On Valiantly Rejecting Monocausal Explanations for a Bad Economy
CNBC's John Carney suggests Timothy Geithner will be fired soon because "the economy is bad":
We're starting a Tim Geithner death watch.
That sounds a bit morbid. So let's be clear. We do not think President Barack Obama will murder Tim Geithner following the devastation of his party in the midterm elections. He'll just toss the guy out of the Treasury Department
There will be heavy pressure from within the Democratic party for the Obama administration to make changes that will both publicly mark a change of direction for the administration and privately send a message to party insiders that the White House is accepting its share of the blame for the loss of the House of Representatives.
Geithner is a clear candidate to play the fall-guy. In exit polls, six in 10 voters said the economy is the nation's No.1 problem. Around four in 10 believe their family's financial condition got worse since Obama took office. Geithner is the nation's chief economic official. A large share of the blame for last night's results will likely fall on him.
Frankly, these kind of stories make me wish the MSM would be blamed for something and collectively murdered.
Thursday, November 4, 2010 at 10:19AM | tagged
economics,
elections,
media in
General Principles |
Post a Comment | 









