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Oh oh Timmy is out of bullets.

Started by Riversider
about 16 years ago
Posts: 13572
Member since: Apr 2009
Discussion about
http://www.bloomberg.com/apps/news?pid=20601087&sid=a8X53na5R9Vg This cracks me, up. Timmy is like that boy who knows he has to clean up his room, but can only answer, "YEA. MOM, I'LL GET AROUND TO IT. MAYBE AFTER BASEBALL" Oct. 3 (Bloomberg) -- Treasury Secretary Timothy Geithner said it’s “very important” for the U.S. to have a strong dollar and pledged to preserve its role as world currency. Geithner pledged that the U.S. would live up to its promises to “bring our broad fiscal imbalances back to a sustainable position” as soon as economic recovery is assured.
Response by Riversider
about 16 years ago
Posts: 13572
Member since: Apr 2009

http://www.businessinsider.com/geithner-were-doing-everything-we-can-to-keep-the-dollar-strong-2009-10

A few months ago, when Tim Geithner was on a bond-selling trip to China, he pledged that the US would repay the Chinese in full, prompting howls of laughter from the university in attendance at his speech.

the foreign central bankers know that Geithner is writing a check he can't credibly cash. It's not under his ability to get deficits under control. With our broken down political system, and an inability to make hard choices, nobody has the power.

We can always hope, of course, but then we've heard that isn't really much of a strategy.

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