zerohedge.com/article/are-ou … pretending
**Are Our Leaders Really Incompetent … Or Just Pretending? **
Obama’s Economic Incompetence
Obama - like Bush before him - also appears to be totally incompetent with regard to the economy. He hasn’t been able to rein in the giant banks or significantly lower unemployment. Obama is following disproven models, and has appointed economists who either helped cause the crisis in the first place, or who have drunk the kool-aid of failed economic theory.
But Obama has actually been serving “his constituency”: Goldman Sachs and the other Wall Street giants which funded his campaign.
And as I pointed out last year, top economists running the Fed and advising Obama don’t miss the dangers to the economy due to negligence, but because they are rewarded for doing so:
* Most economists don't exercise any independent thinking because economists are trained to ignore reality:*
* As I have repeatedly noted, mainstream economists and financial advisors have been using faulty and unrealistic models for years. *
The decision to use faulty models was an economic and political choice, because it benefited the economists and those who hired them.
For example, the elites get wealthy during booms and they get wealthy during busts. Therefore, the boom-and-bust cycle benefits them enormously, as they can trade both ways.
There is more.
I left the thread title as I was thought this could be a thread for all supposed incompetence related actions by politicians and economists including what happening in Europe. It’s a question I have constantly asked myself through the whole crash, particualrly when you look at Europes response to the crisis so far. Worthy of discussion. Can you change the title back so it’s not sandboxed to just the US?
