Yves Smith is really very upset with President Obama:
I’m so offended by the latest Obama canard, that the financial crisis of 2007-2008 cost less than 1% of GDP, that I barely know where to begin. Not only does this Administration lie on a routine basis, it doesn’t even bother to tell credible lies. .And this one came directly from the top, not via minions. It’s not that this misrepresentation is earth-shaking, but that it epitomizes why the Obama Administration is well on its way to being an abject failure.
Her explanation for this is that the president believes that public relations can solve every problem.
I don’t think that’s right. I think he doesn’t know any better. I think he’s not particularly well-informed or curious about areas far afield from his core interests, relies on informants, his informants are afraid or otherwise not motivated to tell him the truth, and he is ill-served by his subordinates.