CNBC's head exploded on Monday

I missed this CNBC-Roubini/Nassim Taleb exchange earlier in the week but it's well worth viewing for anyone who wants more insight into the problems we have both on Wall Street and in Washington. It's not possible to continue with the same old crowd and that absolutely includes the Obama economic team. They don't get it. They were part of the problem just like Clinton and his team were the problem (think Summers and Rubin) as were the Republicans. There's plenty of blame to go around on both sides of the isle though admittedly, the GOP pushed the hardest and took the largest gambles with the system.

The Wall Street apologists at CNBC are the same fools that we are listening to in Washington talk about tax cuts as the answer. Not. The. Answer. What else do they want? They got it all during the GOP Congress-Clinton years and then went into overdrive during Bush. This is not a problem to be solved with a bit of tinkering here and there. It's much bigger than that. Obama fell into the trap by hiring the Clinton team who don't get it either.

By watching this excellent exchange, you can see why we continue to be in this recession and what we're up against for getting out of it. The sooner Obama cuts his losses and gets a team that wasn't in the middle of the problem, the sooner we will move on, though don't expect that change any time soon, if at all in the next four years. In four years, the GOP will be pouncing on "tax cuts to move out of recession" theme once again and unless Obama delivers the change he promised, he is going to be a one-and-done.