08 March 2009

Blogs of no importance to Obama Administration

An excerpt from a NY Times article about President Obama:

Mr. Obama rode to the White House partly on his savvy use of new technology, and he has a staff-written blog on his presidential Web site. Even so, he said he did not find blogs to be reliable, citing the economy as one example.

“Part of the reason we don’t spend a lot of time looking at blogs,” he said, “is because if you haven’t looked at it very carefully, then you may be under the impression that somehow there’s a clean answer one way or another — well, you just nationalize all the banks, or you just leave them alone and they’ll be fine.”

I think this is a bad policy. There are many bloggers offering analysis and opinion grounded on extensive knowledge of both economics and finance. I'm not saying that we should subscribe to any one econblogger's ideas, but in this situation more information is definitely better, and there is some high quality information available via the econblogs.

No comments: