Wealth and Happiness.” In it, they put forth the idea that by shrewdly shaping the context in which individuals make decisions—something they call “choice architecture”—the government can help individuals eat better, plan wisely for their retirements and avoid polarizing arguments on issues as diverse as gay marriage and motorcycle helmet laws. The book and its ideas were quickly embraced by Britain’s Conservative Party as a possible successor doctrine to Thatcherism. (It should be noted that these days Britain’s Conservatives are considerably to the left of their Republican counterparts in the U.S.) Thaler and Sunstein call their approach “libertarian paternalism,” which may explain why the book has attracted less notice here. But that may change. Many of its Chicago School ideas were echoed by Obama during the presidential campaign and could soon become the playbook for his administration’s economic policy. And Obama recently tapped Sunstein to be his regulatory czar, an obscure but potentially influential job.

   Obama’s own views on the market are hardly a mystery.

   “Look, I’m a pro-growth, free-market guy,” he declared on CNBC last June. “I love the market.”

   So, see, we just need to re-structure our understanding and then we can be in the elite school of thought…/s

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10. Casual Observer March 23rd, 2009 at 4:21 pm 10

    In response to acquarius74 @ 9

    For those who said Obama’s appointments didn’t mean much, that he would manage them, and that the silly liberals were just being their “shrill” selves in showing concern, Cass Sunstein is yet another example that appointments–the people staffing these posts–are hugely important.

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