It’s a tricky moment for the BBC as the US stock market drops even lower than Obama’s approval ratings, so what to do to try and bolster their hero? How about inviting one of his advisers, Laura Tyson, on to Today for an inspirational interview with a simpering John Humphyrs? What amused me was that Humphyrs came across as more upbeat about the prospects for the US economy than even the Obama apologist, which tells you all you need to know about how the BBC views things. I believe it just cannot understand why S&P downgraded the US, and may indeed give it a further downgrade. Through the prism of Obama-worship, the only explanation must be the reckless Tea Party folks who insist on cutting the Debt in the same way as..erm..S&P recommend!

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  1. Sres says:

    I listened to this, I found it interesting that Laura Tyson, Economic Advisor to Obama quoted Keynse, not that an economist won’t have studied his economic policy, but just that she quoted his full name, kind of a hommage almost…


    • David Preiser (USA) says:

      Exactly. Sadly, Keynes is also the patron saint of economics at the BBC as well.  Let’s see Today have on an articulate defender of the Tea Party movement for once.  And I don’t mean a candidate or a candidate’s rep, either.


  2. cjhartnett says:

    And she quoted his notion of markets having “animal spirits” too.
    Who said that economics was “a rational science”, and not voodoo chicken entrail displays by failed mathematicians then?
    Still all this interview was conducted in sadness and not in anger-as it would have been had Dubya seen his country lose the triple A rating!
    Obama can do no wrong can he?…despite every news item from the States showing that he`s just Jimmy Carter without the peanut farm!
    Therefore even less use!
    Who`d have thought such a thing possible-not Keynes anyway!
    This overblown champagne Charlie was propped up at the cleverclogs bustop last night alongside other safe liberal intellectuals like Bertie Russell-the BBCs idea of what clever people should be like…safe,smug and plummed up…so Stephen Fry is all we get these days!


  3. David Preiser (USA) says:

    Every single ratings agency, every single economics talking head not named Paul Ktrugman or Stephanie Flanders, and now even the IMF say that we need to cut spending in a massive way, regardless of whatever taxes manage to get raised.  They don’t recommend printing more money forever, FFS.

    The ultimate disgrace is when, after the Scotia Capital guy says things are going to be tough all over for a long time, Humphrys says, “You don’t know what you’re talking about”.  He’d never say that to a Labour luvvie or to the Obamessiah adviser.  Very clever way to rubbish the negative outlook, BBC, to set up the supposed optomism of Tyson.

    And her genius contribution?  Growth is important.  No sh!t.  Humphrys laps it up as if this is some sort of new wisdom, again betraying the bias and ignorance of the BBC producers.  The discussion isn’t whether or not we need growth, but how to achieve it.  Tyson’s contribution was a joke, partisan and offering nothing.  The risk of default can’t be zero forever.  If we printe enough money to cover it each time, eventually it will be Weimar wheelbarrow time.

    Humphrys also got in a mention of ‘Two Eds’ Flanders’ “loose lips cause recessions” meme.  And it depresses animal spirits now?  How wet can you get?  I can’t take this woman seriously at all.  That would have been an appropriate moment to tell her that she doesn’t know what she’s talking about either.  But it would never happen on the BBC.

    Madness, and continued proof that the BBC cannot be trusted on the issue.