Syria is not as important as the choice of the next chief of the Federal Reserve ... by gimleteye 2013

View previous topic View next topic Go down

Syria is not as important as the choice of the next chief of the Federal Reserve ... by gimleteye 2013

Post by Admin on Sun Sep 15, 2013 5:56 am

2013 2013 2013 <div dir="ltr" style="text-align: left;" trbidi="on">With Syria, President Obama will have succeeded -- whether Congress votes to approve a limited engagement this week, or not -- in pointing out the limits of American power in an increasingly small and dangerous world. These limits will be tested again by our adversaries. Having spent a few trillion dollars on wars without clear or achievable objectives, on Syria the American taxpayer and voter is the ultimate decider.<br><br>Moving the domestic economy is a much more complicated matter than the tangled, tragic Mideast. There are no obvious signals -- like the Assad regime chemical gas attacks on its own citizens -- as signposts for public consideration. The operations of the economy, through the US Treasury and Federal Reserve, are opaque. <br><br>It is an interesting contrast: the highly visible and stomach churning Youtube clips of gassed children and adults in Syria and the cloaked, mysterious interplay between the high chief of finance -- the head of the Federal Reserve -- and the high chiefs of Wall Street. <br><br>The loss of confidence by Americans in government and public institutions is arguably a bigger and more present danger than the murderous Assad regime or the Al Qaeda infiltration of rebel ranks. Along this line, with his choice of the next chief of the Federal Reserve, President Obama has a better opportunity to distance his administration and legacy from the emergence of bad policies and even disinformation campaigns waged by recent administrations, on the economy.<br><br>That's why the choice of a new federal reserve chief by President Obama is as momentous as the decision whether or not to drop bombs on Syria. Obama -- it is thought -- is leaning toward Larry Summers, a key member of group of advisors who Obama leaned on heavily, from the first days of his administration, as the White House struggled to contain the worst economic emergency since the Great Depression. But Summers is also associated with the origins, along with other hold-overs from earlier administrations. <br><br>With the Syria mess, President Obama can plausibly claim -- even if Congress repels a vote to unleash the bombs -- he has pinned the onus on Congress for any future transgressions of chemical attacks. With a choice of Summers instead of vice chair Janet Yellen, President Obama would be making his own irretrievable error. Conservatives and liberals alike would blame President Obama for a Federal Reserve chief who cannot plausibly distance himself or herself from so much economic carnage.<br><br><br>Peter S. Goodman, Executive Business Editor, The Huffington Post<br>GET UPDATES FROM PETER S. GOODMAN<br><br>Larry Summers Is An Unrepentant Bully<br>Posted: 07/25/2013 12:44 pm<br><br>In the fall of 2008 -- just after many of the nation's largest financial institutions teetered toward collapse, prompting the government to unleash a taxpayer-financed rescue -- I called Larry Summers at his Harvard office to ask him whether he had any regrets.<br><br>Specifically, I wanted to know how Summers had come to view his actions as Treasury secretary in the Clinton administration, where he had joined then-Federal Reserve Chairman Alan Greenspan to dismantle the government's authority to regulate trading in derivatives -- the very financial instruments then playing a central role in the crisis.<br><br>Summers immediately took charge, barking that we were off the record -- a directive that I rejected, prompting him to raise his voice. He accused me of conducting a &quot;jihad&quot; aimed at unfairly implicating him as a cause of the financial crisis.<br></div><a href="http://eyeonmiami.blogspot.com/2013/09/syria-is-not-as-important-as-choice-of.html#more">Read more »</a><br> 2013 2013 2013 <br><div dir="ltr" style="text-align: left;" trbidi="on">With Syria, President Obama will have succeeded -- whether Congress votes to approve a limited engagement this week, or not -- in pointing out the limits of American power in an increasingly small and dangerous world. These limits will be tested again by our adversaries. Having spent a few trillion dollars on wars without clear or achievable objectives, on Syria the American taxpayer and voter is the ultimate decider.<br><br>Moving the domestic economy is a much more complicated matter than the tangled, tragic Mideast. There are no obvious signals -- like the Assad regime chemical gas attacks on its own citizens -- as signposts for public consideration. The operations of the economy, through the US Treasury and Federal Reserve, are opaque. <br><br>It is an interesting contrast: the highly visible and stomach churning Youtube clips of gassed children and adults in Syria and the cloaked, mysterious interplay between the high chief of finance -- the head of the Federal Reserve -- and the high chiefs of Wall Street. <br><br>The loss of confidence by Americans in government and public institutions is arguably a bigger and more present danger than the murderous Assad regime or the Al Qaeda infiltration of rebel ranks. Along this line, with his choice of the next chief of the Federal Reserve, President Obama has a better opportunity to distance his administration and legacy from the emergence of bad policies and even disinformation campaigns waged by recent administrations, on the economy.<br><br>That's why the choice of a new federal reserve chief by President Obama is as momentous as the decision whether or not to drop bombs on Syria. Obama -- it is thought -- is leaning toward Larry Summers, a key member of group of advisors who Obama leaned on heavily, from the first days of his administration, as the White House struggled to contain the worst economic emergency since the Great Depression. But Summers is also associated with the origins, along with other hold-overs from earlier administrations. <br><br>With the Syria mess, President Obama can plausibly claim -- even if Congress repels a vote to unleash the bombs -- he has pinned the onus on Congress for any future transgressions of chemical attacks. With a choice of Summers instead of vice chair Janet Yellen, President Obama would be making his own irretrievable error. Conservatives and liberals alike would blame President Obama for a Federal Reserve chief who cannot plausibly distance himself or herself from so much economic carnage.<br><br><br>Peter S. Goodman, Executive Business Editor, The Huffington Post<br>GET UPDATES FROM PETER S. GOODMAN<br><br>Larry Summers Is An Unrepentant Bully<br>Posted: 07/25/2013 12:44 pm<br><br>In the fall of 2008 -- just after many of the nation's largest financial institutions teetered toward collapse, prompting the government to unleash a taxpayer-financed rescue -- I called Larry Summers at his Harvard office to ask him whether he had any regrets.<br><br>Specifically, I wanted to know how Summers had come to view his actions as Treasury secretary in the Clinton administration, where he had joined then-Federal Reserve Chairman Alan Greenspan to dismantle the government's authority to regulate trading in derivatives -- the very financial instruments then playing a central role in the crisis.<br><br>Summers immediately took charge, barking that we were off the record -- a directive that I rejected, prompting him to raise his voice. He accused me of conducting a &quot;jihad&quot; aimed at unfairly implicating him as a cause of the financial crisis.<br></div><a href="http://eyeonmiami.blogspot.com/2013/09/syria-is-not-as-important-as-choice-of.html#more">Read more »</a><br>2013 2013 2013 <br> <a href="http://www.matrixar.com/" title="Matrix ">المصفوفة : أجمل الخلفيات والصور</a>

Admin
Admin

Posts : 64122
Join date : 2013-02-22

View user profile http://prowebsites1.forumaroc.net

Back to top Go down

View previous topic View next topic Back to top

- Similar topics

 
Permissions in this forum:
You cannot reply to topics in this forum