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And Then There Were Two: Rumor Romer Resigning From Obama Economic Think Tank
First Orszag, now Romer? If the latest rumor about the imminent defection of one of the three remaining policy stalwarts is true, it means the administration's economic policy is on the verge of collapse. Hotline Oncall reports: "Christina Romer, chairwoman of Pres. Obama's Council of Economic Advisers, has decided to resign, according to a source familiar with her plans. Romer, an economics professor at the University of California (Berkeley) before taking the key admin post, did not respond to repeated calls to her office." The sad reality is that Romer's (who has largely been a mere figurehead and staffed to provide soundbites to CNBCs how every worsening NFP report is in reality a dramatic improvement, a job which even Steve Liesman can do with a passing grade) departure will only make the remaining two people in Obama's economic circle, Tim Geithner and Larry Summers, even more powerful. Why couldn't those two leave? Surely both have by now earned their $2.5 million a year job at Goldman... We now anticipate the 8-K from Whitehouse Corp announcing the appointment of Paul Krugman and Mark Zandi to fill the newly vacant positions.
More from Hotline Oncall:
"She has been frustrated," a source with insight into the WH economics team said. "She doesn't feel that she has a direct line to the president. She would be giving different advice than Larry Summers [director of the National Economic Council], who does have a direct line to the president."
"She is ostensibly the chief economic adviser, but she doesn't seem to be playing that role," the source said. The WH has been pounded for its faulty forecast that unemployment would not top 8% after its economic stimulus proposal passed.
Instead, the jobless rate is 9.5%, after exceeding 10% last year. It was "a horribly inaccurate forecast," said Bert Ely, a banking consultant. "You have to wonder why Summers isn't the one that should be taking the fall. But Larry is a pretty good bureaucratic infighter."
h/t Peter
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Bitch is fat. Probably ran afoul of the First Lady's anti obesity crusade.
The Chosen get a pass. After all Barry is a smoker and that is evil, ask most any liberal. But all is forgiven when you have power. Look at Larry, he is Jabba like.
smoker? everyone in MSM insists that he quit. guess those sly newports in the rose garden don't count. betya he's gettin em from the reservation (no tax).
Let's not forget about the blunts stuffed with the good government stuff.
Her and her husband wrote some great papers at the NBER. Then she joined Obama for the glory and sounded like a blubbering fool on television. I think she's sick of the dishonest front she is having to present. Then again, integrity and the White House never really did go together.
agreed, 'starve the beast' was pretty damn insightful. and yes, conscience is a bitch that doesn't quite go away, unless you are either completely sociopathic or wiped out on meds (perscriptions at taxpayer expense of course).
++++++++++
While often speaking the party line had seemed uncomfortable and at times, Dr. Freud hisself had clearly indicated gross discomfort in positions with which she was not intellectually comfortable. Good on her.
BTW, is Larry the Hut passing gas in that photo? Hesus Kreistos, one would think that somebody in a position of responsibility for PR would have trashed the damned thing. Dr. Freud says it speaks official volumes, unrepentant, shallow and in poor taste.
@johngaltfla
Sorry to call you out on a triviality but John Galt would have actually used proper English.
Would you say "her wrote a paper"?
Again, sorry, pet peeve...
Agreed, she done good work in the past ... but running a PR campaign and mouthing the 'talking points' isn't something she reckoned with.
I always got the sense that she wanted to speak her opinion frankly but couldn't.
That could be just me.
Fucking hilarious.
Fucking hilarious.
Mrs Puff! (Oh noes!) Probably found a better position at the Krusty Krab.
ran afat
Ned to First Lady: "Ever hear that one about stones and glass houses?"
Larry looks pissed, must have taken his donuts and diet coke away.
I can only pray Krugman joins up. I want that guy in position when this thing burns, that guy pisses me off like few can. He is either 100% insane or a liar...I'm going with insane,but admit I could be wrong.
Wanna make Krugman live in a mud hut?
I have a feeling the rats are leaving the sinking ship, off to their hideouts in Peru and Argentina!
I want Krugman to admit he is a hack. I want him to stop poisoning young minds. I don't care how he lives, I just want him to stop the damage he causes.
+++
He does it for his purpose.
Simply, he is a fascist, in my opinion, cloaked as a liberal.
No real liberal would ever advocate handing over so much authority/power from the people to the state.
'Liberals' are just dummies who think they're really not commies.
I want to see Krugman caught live on television on one of MSNBC's "To Catch a Predator" specials.
You might enjoy this:
http://www.americanthinker.com/2010/08/paul_krugman_gives_up_1.html
Great article! The Chosen are getting outted all over the place. Even their vaunted Nobel prizes mean absolutely nothing. Israel-firster crooks.
Liar. Notice that he points to his nose every time he does it. And he tells you too! He says it is an old Princeton Prof thing! This is a must watch for anyone, because it tells you their game plan in detail. They have a ridiculous plan I have titled it, "The Rise of Firms". The quote "What was old is new again" is chanted like a death rattle. I will say though that even though a liar, I think of him as naive and dull minded, and thus stupid. PS, he needed both of his hands? Use a mic, Kkkrugs, you look like a nerdy rock star with the head set.
"The Rise of Firms":
http://nobelprize.org/mediaplayer/index.php?id=1072
He is the perfect governing combo deal: Both.
He is pissed because he was awakened from his nap time.
I see your Krugman offering, and I raise you a Stiglitz! (http://bit.ly/8XOhVs). Fold yet?
What, not shitimuled enough?
Larry's gone after midterms and rumor has it that Geithner will be leaving in 2011..Good news!!!
Smart, very smart: to get out before the GOP takes over the House and starts endless investigations and hearings and vocal committees of disbelief. The new buzz-quiz? Been subpeonaed?
ROTFLOL
Investigations, hearings?!?! This is politics, remember you give a free pass to the criminals you replace so the criminals after you will give you a pass. It's in the rules somewhere. I remmber talk about investigations into Bush and Barry ran against Bush...yeah a lot came of that. Getting out early is more to get your position early at GS and Pals.
Position? For his handling of the AIG fiasco, I'm sure The Squid has arranged that Timmay will never have to work again... at least for money. lol
Right on....
Just look what happened to Neil Kashandcarryon....from Treasury dolor of Infinite and Unaccounted for Wealth to plumb job at PimpCO. Speaks volumes of the anointed and well connected.
You lick my nuts, I scratch yours.
Art Laffer is available. Jude Wanniski has unfortunately passed away.
The great Jude Wanniski. He knew the way the world works.
What about the midget, Robert Reich?
Isn't Rahmbo jumping off the Titanic, too?
Yeah, both those iceholes should make aliyah (getaway with assets) immediately.
<insert rampant inappropriate angry, emotionally charged comments about Summers and Geithner here>
<insert appropriate number of plusses here>
She shoulda' known Obama knows everything and she is just a student. Larry and Timmy are court jesters and head nodders. They are all failing. Expect more rats jumping from the the Team Obama ship.
Safest job in the WH is to be a czar. They were never hired to be listened to in the first place and they know it.
Obama took the brown paper bag from Hank in the fall of 08 and the script was written.
The play is called " The American People can go fuck themselves".
The country has cancer at the top, and major surgery is the only option.
Kayman wrote: The country has cancer at the top, and major surgery is the only option.
I think the country is beyond surgery. We should be looking for a cemetery plot and a headstone.
Great 'tude!
So giving up works for you?
Please stay away from me.
I find you to be deplorable and despicable.
When the tough get going...
All IS NOT LOST. To resign to the Leftist meme is an act of sedition.
Their reign is as tenuous as we decide for it to be.
"Bring me the head of Alfredo Garcia." <from the film by the same name>
Nothin' like government work to get the revolt goin'.
Did you ever notice that Romer looks like Bill "the big tuna" Parcells in drag?
Romer = Big Tuna in Drag
That has a bad smell to it
I always thought Tim looked like Lindsey Buckingham...
You said that you love meAnd that you always will
Oh you begged me to keep you
In that house on the hill
Looking out for love
Big, big love
I wake up alone
With it all
I wake up
But only to fall...
eraserhead
Now that's cruel.
So true. Both the Eraserhead comment and Lindsay Buckingham. Have thought it but failed to articulate it.
http://foscolives.blogspot.com/2009/03/eraserhead-2-geithnering.html
side by side.
"I always thought Tim looked like Lindsey Buckingham..."
God, what did Lindsey Buckingham ever do to you?
Looks more like Beavis...or was it Butthead?
Some cartoon character for sure. Wasn't Ren or Stimpy, maybe one of those South Park kids?
Will there be time to appoint replacements? The Federal Government's Ponzi-ness weighs heavy on the masses.
"She has been frustrated," a source with insight into the WH economics team said. "She doesn't feel that she has a direct line to the president."
Maybe, I could believe that. I think she probably saw what was really in the sausage (can I say that?) and like anyone whose seen what goes into sausage (god this sounds bad) will never look at sausage (ok I'm cracking myself up now) the same way.
I bet she spent too many meetings listenening to Larry Summers talk about manipulating DOW and S&P Futures and decided she'd leave.
Man Larry Summers looks evil to me, doesn't he? He just oozes evil....
Dark Math
So, are you trying to say Barry, like Clinton, was playing "hide the sausage" ?
You'd have to roll her in flour just to find the wet spot.
So what do we do? Who could possibly replace these masters?. Better buy more gold and trust in the true master that is to come-soon! It's gonna get ugly. Hang on!!
Summers looks like he's ripping a juicy one in this picture.
Fat Larry looks like he just had a couple of highballs and sat on Lill' Timmay's darts...
Tyler..
time for a pole.
are you in the market.
10%
20%
50%
or are you in cash?
Okay, how about Lech Walesa?
Bada bump. I'm here all week. Try the veal.
as the % of your funds.......
cash
stocks.
gold...
money funds
fed paper.
I never saw a zero hedge holding pole....it would kick the shit out of ADP
Learn to spell "poll."
Idiot.
I will give you this.....as as spell in $$$$
If you give Zero $1000.00 I will match it.
paladin
The only pole I find interesting is mine, after a bottle of Cialis.
If you run up a flag does anyone salute?
you mean a nice & easy way to telegraph everyone's positions so they can be frontran & stopped out? what a genius idea...ok, i'll play...this is fun!
40% heirlooms
40% perennials
20% edible 'weeds'
frontrun that bub
...it means the administration's economic policy is on the verge of collapse.
On the verge? You mean, this isn't the actual freaking collapse?
(Reaches for the long-hidden bottle of highland single-malt...)
"Fliyvyn! Ehhh..." As your avatar would dubiously say.
LMAO!!! "The missiles we are going to use were confiscated from the Nixon administration for reasons we won't go into here.... or today... fliyvyn!!" LOL!
First day one the job...?
Timmy and Larry = Zed and pawn shop owner
Krugman and Zandi = Butch and Marsellus
Alternate ending where love blossoms...?
OR
Just a case of Naomi being inconvenienced...?
Coming to a screen near you...after pre screening for maximum profit potential aka monkey mind polishing feed back.
*snort*chuckle*!
I was watching Pulp Fiction on AMC last night with the missus, though she's only interested in watching Vincent.
I guess that Orszag and Romer would be the current Butch and Marsellus seeing as how they are getting out of the pawnshop basement.
Let's go one up on Krugman. I want Richard Koo.
Look at Summers in that photo.
He's sitting all sideways and cockeyed like he's enduring an epic bout of hemorrhoidal hell.
lesson #246 of how body language can unveil character
Apparently, she is a human being. Shoveling big helpings of shit to the public after every press release probably does get old. A professor who wound up as a PR spokeswoman... I understand why she (will) quit.
I have long held the belief that the Ivy league shares some of the blame for our economic malaise: keepers of the corporate glass ceiling, enablers of crony capitalism...
the Ivy league shares some of the blame for our economic malaise
Ayn Rand says in this late 1970s interview that universities are destroying America by teaching the philosophy of Immanuel Kant. Certainly sounds odd at first but the following clip is well worth watching, whether you appreciate Objectivism or not.
Ayn Rand Defending Capitalism and Forecasting Economic Ruin of Collectivismhttp://www.youtube.com/watch?v=NMyEgVevCYU
"the Ivy league shares some of the blame for our economic malaise"
"that universities are destroying America by teaching the philosophy of Immanuel Kant."
At the intersection of John Maynard Keynes Ave. & Woodrow Wilson Blvd. you will find what you seek.
It is eugenics.
Now, if I can just get you to quit hatin on Virginians ;-)
Ya gotta love virgins, 'course then they ain't no more.
It's beyond just Kant. It's the whole subjectivist way of thinking.
It's a one-two punch. Here's what they teach you:
1. There is no truth.
2. There is no good or evil.
Use your feelings, then you'll "care enough" that the problems will solve themselves! (Damn, thinkin' is just sooo hard!)
"Hello? Is anybody home?" ROMEr was standing outside the clubhouse with a boxful of "jelly" donuts. BS was sitting on the front porch sipping his Malibu and coke as he listened to "I've Got the World on a String", which is his favorite song.
"ROMEr you have to leave." He said as he stood up. "No girls allowed." Bawknee Fwank came bellowing out of the door at this moment. "No giwths awawd! Nowa giwths awowed!" He said as he waved his fat arms frantically. "I brought donuts." She said with a manic smile. Bawknee stopped jumping up and down. He turned to BS, "Sheth got downuths." "It doesn't matter. No girls allowed."
Inside Timmah played the PPT on the Clubhouses 8 bit Nintendo system that was purchased in '87. He noticed nothing that was going on outside, as he was intimately focused on beating this level; "Algo Machines From Hell". He had entered a dark room he had never seen before. In it he found a code that could destroy the machines and beat the level. He clicked on the item. "Now you have unlocked another round of QE" the game said. "Timmah!"
Outiside, ROMEr was still there, and still smiling. "Well, if you won't let me up, then I quit." "Fine." Said BS matter of factly. He sat back down and sipped his drink. "Then I will have these donuts all to myself with my husband." She stared directly at BS as to call his bluff. BS did not blink. She turned and left, but not before tripping over a large root of the Oak tree. She turned her head back to the Clubhouse, so they knew, she was still smiling.
Have you guys noticed that anyone smiling in this picture has been axed? Coincidence? I think not - if you have a soul you just won't cut it in the game of financial politics.
I think Bert Lance might be available to fill the vacancy.
jeffrey skilling? martin armstrong?
Bert and Ernie?
Anyone know why I can't read the ZeroHedge article form Hatzius?
Looking Beyond Tomorrow's Non-Farm Payroll Number To Spot A Negative Shift In Structural UnemploymentOnly the first paragraph shows up.
/:
Yeah, how's comes we can't sees the article?
Perhaps because RoboTrader needed to post a 778px × 584px picture of a car and a girl in a shiny bikini in his comment and your device is controlled by an alien bikini shield.
It looks like they moved some furniture into an elevator and then took the picture. Unbelievable.
an elevator
And even as they continue to push the "down" button they can't figure out why they are headed for the basement.
Tim Geithner a Rubin hack...and Larry Summers
http://www.pbs.org/wgbh/pages/frontline/warning/view/#morelink
Frunt Line the Warning
nothing to see here....move along....you were told...
I want the Zero Hedge holding pole
The Summer cycle of private, politics, private... should be about to turn. Where Larry will return to the private sector for more economic destruction. Look to the Harvard yearbooks for a peer of Obamao for a replacement. One studied in the "proven in the classroom" economics should serve as place holder in the current administration.
What gives, why is Donald Trump in the photo??
Just fucking promote Robert Rubin to president and be done with it. I hate all this pomp and circumstance. Mystical Barry is merely a front.
What is it Lassie?
Little Timmy is in well?
Looks like Little Timmy is next.
What is with all the brown suits? The color of shit. Makes sense to me.
Comfirmed:
"Christina Romer announces she will step down as chair of the Council of Economic Advisers, effective Sept. 3, to resume her position as professor of economics at the University of California, Berkeley."
http://link.email.washingtonpost.com/r/8VXTM7/YHTPGD/EE3HQ7/RVDX7N/P6P4F/GX/t
And the former host of Romper Room is back in her Berkeley world:
WASHINGTON (AP) - The White House says that key economic adviser Christina Romer is resigning her position to return to academia.
Romer is the head of President Barack Obama's Council of Economic Advisers. Her resignation will take effect Sept. 3.
Romer plans to return to the University of California, Berkeley as a professor of economics.
In a statement, Obama said Romer provided "extraordinary service to me and our country" in a time of economic crisis.
And the former host of Romper Room is back in her Berkeley world:
Be careful, she can see you in her magic mirror. Be a Do-Bee not a Don't-Bee.
http://www.youtube.com/watch?v=td1KAgrYUGA
Thank you for actually watching the vid...yes, I could only think of Romper Room whenever I watched her go on and on... and lie after lie..
I guess even she is coming to know that all her clout is gone with the free loader entitlement remora skum.
summers and geithner, Aaaagh. Goofus and Boofus
What the f*** is a Romper Room?....
canadian childrens tv show.
Thanks!
It's amazing what one might learn here at ZH........
Old folks such as myself can recall watching it in the early 60's on TV.
We had it in the US in the 50s. I still remember Miss Betty with fondness.
Romper Room was a 1960s and early 1970s childrens' show syndicated throughout the US (and I guess Canada, too). Each television market had it's own local version. The hostess was Miss (Fill in a name depending on the market and year). Kids played, marched around standing on cans which had ropes strung through them to be held tautly in the kiddies hands, there was a segment with drawings sent in by viewers (I had one on the show), Miss (Blank) would "look" at the audience through her magic mirror at the end of the show and call the home viewers by name (I see Tommy and Janie and Sue..). The message of the show was to be a "Do-Bee" (good kid) and not a "Don't-Bee" (little brat).
I recall one of the Pittsburgh area hostesses committing suicide around 1970 or so. Guess she was a Don't-Bee.
Romper Stompers...
Yes!
The Walrus wasn't Paul.
Your comment and the prior, "You'd have to roll her in flour just to find the wet spot" were the two finalists for best Romer insult.
But you win. Congratulations...
DOUCHE BAG SURVIVOR
http://williambanzai7.blogspot.com/2010/08/douchebag-survivor.html
Lest we forget...the Romer-Bernstein Unemployment Chart used to gouge out future productivity...peak to trough?
http://michaelscomments.files.wordpress.com/2009/11/stimulus-vs-unemploy...
Back to tenured academia to sort it all out instead of merit based retention. Who woulda thunk it...sarcastic sigh.
Orszag impregnates and engages decent women and dumps them for Asian newscasters.
Romer just plain dumps…aka as “Taking the Cleveland Browns to the Super Bowl.”
Orszag is real-world stupid/Ivy League smart.
Romer is bovine stupid.
The point is, Orszag makes Romer look relatively good; (think Lebron & Kobe).
Guess Romer's new position in academia is ANOTHER NEW JOB SAVED BY THE STIMULUS. Great news imo
Tim Geithner could have done Goebbels job in Nazi Germany, if Goebbles had told him what to think and say...
Why would anyone one want to leave in the middle of "Recovery Summer"? Surely all the accolades for such an accomplishment are just around the corner. Right? ... right?
Think Tank? Not Much Thinkin' Going' On There
The last two aren't going anywhere... nobody would hire them...
Oh fuck.
Krugman.
Can't some of you people Please stop with these end of the world prognostications.
Please.
It's disturbing.
I see it now. About 3 am, I dream I'm awake and Krugman and Summers are chasing me around the bed, screaming "You saw it here first on MSCNBS. Grab your ankles and kiss your ass goodbye. You're all ours, Kunkles. Ours! Bend over!"
Then I wake up screaming, huddled behind the dirty clothes hamper, sweating profusely, shaking uncontrollably, bruises all over my body, rear end mysteriously sore, paranoia overwhelms me in waves, freezing cold, and WHAM the closet door bursts open, and out rush Larry and the Krugman, red eyes fluorescing it the dark, claws growing large, fangs dripping blood, matted hair, splotchy with flames screaming....
Please stop with the negative vibes.
http://www.youtube.com/watch?v=YwTGGHaCHAE
Since Timmy is a "how high do you want me to jump" simpleton, it appears Larry will be the lone economic mastermind helping Bennie Mae drive Spaceship USA into the massive black hole.
The good news is that we'll all forget about the awful job Larry did at Harvard.
Larry Sommers. The perfect picture of an apparatchik of one.
100!!
Welcome to being on the inside looking out and realizing that the view is far different than imagined on the outside looking in.
The Playboy money must have been too good to pass up.
http://www.youtube.com/watch?v=RGR4SFOimlk
this pretty much sums up who we are dealing with as far as administration and krugman being on the top list there
http://www.wga.hu/frames-e.html?/html/u/uccello/5miracle/miracle4.html
this is also interesting
http://www.youtube.com/watch?v=CGjNHkI2AME
this one sums up the market/news/politicians/what-who-ever: its buy futures, sell futures, when there is no future....its a little late into the game to buy out now....
Romer never mattered to begin with. Timmah is Wall Street's bitch, so he stays until he decides he's ready to make some real money, and his handlers decide they have everything they need, or an even better monkey wants the job. Obama has no say in that decision, since he surrendered control over that aspect of his Presidency before he ever took office.
Interesting SP500 chart ...
http://stockmarket618.wordpress.com
Overlay the S&P on top of this chart to get a glimpse of the future:
http://www.consumerindexes.com/commentary_2010_dailygrowthindexvsgdp_ful...
The picture is interesting.
Romer is holding the paper, maybe she was still trying to memorize Barry's "talkin' points".
Larry is reaching into his pocket for something, maybe a cigar left over from the Clinton administration?
Timmy's hands seem to be converging on what- his naughty bits?
Orszag is thinking what?.... betcha can't remember how to spell my last name! (I couldn't).
There are certainly a lot of details like that to take into consideration.I read and understand the entire article and I really enjoyed it to be honest.
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