Economic Darwinism

Blinder not Receiving Enough Credit for “Cash for Clunkers”

Posted in Alan Blinder, Cash for Clunkers, Federal Reserve by Economic Darwinism on August 8, 2009

The campaign for who will be the next Fed chairman is now well under way. The front runners are Bernanke, Summers, and Yellen with an occasional nod to Blinder. In my opnion, we should immediately cross off the first two. The choice is really between Yellen and Blinder. What has Yellen done recently? The highly successful and popular “Cash for Clunkers” programs is a very pragmatic and smart solution to a real problem. This is Blinder’s baby and he should hire some lobbyists or something to help him market that fact. Everyone knows the “Cash for Clunkers” program but how many people know that Alan Blinder is the guy behind it and how many of those people know that Bernanke’s term at the Fed is ending and Blinder is a candidate to replace him?

Being smart is not good enough. Alan Blinder needs better marketing if he wants to be the next Fed chairman. I think he should be.

Geithner Admits Treasury is a Ponzi Scheme

Posted in Geithner, Ponzi, Treasury by Economic Darwinism on August 8, 2009

This is unbelievable. From Reuters:

Geithner asks Congress for higher U.S. debt limit

“It is critically important that Congress act before the limit is reached so that citizens and investors here and around the world can remain confident that the United States will always meet its obligations,” Geithner said in a letter to Senate Majority Leader Harry Reid that was obtained by Reuters.

So the only way to pay existing investors is to issue more debt to new investors?

Disclosure: I own shares in TMV.