Paul from Florida, I basically agree with you, but I’d soften your statements a bit. IMO rationality, planning, forecasting, etc are useful and legitimate, but their proper domain is much smaller than we strongly want to believe. Irrationally literal exploitation of rationality has produced unmanageable unstable complexity.

Speaking of things people want to believe, I want to believe that human progress can be compatible with the lore of the Copybook Gods.

How about they go screw themselves?

Tim Geithner did not “stand out” when needed. He either let events overtake him or he did not know the magnitude of the product of his decisions. There should be better people available. Did those more qualified simply pass on the opportunity?

As for Alix being valued as an employee versus a consultant… Give your head a shake. Do not pass “Go”. Do not collect “$200″.

I’m with the Austrians. I don’t think anyone can know, nor can any number of people be assembled such that they can know the market.

Which is a bit unsettling in that we live in a age where economic planning, especially at the nation state level, is well accepted.

Kind of like, yes the Soviet Union very heavy planned economy didn’t work , but our slightly less but still great planned economy will work. Until it doesn’t and then the witch hunts begin.

New York—Michael Alix has been named a senior vice president in the Bank Supervision Group of the Federal Reserve Bank of New York. He will serve as a senior advisor to William L. Rutledge, executive vice president, Bank Supervision Group. Mr. Alix’s appointment was made by the Bank’s board of directors and is effective, November 3, 2008.

Alix probably knows as much as anyone about the mess that the markets are in. Hiring him as a civil servant is probably cheaper than paying him as a consultant. He is not being given supervisory responsibilities.

As for Geithner’s role in letting Lehman die, I suspect that, just as Cramer is not as important as he acts, his sources are not as knowledgeable as he implies they are.

Jack, I clicked on your links; alas, Excitable Jim is locked behind a registration page for a “free trial”. He’s probably busy, but not in the way he’d like.

The moment Obama deviates from the script prepared for him, he may well find the hounds unleashed on him similar to how they are constantly attacking Sarah Palin. I suspect the MSM hounding of Sarah nips her political weight and shows Obama what would be in store for his “legacy” should he show any sort of a “maverick” streak. That is a good “two-for”.

The old boys are in charge. Live long and prosper… or not.