Will someone please, please, get Tim Geithner away from our Treasury funds?Â Canâ€™t we just send him on a trip with Biden and hope that someone locks him in a closet for the next 17 months?Â Â I donâ€™t wish any serious harm to the man.Â I just want him away from the U.S. Treasury!
Three things have set me off this evening.Â First is thisâ€¦.
Treasury Secretary Timothy Geithner said on Wednesday that Congress will allow the country to borrow more by agreeing to increase the $14.3 trillion debt limit.
The second is thisâ€¦
Pimco â€œhas been selling Treasuries because they have little value within the context of a $75 trillion total debt burden,â€ Gross wrote in the report published on Newport Beach, California-based companyâ€™sÂ website. Congress â€œmust make â€˜debtâ€™ a four-letter word.â€
The third is thisâ€¦
The leaders of the world’s largest emerging economies started a one-day summit in southern China on Thursday, looking for a bigger role in global financial institutions and also welcoming a new member.
Thursday’s summit comes at a crucial moment for the expanded five-member bloc known as the BRICS, which groups Brazil, Russia, India, China, and, for the first time, South Africa.
These five nations (with the exception of maybe Russia) are up-and-coming economies where there is growth and development taking place.Â I have little doubt that they see the handwriting on the wall where the current debt levels and economic future of G-20 nations, including the U.S., are concerned.Â Even our own very successful investors have defined the U.S. government as being a bad financial risk.
Do Mr. Geithner and the current administration really believe that these nations are going to carry a burden of U.S. debt that could put their own economy and their own future at risk?Â Just so progressives and the current administration can have their grand opportunity to join the â€œworld-wide socialists clubâ€?
That isnâ€™t going to happen.Â The leaders of these nations arenâ€™t stupid.Â Anyone who believes that they will take on that much risk is delusional.Â Completely and totally delusional.
Maybe a psych evaluation with doctor-prescribed â€œdown timeâ€ would work as well as the closet???