Liberals will never fix the economy. Christina Romer will never fix the economy. It's impossible. She's a MIT-Princeton-Berkeley liberal...those people can't run a Burger King. She's an academic who has never run a business or created a job in her life. Eggheaded with no street smarts, she doesn't understand how things operate in the "real" world. Perfect complement to Obama's team of bureaucrats and academics who have lived their lives in an institutional bubble.
Council of Economic Advisers chief Christina Romer said it's devastating that some workers have been unemployed for two years and that job losses were continuing nearly a year after passage of the so-called stimulus bill.
A top White House economic adviser said Sunday "you'll get no argument from" her on the need to improve the miserable jobs picture.
Council of Economic Advisers chief Christina Romer said it's devastating that some workers have been unemployed for two years and that job losses were continuing nearly a year after passage of the so-called stimulus bill.
The jobless rate remained at 10 percent in December as 660,000 people said they had left the workforce. But Romer couched the news by saying the siphoning of jobs from the market has slowed.
"In the first quarter of 2009, when we first came in, we were losing on average 691,000 jobs per month. With these new numbers in the fourth quarter, we were losing 69,000 jobs," she said. "It's still terrible. We're still losing jobs, and we absolutely have to go from losing any jobs at all to adding them at a robust rate." READ MORE...
See VIDEO below- Ratigan Grills Propaganda Queen Christina Romer, Demands Windfall Profit Tax Clarity, Gets Blank Stare Response
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Ratigan cuts to the chase, bypassing the hollow rhetoric by Administration propaganda queen Christina Romer, who can't beat enough drums on today's pathologically ludicrous BLS numbers, yet is completely unwilling to discuss how the White House will proceed to recoup any of the taxpayer-subsidized windfalls at Wall Street firms. Any considerations of windfall tax, be they in the form of a Tobin tax, now openly supported by such people as Warren Buffett and John Bogle, or directly imposed, seems to not be on the White House's agenda currently or any time in the future. How is it so difficult for Obama to understand that Main Street is demanding some quid-pro-quo of firms like Goldman, whose employees are covertly purchasing Ferraris even as excess bank reserves hit another all time record yesterday, and instead of lending money out the banks continue to collect a risk-free 0.25% on these excess reserves, thereby once again picking taxpayers' pockets.
Yes, we all know they need the cash as they are well aware their balance sheets are in much more deplorable conditions than loose FASB regulations force them to disclose. However, the animosity is growing, and more and more the anger directed at Wall Street is becoming anchored at Obama and his Robert Rubin (i.e., Goldman Sachs) cronies, who despite their assumed ideological adherence, are seeminly much more pro-Wall Street than even previous Republican administrations. This will be a heated issue for the President, especially once details of individual Wall Street record bonuses become all too public.
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