Nothing to see here …
by digby
The scariest thing I have heard–well, not heard, but that was related to me–is that one of Obama’s most senior economic advisors is now saying that NEC meetings are really peaceful now that there are no professional economists in the room. That strikes me as a very bad sign for policy rationality: given the central projections as of now and given the downside risks to the forecast, NEC members should be running around with their hair on fire…
I don’t get the feeling that the political people are much concerned either.
Is it possible that the whole “no drama” thing is actually willful blindness? Or maybe apathy? Some kind of depersonalization? It’s one thing to be cool under pressure but “peaceful” certainly isn’t how I would describe a healthy reaction to current conditions.
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