Flashback: “Is there a risk the US could lose its AAA rating?” Tim Geithner: “No risk”
ZIP has a “no F-bomb” policy, so no comment.
April 19, 2011:
Via Zero Hedge
Posted by WM on Friday, August 5, 2011, at 9:41 pm | 
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Geithner is a stooge, a dupe and a fool. He has lied since DAY ONE.
Playing the American Public is what they do best, hardly surprising.
Geithner and Obama have had this plan of destruction and deceit for a long time. It’s calculated and it’s brilliant.
The Obama/Geithner team go way back. In fact his communist mother worked for little Timmy’s father…kinda makes you think this economic nuclear bomb was hatched decades ago…
http://northerngleaner.blogspot.com/2009/07/barack-obamas-mother-worked-for-timothy.html
He will just take a line from his boss – I didn’t anticipate how bad the problem was. And you can bet the lib media will give him a pass.
- What an utter Moran….
Now here’s some good news…Let’s hop it’s not Shrillary again
http://hotair.com/archives/2011/08/05/ralph-nader-were-totally-going-to-primary-obama/
Some elves are evil.
Maybe we would be better off if we did not have a leprechaun running our treasury. He keeps looking for the pot of gold that the millionaires and billionaires who make $250,000 a year have.
I got your back Zip.
Geithner is a FUCKING maggot along with every other luciferian in this regime
What a &@%# dumb-ass!
Nothing but a tool!
Way to go team Obama! You’ve managed to screw all our investments, loans and the assurance that our economic mess will continue in one feld swoop!
Tax-Cheat Timmy Turbo takes his orders from the Master of Disaster…no one’s fault but President Barack Obama…period.
Watung for Barry to blame Bush. Of course he will play golf on Sunday, he needs the relaxation you know.
If there were ever an occasion for a suspension of the “no F bomb” rule this would totally be the fucking time.
What a friggin’ mess this will be come Monday morning.
I didn’t know there was an F bomb rule.
Timmy sez….” Math is too hard “
Thanks Congress and 0BAMA………
The ratings agencies said do a $4 trillion debt reduction deal or
face a downgrade that will lead into a DOUBLE-DIP RECESSION/DEPRESSION………..
and YOU said “NO…….WE’LL KICK THE CAN DOWN THE ROAD AGAIN.”
THANKS FOR THE DOUBLE-DIP.
It HAS to be Bush’s fault!
I’m sure the president will slip through this very smoothly by blaming congress or bush or santa claus. He will NEVER take responsibility for anything that goes WRONG. His followers will say “ya, it’s so and so’s fault”. He’ll slip through again.
I blame all the musicians Obama invited to the WH for his birthday. They all fly around in jets or something.
We just gotta get rid of this guy. I am so sick of seeing and hearing about his debacles. He is IOHH by a mile. We had better put our differences behind us and stick together. I would consider voting for a goat if it had an R or C after its name. This schlock has gotta gooooooooo!!!!!!!!!!!!
Geithner is trying to close a very wide gap in deficit spending that has been going on for decades, except for a very short period during the Clinton administration. The gap widened tremendously under Bush Jr, because of the pointless wars we undertook. Obama continued overspending following classical Keynesian economics in an attempt to prevent a depression, with only partial success. The sad truth? There is no answer, Left or Right. We are going to have a lower standard of living in America with very serious problems for those who are already struggling. You can blame Obama all you want but he just inherited an impossible problem that has no solution.
You can blame Obama all you want but he just inherited an impossible problem that has no solution.
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a great example of the stupid leftist thought pattern
Obama continued overspending following classical Keynesian economics in an attempt to prevent a depression, with only partial success.
##########################################
The gift that keeps on giving… leftists providing analysis
As you will note I said neither the Left nor the Right have the answer. If I was “a Leftist” why would I reject the Left wing solutions? I am trying to suggest an independent analysis of a hopeless situation. It has nothing to do with extreme politics or political classifications. Its based on numbers. The deficit is too great to close without a serious shock to the system. Yet it must be closed somehow. The Tea Party feels small government is the answer. Be my guest and see what happens. I don’t think the results will be very pretty.
The Tea Party feels small government is the answer. Be my guest and see what happens. I don’t think the results will be very pretty.
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Again with the stupid half assed analysis.. you reject ring wing solutions too
If I was “a Leftist” why would I reject the Left wing solutions?
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I don’t see anywhere… in either of your two posts…
…where you rejected left wing solutions
but you are quick about rejecting right wing solutions…
=========================
The Tea Party feels small government is the answer. Be my guest and see what happens. I don’t think the results will be very pretty.
===============================
@Rob
Yup, the trolls are out tonight in force. Tim Geithner should be in stripped pajamas.
Jay says…
I don’t think the results will be very pretty.
##############################
threats?
Will you… and your leftist pals rise up…against the Bourgeosie
Rocketman… yeah…I missed the good stuff earlier
The Left wing solution of spending our way out of the recession has not worked. It has increased our deficit and eventually as interest rates rise most of our tax revenues will be used to pay the interest. The overseas payments to China and the Arab oil exporters will represent a big loss of wealth. So this will be slow train wreck that will take a decade to unfold. It seems most of you can just think in black and white terms without any analysis. Do you really think changing Presidents will make any difference? Its almost irrelevant. Elect Sarah Palin. We’ll still be in the same mess. At least she’s cute.
The Left wing solution of spending our way out of the recession has not worked.
=======================================
So you critique the right wing solution…?
and then threaten a negative response for doing it…
Do you really think changing Presidents will make any difference?
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Where did I say that…
Many factors have undermined our nation. Globalization for one thing. We lost our manufacturing base to China. They work harder for less money. So we now have a giant rust belt and towns in Middle America are falling apart. Those jobs are not coming back. So who to blame? Our unions perhaps for demanding very high wages? Management of the auto industry for not designing cars as well as the Japanese? No…I have an idea. Lets all blame Obama and then when we vote him out of office all those jobs will return to America.
“Obama continued overspending following classical Keynesian economics in an attempt to prevent a depression, with only partial success.”
===========================================
So you think Obama had partial success? At what?
Rob: Do you really think changing Presidents will make any difference?
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Where did I say that…
You didn’t say it. Others in this forum have strongly suggested that getting rid of Obama is the answer. I was responding to the general tone on this bulletin board not specifically to you. Can I then assume you agree with me that the economic problems faced by America today are bigger than any President?
“Obama continued overspending following classical Keynesian economics in an attempt to prevent a depression, with only partial success.”
===========================================
So you think Obama had partial success? At what?
Arguably he may have prevented a more serious problem, a collapse of the banking system and a deeper recession. If I recall correctly much of this money was committed in the closing days of the Bush Jr administration and that policy of saving the banking system continued under Obama.
“…and towns in Middle America are falling apart….”
######################################
Then where did the over one trillion dollars in stimulus go?
$814-billion stimulus one month into Obama’s term, followed shortly by a $410-B omnibus bill.
Obama asked for the second half of TARP ($350 B) even before taking the oath of office, and then spent much of it on buying car companies.
Obama said it was for “shovel ready ” projects..
Obama said it would go to infrastructure, bridges, roads …
you imply towns are falling apart….
yet they were infused with 1.5 trillion dollars
So who is lying?
Where did Obama put that money?
and please stop bashing Bush… and defending Obama…
you say this is bigger than any President… than you can’t blame one man
@ Jay
When barry is kicked to the curb in 2012 and President Perry is in the white house, then and only then will business people have confidence in the government. Until then, we are all fucked.
“…Arguably he may have prevented a more serious problem, a collapse of the banking system and a deeper recession….”
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oh… and since you bring it up…
Obama cannot blame his spending on fighting the recession.
The recession ended in 2009… remember….
===========================
WASHINGTON | Mon Sep 20, 2010 1:14pm EDT
http://www.reuters.com/article/2010/09/20/us-usa-economy-nber-idUSTRE68J2JJ20100920
(Reuters) – The recession ended in June 2009, making it the longest downturn since the Great Depression of the 1930s, the National Bureau of Economic Research said on Monday.
==================================
June of 2009 to be exact…
I said arguably and you are providing the argument. Perhaps the money was spent unwisely. Perhaps local politicians had pet projects that helped no one. Perhaps if no money was spent things might have been worse. Would John McCain have done better with this problem? Who knows? My view is if nothing was spent we’d have had a banking collapse and it would have been worse. Can I prove it? No, its just my judgement. It would be wonderful if America’s problems could be reduced to one man, Obama and all we have to do is vote him out of office. Its so simple. Sadly our problems are far more complicated. I get a sense on this board that people want to simplify the problem. This will only lead to disappointment later.
Rocketman says:
August 6, 2011 at 3:51 am
@ Jay
When barry is kicked to the curb in 2012 and President Perry is in the white house, then and only then will business people have confidence in the government. Until then, we are all fucked
Business will have confidence when demand increases. Demand will increase when jobs are created. The President is a minor player in all this. We are going downhill and all our government can do is make the ride a bit faster or slower. So we should all relax and try to enjoy the trip. Even poor people can find happiness.
My view is if nothing was spent we’d have had a banking collapse
========================================
You are really mis-informed…
Where? At the foreign banks
QE2 money went to foreign banks…that was all Team Obama and Geithner
Courtesy of the recently declassified Fed discount window documents, we now know that the biggest beneficiaries of the Fed’s generosity during the peak of the credit crisis were foreign banks, among which was Belgium’s Dexia.
The Fed’s bailout of foreign banks not terminated with the drop in discount window borrowings or the unwind of the Primary Dealer Credit Facility, but that the only beneficiary of the reserves generated were US-based branches of foreign banks (which in turn turned around and funneled the cash back to their domestic branches),
a shocking finding which explains not only why US banks have been unwilling and, far more importantly, unable to lend out these reserves,
but that anyone retaining hopes that with the end of QE2 the reserves that hypothetically had been accumulated at US banks would be flipped to purchase Treasurys, has been dead wrong, therefore making the case for QE3 a done deal.
In summary, instead of doing everything in its power to stimulate reserve, and thus cash, accumulation at domestic (US) banks which would in turn encourage lending to US borrowers,
the Fed has been conducting yet another stealthy foreign bank rescue operation,
which rerouted $600 billion in capital from potential borrowers to insolvent foreign financial institutions in the past 7 months.
QE2 was nothing more (or less) than another European bank rescue operation!
Which brings us to the future Bernanke hearings and possible impeachment.
For if it becomes popular knowledge that the Chairman of the Fed, despite explicit instructions to enforce the trickle down of “printed” dollars to US banks, was only concerned about rescuing foreign banks with the $600 billion in excess cash created out of QE2,
then all political hell is about to break loose,
and not even Democrats will be able to defend Bernanke’s actions to a public furious with the complete inability to procure a loan. Any loan.
Furthermore the data proves beyond a reasonable doubt why there has been no excess lending by US banks to US borrowers: none of the cash ever even made it to US banks!
This also resolves the mystery of the broken money multiplier and why the velocity of money has imploded.
Rob I am not going into a copy and paste dialog with you Rob. I disagree with the analysis you posted. But I do not have the time to respond to it. Global markets are linked together. We had AIG on verge of collapse. American banks would have collapsed. There were American subsidiaries of European banks at risk. Its all linked together. We will have more QEs in the future to delay the inevitable and it does not depend on “Team Obama.” Its not about one man. I thought you objected earlier for suggesting you said that.
I didn’t say one man…douchebag… Team Obama, is more than one person with all his czars… and then there’s Geithner, Bernanke
please learn how to count…
The US dollar has been as weak as it has… since the start of QE 2.
Instead of repricing the EUR to a fair value, somewhere around parity with the USD, this stealthy fund flow from the US to Europe to the tune of $600 billion has likely resulted in an artificial boost in the european currency to the tune of 2000-3000 pips, keeping it far from its fair value of about 1.1 EURUSD.
If this data does not send European (read German) exporters into a blind rage, after the realization that the Fed (most certainly with the complicity of the G7) was willing to sacrifice European economic output in order to plug European bank undercapitalization, then nothing will.
The digital cash generated by the Fed’s computers has long since been spent… a few thousand miles east of the US.
Jay says…”So we should all relax and try to enjoy the trip.”
#######################################
Why not try taking your own advice… and enjoy the ride…
Rob says:
August 6, 2011 at 4:23 am
I didn’t say one man…douchebag… Team Obama, is more than one person with all his czars… and then there’s Geithner, Bernanke
please learn how to count…
Dear Rob
Do you think that insulting me personally is a way to strengthen your arguments. I have not insulted you. Except for the above your comments are well written and intelligent. I may disagree with some points but I would not refer to you as a douchebag or suggest you cannot count.
Buts lets get past all that. Are you saying Team Obama did made all these financial decisions with an evil intent or just incompetence? What was their objective in propping up the banks, European or American?
Rob says:
August 6, 2011 at 4:30 am
Jay says…”So we should all relax and try to enjoy the trip.”
#######################################
Why not try taking your own advice… and enjoy the ride…
I am. I just want others to join me.
What was their objective in propping up the banks, European or American?
#######################################
Try asking Bernanke… Geithner… and wait for it… Team Obama
I just want others to join me.
#####################
Try some fleebag church group… that wants to go to the stars…
Jay there is only one group of people devoted to orchestrating a lower standard of living for the United States: It’s Obama and his Fascist ilk. This is a man caused disaster.
Rob,
I must go now. Its morning in London and I am off to someone’s birthday party.
As for the fleebag church group going to the stars….this is a trip downhill to hell. So you have me going in the wrong direction.
Jay
As for the fleebag church group going to the stars….this is a trip downhill to hell. So you have me going in the wrong direction.
=========================================
Ah yes.. the English do enjoy their anarchy… with biscuits and tea
Sid Vicious would be quite proud of you…
I am an anti-christ
I am an anarchist
Don’t know what I want but
I know how to get it
I wanna destroy the passer by cos I
I wanna BE anarchy!
I am tired of hearing all the excuses form the Obama Administration and I don’t think I am alone. We heard similar excuses during Jimmy Carter’s lame attempt as President. Carter, as clueless as Obama, but without the polish, couldn’t lead us out of an economic down cycle either and his policies made it worse than it had to be. Ditto Obama. It isn’t their obvious lack of leadership that’s at fault, it is the socialist polices they choose to advocate. History tells us socialism never works. Socialism is the perpetual motion machine of civilization.
Fudge him. (Then Michelle will eat him to death.)
BTW, Governor Perry inherited the same “Bush economy” that Obama did.
Everytime I throw an “f”bomb, I change my name. Kinda weasely in that way.
You are all going to be very disappointed if a Tea Party candidate gets elected. That is because we will continue to go downhill. Our problems are beyond solution. So it does not matter who is President.