The Second Derivative

clipped from pajamasmedia.com Somebody had to say the obvious. Barack Obama is tying himself in knots. Andy Grove does in the Washington Post. We have gone through months of chaos experimenting with ways to introduce stability in our financial system. The goals were to allow the financial institutions to do their jobs and to develop confidence in them. I believe by now, the people are eager for the administration to rein in chaos. But this is not happening. I made a similar observation in past posts, and wrote, not long ago, that Obama’s desire to turn the economic crisis into a laboratory for his own political vision was a disaster waiting to happen. Andy Grove understands the dangers well. But does Obama? I wrote: Maybe part of the reason the White House is frazzling itself into the ground is that they’re trying to remake everything. Everything has now become part of the delta. Everything is changing. Now they are facing the revenge of the second derivative: the rate of the rate of change.