Obama Admits Great Depression Is On The Table
For all the folks out there who think another Great Depression is not a possibility, please remind our next President that the idea is absurd because he doesn’t think so.
Christina Romer
In an attempt to put someone with extreme knowledge of the first Great Depression as close to him as possible, President-elect Obama named Christina Romer as head of the White House Counsel of Economic Advisers.
Why is Christina Romer important in the discussion of Great Depression history - because she is widely thought of as the world’s largest expert on the subject. Her thoughts and writings are so accurate and important, historically, she wrote the Encyclopedia Brittanica entry on the subject.
Everyone else on the Obama economic team unveiled yesterday was expected. The Romer appointment was a little bit of a surprise to me, but how could you blame him? I mean, if you are the new President and EVERYONE is talking Great Depression, why not bring the person who knows more about the subject than anyone else? Exactly…you’d do it in a heartbeat.
There are many things to discuss around this appointment, but suffice to say our new President thinks this is a real possibility and he wants to ensure he has all the facts and the best advice on the subject. Kudos to our new President!!!
