A: No, I Don't Think So

I think we should look for an alternative explanation.

We've heard much chatter about Treasury Secretary, Tim Geithner, and Economic Advisor, Larry Summers, both making similar gaffes last week-end, cracking the door open for a "middle-class tax increase." I'd say the probability is low, let's say one in a hundred, that the Former Treasury Secretary and former Harvard President, would make such a gaffe in view of the boss's repeated statements to the contrary. I think the probability is equally low that the current Treasury Secretary and former President of the New York Fed would make such a gaffe. If so, the probability of both doing so is 1 in 10,000-1/100 x 1/100.

Come on folks. I'm supposed to be the naïve one around here. Alternative explanations are in order. What about those boys were testing the water for their boss?

Bob McTeer
Stating the Obvious

A Grass Roots Report

When Wal-Mart recently announced support of the employer mandate portion of President Obama's Health Care proposal, a friend of my wife's, a small-business owner, expressed her anger during an extended manicure session. Not one to complain without action, she announced her intention to boycott Wal-Mart, where she had been a faithful shopper for years. She would begin her boycott as soon as she stocked up on some important staples, including washing detergent, fabric softener, and various types of canned goods. Good for her.

Guitar-picking virtuoso, Glen Campbell, was once asked, derisively I assume, if he could read music. He said he could read music, but not so much that it got in the way of his picking.  Not to suggest a comparison, but I'm pretty sure that if I'd ever taken a course in writing poetry, I'd never write another poem; so I hold onto my shield of  ignorance to protect my fun. I think it's probably the same with formal rhetoric and blogging. If I knew all the rules and pitfalls of rhetoric, I'd probably just freeze up.

President Obama is one of the best speakers (and probably one of the best rhetoricians) I've ever heard. He can put words together like few others can. However, he pulls a few tricks on his listeners that I find insulting to my intelligence. I worry that others might not even notice, so here I go again, stating the obvious.

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Congratulations to Bob Gates and to President-elect Obama for making an excellent decision, even if I did recommend it in my latest post. Congratulations are also due on the appointment of my former Fed colleague Tim Geithner as Treasury Secretary and Larry Summers for the White House economic post. I've only met Larry a couple of times, but I've heard him at several conferences and found him most impressive. Both are excellent appointments. I don't know the other members of the economic team, but they have good reputations. It looks like we're off to a promising start.

President–elect Obama demonstrated excellent judgment in choosing my former Fed colleague, Tim Geithner, as his Treasury Secretary. Tim is not only highly qualified for the job, but he also brings needed continuity in dealing with the worst financial crisis since the Great Depression.

My Thanksgiving would be complete if Mr. Obama demonstrates similar wisdom by asking Robert Gates to remain Defense Secretary through the end game in Iraq. He too is ideally qualified, doing an excellent job, and appears to be well along the way to peace with honor, which I define as victory.

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