Thursday, April 19, 2012

Romney chooses Greg Mankiw as chief economic advisor?!!


This is really incredible. Greg Mankiw. I swear, it's almost getting comical. Anyone who had any hope whatsover that we would see some change (surprise...it didn't happen with Obama) in the sick, misguided, neoliberal fascism that's been gripping us for the past 30 years just got punched in the gut one more time. Greg Mankiw???

Yes, Greg Mankiw...this is Romney's brilliant choice to lead his economic policy?

Mankiw, of course, is the Harvard Professor best known as being George Bush's head of the Council of Economnic Advisors. He's also the economic "genius" who didn't see the financial crisis coming, probably because he pushed the very policies that caused it to happen. Last year a bunch of his more enlightened students walked out of his "Introductory Economics" class in protest to the garbage he was teaching them.

Mankiw is a gung-ho "deregulationist;" a believer that less is more when it comes to financial sector regulation and that ZERO regulation is best. He also apparently thinks that fraud is pretty good too. That's right, he condoned it. Here was an actual Mankiew quote: "It would be irrational for savings and loans [CEOs] not to loot.”

How is it that these guys, who have been wrecking our economy, destroying the incomes of working people and supporting outright ciminality keep coming back, over and over and over again? Mankiw, Summers, Rubin, Greenspan...the merry-go-round continues. That means we have another four years to look forward to of the same, destructive policies.


15 comments:

Ben said...

I'm with you Mike. Mankiw is a moron and should probably be in prison for all the damage he's caused to his econ students and the damage done to the economy from the policies he's promoted.

It's an absolute travesty guys like him keep being rolled out for these high level positions.

Broll The American said...

Another reason not to vote Romney this fall. I've voted for very few Democrats in my life, but recently I see no redeeming qualities in the GOP.

Is there a "None of the above" option?

Chewitup said...

Where is Pat Paulson when you need him?

Anonymous said...

Mankiw also loves making arguments on behalf of the rich. He knows where his bread is buttered - on the upper crust.

Letsgetitdone said...

Romney continuously shows that he is out of touch in every area. How does he spend his time traveling from one to another of his many houses? He probably selected Mankiw because he figured he couldn't go wrong with Harvard, and also because he knows nothing about national economics. Electing him will be worse for the economy than electing Obama. Though electing either one will be a further disaster for the nation.

Matt Franko said...

Who else is he going to get... Lawrence Lindsey? Laffer seems out to lunch lately.

The bench on "Team GOP" is filled exclusively with "taxpayer on the hook" believers and moron monetarists.

Sad days for humanity...

Resp,

paul meli said...

We can only hope it is just 4 more years.

Jonf said...

Joe, neither one of these guys seems to have even a remote understanding of MMT. Hell, I feel like a genius when I hear Obama talk about household debt being the same as the governments. On econ, this is just a toss up. Obama suffers from those twenty plus million sill wondering around. Maybe someone should send him Randy's JG blogs.

Jonf said...

Did I say "wondering"? Oh heck let it be.

dave said...

i find it hard to believe that romney and obama dont get it. the policys they promote work well for a select few.(or any seasoned politician for that matter, such as boner)

Tom Hickey said...

Joe: "Romney continuously shows that he is out of touch in every area. How does he spend his time traveling from one to another of his many houses? He probably selected Mankiw because he figured he couldn't go wrong with Harvard, and also because he knows nothing about national economics. Electing him will be worse for the economy than electing Obama. Though electing either one will be a further disaster for the nation."

As I said in the 08 election. If elected Obama will be a disaster but McCain a catastrophe. Pretty much the same applies now. The Dems are very much in the pocket of the 1% but Romney is the part of the 1%. And with Greg Mankiew as his chief economic advisor or Treasury secretary, it would be a continuation of Bush 43. In addition, Romney will have to throw sufficient red meat to the base to ensure his reelection without a revolt within the party.

Tom Hickey said...

"i find it hard to believe that romney and obama dont get it. the policys they promote work well for a select few.(or any seasoned politician for that matter, such as boner)"

Of course they get it.They just know where the campaign donations come from. The US is not functioning democracy but a de facto oligarchy, as the stats from the past couple of decades go to show.

beowulf said...

Geez, you guys have never heard of the Dushku-Arthur paradox, have you?

Its actually ABOUT Mitt Romney... and Cullen Roche... and the Golden Girls.
You should probably just follow the link.
http://pragcap.com/say-hello-to-your-2012-republican-presidential-candidate/comment-page-1#comment-86602

Anonymous said...

The GOp has been using MMt to finance wars and the military complex for years. They GET it, they simply don't agree they will use the awesome power ofr printing your own money for nothing else that their friends.

This whole thing has always been political in nature, in the USA or in Europe, morons are promoting false ideas, but some 'smart' people knows how it functions very well. They just don't care as long as they can keep most wealth and power for theirshelves.

Matt Franko said...

Maybe after an election victory Romney would give Mankiw the heave-ho like Obama gave James Galbraith the heave-ho.