- Warren Buffet criticizes him in CNBC
- Larry Summer's sounding caution (that's fine. But where is the project of Obama team to put him on Youtube regularly? for 'common' talk?)
- criticism about Tim Geithener - that he has no staff, and more problematically, that he now has lost 'trust' from Wall St.
- Rumor? that Robert Rubin is actually advising Obama team about how to deal with toxic assets? (Stress test and how results would be weighed)
In all this, he sounds, plain. Partially because he is not an expert in economics and fiance - so he can plainly pile up reasons why American economy has arrived to this 'mess'. He knows. He saw. He witnessed some in his life. All those changes and choices, American society 'made'.
And from there, he wants to take America somewhere better. When he says we can't have lasting prosperity based on this boom and bust cycles (and credit based over-consumption, spending, etc) - he sounds like an amateur. Many who actually studied history of economy would simply and casually respond to him that '(speculative) market' is part of the world for centuries and we will never be able to do without it, and yes, this downturn or crush is rather catastrophic but - we will still have similar kind of cyclic situations. This one is bad. We must repair and we try to regulate better and have improved oversight, we will be cautious, but ...
part of him being amateur on economy (and financial market) starting to sound - he is alone. There is no one else around him,
to count up -
why America came to have such (weak or unstable) economy,
list all major reasons, and reflect,
and list 'goals' - and paths, and talk, discuss about which are doable, how long this would that or take, what would be achievable, promise-able - and what would not be. How long and how much pain - and disagreements - it might take to get us there - and where? how far - we can - actually redesign and rebuild America's economy, economic culture, population's understanding of economy?
From his inaugural address, and recent address at Congress, and some fragments of speeches given past few weeks,
he kept his plain view.
There are reasons we are having these problems, in the past etc,
We ought to list them and study them, understand them,
and we must try to get to new ways, different ways.
It's simple. But it adds up. It adds up many many painful memories, why we made mistake, why we weren't smart enough, prudent enough, why we didn't argue enough, why we left many issues so un-dealt with. It adds up.
And talking of, envisioning solutions and path ways to solutions - lists so many problems, issues, obstacles and pitfalls and so on.
Media seems cannot do this, in any way. Even quality medias cannot do this. It's not managing very well. Not enough focus. Not enough 'repetition' - subjects and themes, changes almost bi-weekly. No real, solid, painful but effective - continuous 'work' is done by media.
Experts. Well, they have enough brains and experiences so I hope someone will really work this way - Obama's personal 'plain' way - maybe Elizabeth Warren or Paul Volcker - can do this. But it sounds almost all other experts can talk about these problems in very limited, fragmented and segmented ways.
cf: tomorrow, News and Notes (WNYC, NPR) says it will cover the topic of 'how to achieve long term prosperity (and pull America? and the world? out of 'this boom and bust cycle'). I don't think they will really be able to do such coverage. Depth won't be there. Reach won't be there. Plainness - would be replaced by 'how things are commonly talked, how things are commonly addressed' (in limited sets. Few things together. But not all relevant stuff cumulatively added, jumbled up.)