Comments on: Volcker: ‘I wasn’t persuasive enough’ for Obama to heed my economic advice http://www.creditwritedowns.com/2010/01/volcker-i-wasnt-persuasive-enough-for-obama-to-heed-my-economic-advice.html Finance, Economics and Markets Fri, 10 Feb 2012 00:37:00 +0000 hourly 1 By: Onlooker from Troy http://www.creditwritedowns.com/2010/01/volcker-i-wasnt-persuasive-enough-for-obama-to-heed-my-economic-advice.html#comment-57981 Onlooker from Troy Tue, 05 Jan 2010 03:34:00 +0000 http://www.creditwritedowns.com/2010/01/volcker-i-wasnt-persuasive-enough-for-obama-to-heed-my-economic-advice.html#comment-57981 "It will take economic collapse to eventually persuade us that change must occur. For now, it is business as usual." Precisely. This is why most of us economic "bears" are bearish. Because we won't fix things without a large and hugely corrective drop in asset markets and a recognition of losses on the reckless lending that has been done. And all attempts to prop things up are just attempts to keep the status quo and avoid pain to those in power and with the most to lose. Of course the longer they do this the bigger and more certain a collapse becomes. And it's obvious why they ignore Volcker. His advice and prescriptions don't conform with the aforementioned attempts to keep the status quo. Simple as that. “It will take economic collapse to eventually persuade us that change must occur. For now, it is business as usual.”

Precisely. This is why most of us economic “bears” are bearish. Because we won’t fix things without a large and hugely corrective drop in asset markets and a recognition of losses on the reckless lending that has been done.

And all attempts to prop things up are just attempts to keep the status quo and avoid pain to those in power and with the most to lose. Of course the longer they do this the bigger and more certain a collapse becomes.

And it’s obvious why they ignore Volcker. His advice and prescriptions don’t conform with the aforementioned attempts to keep the status quo. Simple as that.

]]> By: janchup http://www.creditwritedowns.com/2010/01/volcker-i-wasnt-persuasive-enough-for-obama-to-heed-my-economic-advice.html#comment-57969 janchup Sun, 03 Jan 2010 22:00:00 +0000 http://www.creditwritedowns.com/2010/01/volcker-i-wasnt-persuasive-enough-for-obama-to-heed-my-economic-advice.html#comment-57969 Paul Volker is too polite about his intentional marginalization. Some people just can not tolerate a truth teller. Team Obama has their own agenda. Paul Volker is too polite about his intentional marginalization. Some people just can not tolerate a truth teller. Team Obama has their own agenda.

]]> By: James Hartje http://www.creditwritedowns.com/2010/01/volcker-i-wasnt-persuasive-enough-for-obama-to-heed-my-economic-advice.html#comment-57966 James Hartje Sun, 03 Jan 2010 21:34:00 +0000 http://www.creditwritedowns.com/2010/01/volcker-i-wasnt-persuasive-enough-for-obama-to-heed-my-economic-advice.html#comment-57966 Obama needs to start taking someones advice before the economy cripples again. Obama needs to start taking someones advice before the economy cripples again.

]]> By: LavrentiBeria http://www.creditwritedowns.com/2010/01/volcker-i-wasnt-persuasive-enough-for-obama-to-heed-my-economic-advice.html#comment-57964 LavrentiBeria Sun, 03 Jan 2010 21:09:00 +0000 http://www.creditwritedowns.com/2010/01/volcker-i-wasnt-persuasive-enough-for-obama-to-heed-my-economic-advice.html#comment-57964 Yes, Hitler was known for this kind of thing. People of this type usually place a cesura between themselves and what is objectively real. They are convinced that if they simply will something enough, eventually it will come to be. Hitler, of course, blew his brains out after having failed to hold off the Red Army, that despite his having marshalled any number of phantom divisions in its direction so as not to have to accept that his plans and leadership were deficient. Be careful of folks that think they're the truth. Yes, Hitler was known for this kind of thing. People of this type usually place a cesura between themselves and what is objectively real. They are convinced that if they simply will something enough, eventually it will come to be. Hitler, of course, blew his brains out after having failed to hold off the Red Army, that despite his having marshalled any number of phantom divisions in its direction so as not to have to accept that his plans and leadership were deficient. Be careful of folks that think they’re the truth.

]]> By: Jeff http://www.creditwritedowns.com/2010/01/volcker-i-wasnt-persuasive-enough-for-obama-to-heed-my-economic-advice.html#comment-57963 Jeff Sun, 03 Jan 2010 20:14:00 +0000 http://www.creditwritedowns.com/2010/01/volcker-i-wasnt-persuasive-enough-for-obama-to-heed-my-economic-advice.html#comment-57963 I once had the CEO of a well known (and today successful) tech company tell me something alone the lines of "We are interested in any input you may have, unless it's negative... we certainly don't want any of that!" Here we have Volcker saying the financial system and large parts of government itself are broken. These are the systems that brought the administration to power. It then follows that his thinking that he was not persuasive is highly accurate... I once had the CEO of a well known (and today successful) tech company tell me something alone the lines of “We are interested in any input you may have, unless it’s negative… we certainly don’t want any of that!”

Here we have Volcker saying the financial system and large parts of government itself are broken. These are the systems that brought the administration to power. It then follows that his thinking that he was not persuasive is highly accurate…

]]>