Monday, December 27, 2010

Krugman and Wells on Obama

"Even if Obama were suddenly to find an inner FDR, would anyone notice? His aloofness has become so indelibly registered in voters’ minds that if he tried to change style—even if he wanted to, a big “if”—this would immediately come across as opportunistic. Having trusted and been disappointed by Obama once before, they are very unlikely to give him another chance."

Hard hitting stuff- "Change you can believe in" has morphed into an aloof yuppie Presidency.

Krugman and Wells are interesting on the policy response to the artificially low peg of the remnimbi:

"The obvious American response is to threaten, and if necessary actually impose, countervailing duties on Chinese exports—a step that is backed even by strong advocates of free trade, such as Fred Bergsten of the Peterson Institute for International Economics."

And some closing thoughts on what liberals need to do more of in the future:

"In 2008, progressives fell for the fantasy of hope and change on the cheap; they believed Obama’s promise that the reforms America needed could float through on a tide of bipartisan reconciliation. It was not to be, and clinging to that illusion will only lead to more defeats. If progressives want to rebound, they’ll have to fight."


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