Rubinomics Recalculated in New Economic Team

[groovedaddy]

WASHINGTON — It is testament to former Treasury Secretary Robert E. Rubin’s star power among many Democrats that as President-elect Barack Obama fills out his economic team, a virtual Rubin constellation is taking shape.

The president-elect’s choices for his top economic advisers — Timothy F. Geithner as Treasury secretary, Lawrence H. Summers as senior White House economics adviser and Peter R. Orszag as budget director — are past protégés of Mr. Rubin, who held two of those jobs under President Bill Clinton. Even the headhunters for Mr. Obama have Rubin ties: Michael Froman, Mr. Rubin’s chief of staff in the Treasury Department who followed him to Citigroup, and James P. Rubin, Mr. Rubin’s son.

All three advisers — whom Mr. Obama will officially name on Monday and Tuesday — have been followers of the economic formula that came to be called Rubinomics: balanced budgets, free trade and financial deregulation, a combination that was credited with fueling the prosperity of the 1990s.

But times have changed since then. On Wall Street, Mr. Rubin is facing questions about his role as director of Citigroup given the bank’s current woes. And in Washington, he and his acolytes are calling for a new formulation to address the global economic crisis that Mr. Obama will inherit — and rejecting or setting aside, for now, some of their old orthodoxies.

http://www.nytimes.com/2008/11/24/us/politics/24rubin.html?_r=1&th&emc=th

[MannyGoldstein]

1. Rubinomics = Trickle Down + Offshoring

A fabulous strategy.

(Fabulous for the Predator Class, that is.)

[groovedaddy]

2. Why do you hate America? ;-> n.t

[pscot]

3. You have to wonder what it will take

to make Americans mad enough to start demanding justice. We've been so brainwashed that we no longer recognize when we're being screwed. And of course, everything these rats have done is all legal and above board. They rewrote the rules to make it so.

[unlawflcombatnt]

4. Amen

Let's just completely rid ourselves of all of those "outdated" manufacturing jobs.

We don't need to produce anything, as long as we have enough credit.

:sarcasm: