Wanker of the Day

Paul Krugman actually linked the Monty Python sketch and Timothy "Eddie Haskell" Geithner OP/ED first.

Little Timmy Geithner just penned an OP/Ed today, "Welcome to the Recovery," which is remarkably clueless.

While he admits that there is still a tough row to how, his he characterization of the recovery is positively Hooveresque.

I am surprised that he did not announce that "Prosperity is just around the corner."

He declares, "We are on a path back to growth," and that "The economy on the road to recovery".

I understand the desire to paint this rosily, but it is a political loser: Americans do not respond well to claims of a robust recovery when ⅙ of the workforce (U6) is unemployed.

I think that the problem here is that Geithner does not see this unemployment level as a problem.

Why else would he suggest that at a time when there are 5 job applicants for every job opening, a record, that the problem is just that American workers need training:

The share of workers who have been unemployed for six months or more is at its highest level since 1948, when the data was first recorded, and we must do more to ensure that they have the skills they need to re-enter the 21st-century economy.

This is offensive and wrong on so many levels.

As Atrios notes:

The sentence that should have been written is:

The share of workers who have been unemployed for six months or more is at its highest level since 1948, when the data was first recorded, and we must do more to ensure that they have jobs.

But obviously that's not what they're thinking. Unemployment is a skills mismatch problem, unemployed losers don't "have the skills they need to re-enter the 21st-century economy."

We're screwed.

Anyone who thinks that the problem is a temporary dislocation of workers, as opposed to a period of catastrophic job loss should be considered to lack the skills necessary to be employed in the 21^st century economy.

Fire Tim Geithner now.