Obama's chief economic advisor resigning

In the "I totally called it" bin, Chairman of the White House Council of Economic Advisors Austan Goolsbee announced his resignation.  Of course, the reasons are many-fold, but the biggest one is he got tired of cheerleading a hopeless cause--the non-existent economic recovery.

When his predecessor, Christina Romer quit 9 months ago, I referenced a situation where the rats were abandoning a sinking ship.  That process is accelerating indeed--as Goolsbee's resignation occurred quicker than I had anticipated.  Things must be getting really tense in the economic war room.  Here is a list of quitters among Obama's economic dream team:  Peter Orszag, Rahm Emanuel, Christina Romer, Paul Volcker, Lawrence Summers, Sheila Bair, and now Austan Goolsbee.  I suspect the over/under on Geithner and Bernanke is still far out in the horizon, but as a speculator, I'm long Kool-Aid and pitchforks.

The financial distress the average American citizen is facing will reach a boiling point, despite government proclamations of "green shoots" back in 2009.  The public is tired of being lied to by their own government officials and the mainstream media.  The 21st century version of the American Revolution:  "Let them eat food stamps."

http://www.latimes.com/news/nationworld/nation/la-na-0607-goolsbee-quitting-20110607,0,1058836.story