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Economic Genius and Crystal Balls

March 18, 2011

Economics is extremely useful as a form of employment for economists.
– John Kenneth Galbraith

If all the economists were laid end to end, they’d never reach a conclusion.
– George Bernard Shaw.

The same bonehead economist whiz kids who never saw this fiscal tsunami coming now tell us the recovery is going quite nicely, and the future is bright and sunny. Methinks these guys are employing some advanced economic forecasting tools…

But fear not, O fiscally battered and bewildered ones! President Yes We Can has put together a crack team of crackpots to deal with the economy. Behold the President’s Economic Recovery Advisory Board.


“I created this board to enlist voices that come from beyond the echo chamber of Washington, DC, and to ensure that no stone is unturned as we work to put people back to work and get our economy moving.” – POTUS

Here’s the catch. The “our economy” referred to does not mean the one in the world which you and I occupy. This group of ideologues has no interest in restoring “our” economy, but “fundamentally transforming” it, just as Mr. Hope&Change promised. The jobs they are talking about are government jobs, greenie jobs and of course union jobs. And ultimately the folks that got Obameister elected will become very rich.

I started digging into it, and it didn’t take long to learn the majority of this board have no interest in the economy, apart from diverting as much of it as possible into their pockets. Cant really do justice to all of them in one post, so here’s the first installments:

Robert Wolf: President and COO of UBS Investment Bank since 2004 and Chairman and CEO of UBS’s Group Americas division. He is responsible for coordinating Investment banking, Wealth management and Asset management business sections for the US.
Just one snag. Mr. Wolf works for a foreign bank who agreed last year to pay the U.S. government $780 million to settle accusations that it had helped defraud the Internal Revenue Service. The Justice Department alleged that UBS helped 52,000 wealthy Americans hide billions of dollars in assets to avoid U.S. income taxes  It appears Mr Wolf had a very good gig sheltering client’s from the IRS via Swiss accounts. He has been removed as a member of UBS’s Group Executive Board which he had only been on since March 2008. The Swiss government just last month agreed to release names of the American tax evaders hooked up with Swiss bank accounts through Mr. Wolf’s office. This should be interesting. Would it surprise you to know he was a major fundraiser for Obama’s election? Didn’t think so. He has no qualifications for this board – this is payola.

Lozano, Behind Volkner

Monica Cecilia Lozano: Publisher and Chief Executive Officer of La Opinión (the largest Spanish publication in the United States) and senior vice president of its parent company, Impremedia, LLC. Ms Losano is an outspoken open borders advocate, and was instrumental in the LA boycot of Arizona. She is very interested in creating jobs – for illegal immigrants.

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