Thursday, October 28, 2010

Climateer Line of the Day: Damn Arrogant Economist With Faint Praise Edition

Today's Winner is President Obama:
Lawrence H. Summers, the chief architect of the Obama administration’s economic policies who is leaving the White House, received an accidental back-handed compliment from his boss.
Appearing on “The Daily Show with John Stewart” on Wednesday night, President Obama said,
“In fairness, Larry Summers did a heck of a job in trying to figure out how to …”
“You don’t want to use that phrase, dude,” Mr. Stewart interjected.
“Pun intended!” the president responded to laughter....
-Via DealBook 

For anyone interested in understanding the root causes of the mess the economy is in I can't recommend Frontline's "The Warning" highly enough. Here's our post:

Oct. 21, 2009 
Frontline's "The Warning": Now Taking Prop Bets on When Obama Fires Larry Summers' Ass
The guy is not just arrogant. He was way, way wrong. Summers will be leaving the administration to "persue other interests" Here's the  video...
Oct. 22, 2009
What Is Political Capitalism?
...I was looking for a quote to answer a gentleman who really disliked my posting the video in yesterday's post "Frontline's "The Warning": Now Taking Prop Bets on When Obama Fires Larry Summers' Ass".

The point is the unholy alliance between big business and government which has basically perverted the founders view of representative democracy.

The sixteen years of the Clinton and Bush administrations institutionalized this fascist version of government to an extent that is truly amazing. 
Sept. 21, 2010 
Breaking: "Summers Expected to Leave White House After Election" (and some thoughts on arrogance)

I usually don't have much time for Gluskin Sheff's David Rosenberg. His pig-headed refusal to listen to the market as the averages advanced more than 70% was not only arrogant but expensive for his firm's clients.

I can handle arrogant as long as you're right, hell I can tolerate a fat guy in a grass skirt and spike heel Manolo Blahniks if he's right.
It would be fun to watch him tottering around.
But Mr. Rosenberg hasn't been right for a while and he's not funny.

Funny is important if you're doing the Angel of Death schtick. Here's our thinking ...
Now I'm probably a mental midget* compared to the former Harvard president but I know how to treat people right....

...*Maybe not:

How Larry Summers lost Harvard $1.8 billion
I've never lost $1.8 bil. in my life.
[never had it either -ed]