Wednesday, November 26, 2008

Fuck you Obama you goddamn sellout: Obama chooses Volcker as economic advisor

I've tried to keep my head down because of the stunning victory of Obama in the elections, tried to look on the bright side and hope that the promises would be kept and that an actual Progressive administration could be in the offing, but this goes too far.
According to MarketWatch (title link), Obama has appointed Paul Volcker to head the team researching how to deal with the current economic crisis. Who is Paul Volcker? Well Paul Volcker was quite simply the man who implemented Reaganomics. He was appointed by Carter but gained fame during the Reagan administration as the guy who administered neoliberal shock therapy to the U.S. economy, exacerbating a recession already in progress and setting the ideological stage for the destruction of the U.S. social safety net from an economic point of view.

Paul Volcker is our domestic Milton Friedman, our pro-globalization, pro-free market, fundamentalist economic policy leader, and now he's been appointed by Obama as the head of Obama's research group dealing how to address the crisis. Even Bush said that he wasn't a market fundamentalist anymore, but Obama seems to not have gotten that memo.

This is a stunning betrayal, and an unfortunate confirmation of some of the anti-Obama criticism and rhetoric that I leveled at him during the drama ensuing around the Noam Chomsky quote.

No comments: