I don't think Carville recognizes it yet, but the White House is already in panic mode - they're just so incompetent we can't tell the difference between business as usual and hair-on-fire hysteria.

CNN:

People often ask me what advice I would give the White House about various things. Today I was mulling over election results from New York and Nevada while thinking about that very question. What should the White House do now? One word came to mind: Panic.

We are far past sending out talking points. Do not attempt to dumb it down. We cannot stand any more explanations. Have you talked to any Democratic senators lately? I have. It's pretty damn clear they are not happy campers.

This is what I would say to President Barack Obama: The time has come to demand a plan of action that requires a complete change from the direction you are headed.

I don't know how else to break this down. Simply put:

1. Fire somebody. No -- fire a lot of people. This may be news to you but this is not going well. For precedent, see Russian Army 64th division at Stalingrad. There were enough deaths at Stalingrad to make the entire tea party collectively orgasm.

Mr. President, your hinge of fate must turn. Bill Clinton fired many people in 1994 and took a lot of heat for it. Reagan fired most of his campaign staff in 1980. Republicans historically fired their own speaker, Newt Gingrich. Bush fired Defense Secretary Donald Rumsfeld. For God's sake, why are we still looking at the same political and economic advisers that got us into this mess? It's not working.

Carville also suggests that Obama indict bankers for the financial meltdown of 2008, "Make a case like a Democrat" for more spending, and keep blaming Republicans for the mess we're in.

Besides firing people and indicting bankers, Obama is already doing as Carville suggests - just not as strongly as he would like.

Carville is not being very helpful. But really, there is little to be done if you're running Obama's re-election campaign. Panic might have already set in, but the result isn't making a difference. Those economic numbers won't be altered no matter how hysterical the White House gets about bankers who are still under investigation for breaking the law. And it is on those numbers that Obama's fortunes will rise or fall in 2012.