I’d meant to restart my blog activity with a scintillating post today but stupid Starbucks and their new policy of chasing me away (see my older posts) interfered. So here it is late at night and no time to really do this right. But I can’t ignore key news today, that Larry Summers finally (justly deserved) got chased out of the race for Fed Chairman. Summers is hated by feminists for his rude and wrong comments, but that’s not why he shouldn’t be Fed Chairman. No, it’s more fundamental and basic. He’s a tool of corrupt Wall Street and would wreck even more of the economy just to enrich a tiny fraction of the world. I don’t believe this is what Summers expected to be in life, a servant of the worst criminals in history, but as fate would have it, it’s what he’s become. So whatever pressure induced him to withdraw at least in his final act he shows a little class (undoubtedly to be be rewarded with vast sums of cash) and withdraws.
BUT, and the reason I prematurely resume my blog, Barry is not going to appoint Yellin, that’s the prediction I’m making here.
Someone once said the real proof of making predictions is putting your money where your mouth is. Well, making a prediction on a blog is hardly that, but at least, now that I’ve said it, I can’t spin it if I’m proven wrong. So not quite a bet, but at least a stake in the ground.
I used to like BO. He’s the first candidate, actually, I’ve ever supported at the right bottom line, with campaign contributions. I like Bill and adored JFK (if still too young to vote for him), but Barry stole my heart. That is, until I realized he’s just as much a tool of Wall Street thieves as Dumbya or any of the Repugs. Liberal, right, yeah, only in a few irrelevant ways. When it comes to the rich, he’s just as establishment and pro-1% as any other politician. They own everyone.
So, of course, he loved Summers, another darling intellectual who kissed ass of our masters, the rich. Summers does what the rich tell him to do, so does BO. He may do Obamacare and outrage the idiot tea baggers, but when it comes to the real issue in American politics, the money and the rich, BO toes the same line as every other politician does.
But Summers made it hard. Summers is so stupid and arrogant he runs his mouth and says dumb things that pissed off women. Irrelevant compared to his conspiracy to aid the rich ripping all of us off, but enough, in Democratic Party internal politics, to cause trouble. In short, an inconvenient truth for BO. Of course BO wanted to appoint Summers, so he and Summers would do the bidding of the obscene rich, but Summers had diarrhea of the mouth and irritated too many women. So BO had to force him out. Plus, of course, Summers is a crook (now, even if he wasn’t before his Washington service), and too indebted to Wall Street, too bought-and-paid-for. And confirmation hearings might have exposed the whole corrupt mess. So the real power in the U.S., the big bucks guys, decided to cut their PR losses and tell BO and Summers to STFU. Too bad, Larry, you played the game and blew it.
But BO doesn’t like being pushed around. To appoint the obvious most qualified candidate now, Janet Yellin, would imply BO can be pushed around by Elizabeth Warren and Brooksley Borne and so forth and BO has to do his alpha male thing and show he’s still in command (at least when the Repug crooks let him pretend he’s President). So I say he’ll find someone else, someone Wall Street can push around and continue stealing trillions from (as they rolled poor ole’ academic Bernanke, who had no idea how big a thief these titans of TBTF banks really are). Janet just might actually be an honest true believer, just like Sheila Bair and the other women who’ve exposed this old boy network for what it is, a den of the top thieves on the planet. So BO can’t do that, pick the woman who is actually both right and competent. He had one chance to kick Summers if he’d listened to Christiana Romer, but BO is part of the Wall Street cabal too. Guys like alpha male Jamie Dimon know they can easily bluff and roll any two-bit lawyer from Harvard.
So whoever moves into Fed will be a surprise (but an approved choice of the old boy network). I’m sure Janet realizes she’s not going to get this either and is probably scrambling to kiss Rubin’s ass (as the surrogate and emeritus chairman of the old boy network) but I’m willing to go out on a limb and say it’s not her (if it were, we’d have seen that announcement, but BO is now looking for someone else, to save face, to pretend he’s actually the President).
So you heard it here first.
And as Arnold would say, Ahm back!