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THE Sec/o Treasury Tim Geithner Thread (merged)

Discussions about the economic and financial ramifications of PEAK OIL

Re: Geithner: Unemployment Could Go Up Before It Comes Down

Unread postby dissident » Tue 03 Aug 2010, 14:14:56

From the perspective of the deciders a jobless recovery is not such a bad thing. All of the lost jobs in America will be moved to cheaper wage markets such as China and India. Loss of purchasing power by US consumers will be offset by growing middle classes abroad. Welcome to the globalist utopia.
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Re: Geithner: Unemployment Could Go Up Before It Comes Down

Unread postby efarmer » Tue 03 Aug 2010, 15:05:24

We burnt up all the money our ruling class could steal to loan us, what should we expect?
Our poor gentry were forced to liquidate a big chunk of our retirement and savings to keep their institutions and estates intact.

They need to find a place with new consumers, where they can't possibly control the government and banks and screw themselves out of customers again.

Now they just need their corporate proxy government to provide them adequate protection from the American peasant, and if the income from China and India is good enough, they may allow themselves to be taxed if it is certain to be applied to protecting them from the great masses of American losers.
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Re: Geithner: Unemployment Could Go Up Before It Comes Down

Unread postby MarkJ » Tue 03 Aug 2010, 16:17:29

$this->bbcode_second_pass_quote('', 'G')eithner told "Good Morning America's" George Stephanopoulos in an exclusive interview. "But what we expect to see, and I think most forecasters expect this…is an economy that's gradually healing, gradually strengthening, businesses starting to add people back."


Unfortunately, many businesses won't be hiring since profits are up substantially from job cuts.

Firms Wringing Huge Profits From Job Cuts

http://www.stltoday.com/business/articl ... 2bc8b.html
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Geithner Visited Jon Stewart in April

Unread postby mattduke » Sat 06 Nov 2010, 17:36:30

$this->bbcode_second_pass_quote('', 'I')n the midst of debates on financial regulation and China’s currency in April, Treasury Secretary Timothy F. Geithner sat down to discuss the U.S. economy -- with comedian Jon Stewart.

Geithner and Stewart, host of Comedy Central’s “The Daily Show,” held an off-the-record meeting at Stewart’s office in New York on April 2, according to Geithner’s appointments calendar, updated through August on Treasury’s website.

Geithner didn’t stay for a television interview with Stewart although other administration officials -- most notably President Barack Obama last week -- have turned up for on-camera chats.

I don't think it's news to anyone that Jon Stewart is an important part of the Democrat's Ministry of Truth.
http://www.bloomberg.com/news/2010-11-0 ... omedy.html
Last edited by Ferretlover on Wed 03 Aug 2011, 16:56:58, edited 1 time in total.
Reason: Merged thread.
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Geithner warns that more bailouts may be needed

Unread postby Sixstrings » Fri 14 Jan 2011, 09:44:22

$this->bbcode_second_pass_quote('', 'S')AN FRANCISCO (MarketWatch) — Treasury Secretary Timothy Geithner warned that the U.S. government may have to take control of major financial institutions again if there’s a crisis as big as the last one, according to a report released Thursday by a group overseeing the Troubled Asset Relief Program.

We may have to do exceptional things again if we face a shock that large,” Geithner told the Office of the Special Inspector General for TARP in December.

(snip) SIGTARP commended Geithner for his candor, but the group also said the Treasury secretary’s comments highlight that TARP has left a legacy of “moral hazard associated with the continued existence of institutions that. remain ‘too big to fail.’”

“It also serves as a reminder that the ultimate cost of bailing out Citigroup and the other ‘too big to fail’ institutions will remain unknown until the next financial crisis occurs,” SIGTARP added in its report.
http://www.marketwatch.com/story/geithner-warns-of-future-bailouts-2011-01-13

It occurs to me that maybe some folks don't know what this "moral hazard" stuff means. As I understand it, it just means we've become dislocated from the underlying fundamentals of basic capitalism. Businesses that fail should be allowed to fail because they were doing something WRONG -- if you don't allow them to fail, then a business that gets it right can never rise.

It's more complex with the financial sector of course.. but the fundamental basics of capitalism still apply.

Seems to me we're headed for Chinese style communist state capitalism.
Last edited by Ferretlover on Wed 03 Aug 2011, 16:51:30, edited 1 time in total.
Reason: Merged thread.
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Re: Geithner warns that more bailouts may be needed

Unread postby SeaGypsy » Fri 14 Jan 2011, 10:50:53

In the not too distant future, that will start looking not too bad.
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Re: Geithner warns that more bailouts may be needed

Unread postby Timo » Fri 14 Jan 2011, 11:43:31

NO!!!! We can't let evolution dictate who does and who does not survive on this planet!!! Capitalism, Schmapitalism! Wall Street controls the whole history of evolution! Eff Darwin!
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Re: Geithner warns that more bailouts may be needed

Unread postby pup55 » Fri 14 Jan 2011, 12:17:15

$this->bbcode_second_pass_quote('', 'T')reasury Secretary Timothy Geithner warned that the U.S. government may have to take control of major financial institutions again if there’s a crisis as big as the last one


Silly Humans....

What no one is saying, but what is 100 percent true, is that no one knows what anything is worth in the country right now... starting with B of A....

Nothing has been done to stop the bleeding since 2008. All of the 3.1 million houses that are in various stages of foreclosure right now are on some bank's books in the form of an asset.... meaning that they supposedly have some value in the marketplace, when it is abundantly clear that they do not....no one will buy them....and the house on either side of it that is still occupied, with the loan that is still "performing" also has no value.....

All of the bailout money paid thus far has vanished into the system to prop it up.... but has done nothing whatsoever to solve the problem or even put a tourniquet on the problem. The whole thing is surviving on faith, and faith alone.... because it is easier to imagine the system functioning than it is to imagine the effect of the inevitable revaluation.
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Re: Geithner warns that more bailouts may be needed

Unread postby Timo » Fri 14 Jan 2011, 12:42:48

Just wait until the rest of the world abandons the dollar as the standard currency for international trade. Dollars will become worthless, and the Treasury is currently printing trillions of worthless dollars as we read this crap. We're the only country on earth that can print as much of the international currency as we want. It won't be too long before the end of our reign as the world market leader is turned on its head.

As i've said before, i'm not religious at all, even though my dad was a minister. That said, i actually think living on a kibbutz (sp?) sounds entirely worthwhile.
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