US Presidential Advisor Larry Summers’ pre-departure rapture for media
By Wendell W Solomons
The Net flames with the clamour of US protests against job losses, foreclosures on homes, continued recession and failed neoliberal policies.
Of the three men TIME featured in its Feb. 15th, 1999 cover story as the “Committee to Save the World” two men of the group have been selected after a decade of testing for direct, heavy protest
These men began influencing policy before – when Reagan arrived in 1976 – and their policy has moved Obama into billion dollar bail outs of Wall Street financial heavyweights at the taxpayer’s expense.
We well know that this has only deepened the economic recession in the US.
TIME magazine’s and related media publicity for the neoliberal “experts” has led US dissenters today into directing their anger at Alan Greenspan, Milton Friedman and Lawrence Summers. In a poll conducted among professional economists in February 2010 these three men were awarded the Dynamite Prize for blowing up the world economy. We also know that the outcry has gone beyond academe to the US electorate in general.
* * *
Today Alan Greenspan is a retiree. Milton Friedman is deceased. That leaves Lawrence Summers as the main target for dissent against failed policy.
This week Summers’ decision to quit his White House position as director of the National Economic Council was put up by magnate news media for transmission to the US and the world.
Yet, this is a staged affair for media audiences. Lawrence Summers proposes leaving the White House not in September 2010 but three months hence – in December.
Why the haste? Summers has three months when he might even change his mind. Even his claim that he would return to laurels at Harvard has been fabulous. Wall Street was forced to clear him from the high profile position of that university’s head due to the protests of teaching staff.
The pre-announcement by Summers intends to head off dissent aimed at him. Hopefully for his backers, that would also head dissent off Wall Street. The pre-announcement attempts to clear the political deck of dissent and help Wall Street clear the way for restoring Republican power at the November 2010 elections with Tea Party hopefuls. Hopefully, Tea Party antics would enter Congress and brush away debate from a return to the regulation of Wall Street that existed before the era of the Dynamiters of the world economy.
To sum up. The staging of Lawrence Summers’ publicity three months ahead of his exit, kicks in to deflect blame from him and Wall Street. It prepares for election of loony Tea Party-stained Republicans and the crushing of democratic reform that would curb Wall Street’s aptitude, for instance, for creating toxic assets.
During the run-up to the elections we can thus foresee and forecast more organised stunts such as the recent Koran burning one that was publicised for world media by Wall-Street-friendly media magnates.
Yet, the publicity stunt brought in protests from the four corners of the world, including allies in the EU. So as Tea Party-stained Republicans scale up stunts for winning posts in November in Congress they will find themselves calling up more voices in the USA that decry neo-fascism. So the method of infecting Congress against financial reform by media stunts will not only retain the recession in the US economy. The transmission of the stunts globally via media networks will blank out constructive, positive perceptions of the USA in the world.