RICHARD POLLOCK: With Austan Goolsbee’s departure, the collapse of the president’s economic team is nearly complete.

UPDATE: A Wall Street reader emails:

Debt at record high peacetime levels, food stamp use at record high, long-term unemployment at record high, federal regulatory reach at record high, dollar buying power at record low. Such consistent results can’t be result of random incompetence. A conspiracy-minded critic would say the White House economic team is leaving under a banner reading Mission Accomplished. None of *them* are unemployed on leaving DC.

For the ruling class, it’s never a depression.