November 28, 2008
Obama Appoints University of Starbucks Economic Department
Ever walk into a
Starbucks and see a bunch of people sitting
there debating textbook theories and solving
all the world’s problems over a mocha java?
If so, then you’ve visited a University of
Starbucks campus.
These are precisely the
kind of people who have gotten America into
the current economic mess. That’s because,
when there’s a serious problem to deal with,
their instinct is to theorize and
philosophize. If their corduroys were on
fire, they would sit there pondering the
nature and deeper meaning of the flames.
Now, the sophisticated intelligentsia of
Team Grande Venti – which means something
like “large” and “bucket size” in
Starbucks-Italian, but I prefer the French
version of “grand” meaning “big”, and “vent”
meaning “wind” – are about to set up campus
in Obama’s White House to advise him on
economic issues.
Let’s take a look at
some of the players:
The head of New York’s
Federal Reserve, Tim Geithner, described by
the NY Daily News as a “veteran
Treasury insider”, will become Treasury
Secretary. Geithner wants “more regulation
and oversight”, apparently forgetting that
if there was any of that to be done, it has
been his job all along as a “veteran
Treasury insider”. Fail.
Barry O’Media has
appointed another retread from the Clinton
Administration – all of whom I like to
qualify in the new “Change Administration”
as “leftover change”. Former Treasury
Secretary Larry Summers will play a key role
on Team Grande Venti. Summers has barely
ventured outside of academia and Harvard.
When he did, it was as Chief Economist at
the World Bank, where he signed off on a
memo musing about such pressing world
banking issues as exporting pollution to
Third World countries.
How do you even do
that? Via FedEx? Apparently so. According to
the memo: “I
think the economic logic behind dumping a
load of toxic waste in the lowest wage
country is impeccable and we should face up
to that.” Summers later called the whole
thing “satire”, which makes total sense
considering how often people confuse the
World Bank with the Colbert Report. I
believe the last time I went to a comedy
show in New York City, the comedian
confessed that he gets most of his material
from the World Bank.
UC
Berkeley economics professor Christina Romer
rounds out Team Grande Venti as head of the
Council of Economic Advisors. She studied
the Great Depression.
That’s
nice. But where is the person on this team
who has lived through their own
personal great depression? Preferably
someone who used the backseat of his car as
a bed, and dined on bread and ketchup. How
about having at least one self-made person
on this team who created success and fortune
from scratch – an economic MacGyver? That’s
the person with the answers.
Meanwhile
Obama’s solution is to keep throwing money
at the problem, saying he wants yet another
stimulus that is “significant enough that it
really gives a jolt to the economy.” How
many government administered “jolts” does
the economy need before it shows some sign
of life? If he was an emergency room doctor,
he’d be working his way through the morgue
with a defibrillator.
Obama
added: “It is going to be of a size and
scope that is necessary to get this economy
back on track.” He doesn’t know what that is
yet, because the University of Starbucks
Economic Department has yet to convene with
Barry O’Media. Just because he’s already
acting like he’s the president with a
special sign for his podium, weekly Internet
addresses and a web site for his government
(change.gov), doesn’t mean he can be
expected to provide any answers yet. Because
the last thing Obama would want to do is
give President Bush the sharp elbow in any
matter than isn’t strictly symbolic.
The jolt
the economy needs is the one that Ronald
Reagan gave the country: Encouragement. And
the message that if government backs off,
each individual can work his way out of
this. Barry’s already been down in the mouth
since he was elected.
The
problem is that liberals won’t lay off. They
tell the auto industry what kind of cars
they can build, they tell restaurants how
much salt they can use in their food, and in
Canada this week the heavily liberal
judicial branch told Air Canada how many
extra free seats fat passengers must be
given.
Still, if
you’re a CEO making millions, now is your
chance to prove why you’re paid the big
bucks. It’s like A-Rod at the plate in the
final inning of a tied-up World Series. He
earns his full worth in that single moment,
and isn’t expected to collapse into putty on
the mound and start crying for his mommy.
You aren’t either. Put your hands back in
your own pockets and do what you’re paid to
do – fix messes. This proposal Obama is
asking you to write in exchange for bailout
bucks should contain only two words: “Hands
off.” And maybe one of these sideways
smileys: :p
Meanwhile,
Obama says of the “Big Three” automakers: “I
was surprised that they didn't have a better
thought-out proposal when they arrived in
Congress.” That’s great, self-effacing
satire. Almost on par with The Onion.
Or the World Bank.