Friday, October 01, 2010

A Depressing Read

This interview with Summers is fairly depressing. He's like the embodiment of "nobody could have predicted," and speaks as if his thoughts at any point in time, though wrong, were Universal Truths at their moment. And this is just wrong.
Summers: If you look at where the economy is relative to what many expected and feared on the day the president took office, it is considerably stronger, with the gathering force of depression we had at that time having been contained.

I mean, "many" is a copout and could be referring to random zombie unicorns, but right now the economy is doing worse than the administration projected when Obama came into office even if there had been no stimulus. I don't fault them for failing to have a perfect crystal ball, I fault them for not having a serious plan 'B' and for embracing austerity rhetoric long before things had turned around (which they still haven't.)

Also, catfood commission.