The Lame Duck has laid an egg on the economy, and nothing better can hatch until he gets out of the nest.
Tomorrow the President-in-Waiting-Who-Can’t-Afford-to-Wait will announce his financial dream team and game plan as panic buttons are being pushed all over the world.
*On Meet the Press, Bush family Consigliere James Baker, who muscled W. into office in 2000, now suggests he vacate early by sitting down with Obama now “to see if there isn’t something that they could do jointly, together, over the next 58 to 60 days that would help us make sure that the financial system is stabilized and secure,” warning that “this thing is even, believe it or not, going to get worse…(S)itting down together and seeing if there’s not one thing that they could come together on would do a lot to restore confidence and remove the anxiety and fear that’s out there.”
*Senior adviser David Axelrod says Obama “wants a plan big enough to deal with the large challenges we face. And I think there’s a growing consensus across the spectrum among economists that we’re going to have to do something big,”
*The International Monetary Fund’s Chief Economist predicts “The worst is yet to come” in the universal liquidity crisis.