Timothy Geithner told the world today that he would stay on as head of the United States Treasury and the world responded with a collective downturn. He is the worst person in the world (h/t to Keith Olbermann, if you don’t know who he is, don’t worry most don’t) and has been since his choice to head up Treasury. The man is a tax cheat first off, that should have negated him from heading up an agency that should be watching every dollar, not spending every dollar. He recently hit all the Sunday shows to beg for more, not some more, 2.4T more for his boss Barack Hussein Obama, who has turned this Country into a third world Country. These two children who have never earned a dime outside of being paid by tax dollars have taken an economy that if left alone, no government intervention, no thousands of regulations, no Obamacare would have turned around and been humming along with everyone from the bottom up enjoying prosperity and destroyed it. Obamaville Is Alive And Well And Taking The Last Of Your Savings Down The Drain
Across town at the Federal Reserve, central bankers are boxed in as well, having admitted that the previous round of quantitative easing didn’t egg the economy on (though since QE2 ended, conditions seem to have gotten worse), and that a new round would likely boost inflation more than growth.
In Europe, leaders always wait to the absolute last minute to apply a new bandage to whatever wound springs forth. Heck, many of them are still at the beach, while the crisis spreads from the likes of Greece and Ireland to the major economies of Spain and Italy.
Jean-Claude Trichet, the president of the European Central Bank, is spending his final months in office with a juggling act of buying up more peripheral bonds even as he’s laying the groundwork for one additional rate rise. Critics, for their part, say the new European Financial Stability Facility isn’t large or flexible enough to scare the bond vigilantes away from Italy and Spain. On the national level, policy makers are only slowly awakening from their slumber of what’s basically been a decade of stagnation
You cannot spend your way out of a depression, you can only work your way out of one and Obama and his Faculty Lounge Administration are standing in the way of the working public. I used to think the Country could make it to 2012, now I am not so sure and even if we do what in the hell would it look like? These inept, ideological leftist idiots are going to leave one hell of a mess for the next Conservative President to fix.