Quote from: djproject on July 16, 2011, 02:16:30 AM

Quote from: Rassah on July 14, 2011, 05:00:42 PM

Quote from: hugolp on July 14, 2011, 06:22:00 AM

Elections on 2012.
...

I just wish people would realize that presidents, whether republican or democrat, really DO NOT have control of the economy. They're not like pilots in a plane. At most they're just stewardesses, with no real control over things like unemployment, markets, etc. The Fed and Congress have way more sway in it, but presidents always take credit for when economy improved (Clinton taking credit for Internet and globalization), or get blamed when the economy tanks (Bush and Obama being blamed for things caused by Congress and banks)

Well, for starts, he could nominate some people who AREN'T wealthy banksters into his cabinet and government. Replace Bernanke. Veto anything bad Congress attempts to do.

But of course a president would never do any of those things, so in practice, yes, you are right.

You hire people who work in the field and have experience. That's the problem with these positions: you basically have to hire the fox to watch the chicken coup, because the fox is the only one who knows what its weaknesses are.
As for Bernanke, he follows the same school of economics most other top economists do. Hiring anyone else would result in similar decisions (even Ayn Rand fan Greenspan did Keynesian things when he thought they were prudent).