Politics
Out of context: Reply #10246
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- ukit0
Hmmm let's see if Obama was a socialist or even a left winger on economics wouldn't he might have surrounded himself with economic advisors who have records of that kind?
Instead he chooses Larry Summers, Tim Geitner, Christina Romer and a couple guys, Goolsbee and Furman, from the Chicago School of economics. Chicago School is a free trade oriented, less regulation school of thought, Milton Friedman being the most famous proponent. Here is Naomi Klein, a real leftist, warning about how far to the right's Obama's economic team is sounding all the way back in 2008: http://www.guardian.co.uk/commen…
Summers was Clinton's Treasury Secretary during the 90s and advocated for capital gains tax cuts and liberalizing Wall Street regulations (ironically leading to many of the problems we have now). He is good friends with (and served as deputy secretary to) Robert Rubin, former chairman of Citigroup and other Wall Street types.
Geithner is former head of the NYC Fed and although he has not worked in politics like Summers as far as I can tell not a left winger at all, not even a Democrat in fact. When was the last time you heard of a communist appointing the head of the NY Fed their Treasury Secretary?
The policies (bailout and loans to the auto companies) are simply a response to the horrible economic situation. They may or may not be the right policies but they are hardly examples of communism, a government takeover or even a leftist ideology. The leftist approach would have been to temporarily nationalize the banks as many economists on the center-left (like Paul Krugman and Joseph Stiglitz) were urging, and which Obama and his advisors refused to do.
It would be funny to see how easily fooled people are by the rhetoric out there if it wasn't so sad. Maybe it does point to the downfall of America that people can't tell up from down anymore.
- Now you can watch the rightwing morons on this site claim that they don't know who these people are, but they must be commies.********
- be "commies".********
- These dipshits don't know the difference between Friedman and Keynes, but will argue about it all day********
- You're wasting valuable life ukit********
- Now you can watch the rightwing morons on this site claim that they don't know who these people are, but they must be commies.