continuing on with the economy...
Andrew Sullivan has an insightful post about the Treasury Department's big idea to save the banks - and how Geithner does not inspire much confidence in the markets. I think its becoming obvious that Tim Geithner may go down as Obama's worst cabinet appointee - just one look at the man makes me nervous.
Let's get this foreign thing going...first a cool $900 million to Egypt for window dressing; why does a bankrupt country give away money that it has to continually borrow ($2.5 billion daily) to a country that is as neutral as Switzerland when it comes to standing up for its brethren, hmmm, this sort of looks like landing rights payment as the last regime (Bush II) used up their welcome. As long as we are on the ground in the ME, let’s me continue pulling the Iran-is-Nuker card off the bottom of my deck until one hardly notices my Israeli memory lapse towards recent Palestinian cleansing and purging. She should be made to watch “Paradise Now” until she can no longer utter the words “ you know…” and all the misplaced logic that comes from past and now present foreign policy. This is just dress rehearsal for more US policy of “do what ever –go where ever-kill whom ever” we actually as nation could care less, that is so evident when these principals meet up.
ReplyDeleteAlong to Geithner, are you kidding? This is a banker’s banker running things now at US Treasury. There will be no solutions here, no improvement from the last Gov Sachs straw man. While you the widgets fret about stimuli, he is made busy with the daunting task of propping up more zombie institutions with still more future receipts, this time from your grandchildren, that can never ever be paid back. HA! And if that’s not appalling enough then Obama and Bernanke are of the mind that all that needs to happen is returns to bubble economic AKA borrow, spend and never pay back. Same sick thing, different day. Other than that, how ya doing?
Hahahahah. I'm good Dad. Waiting to hear more from you on your piece you forwarded to me a few weeks back.
ReplyDeleteWhat happens if we just repudiate all of the debt and decide to pay any of it back, is that even possible?
and decide NOT to pay any of it back I meant
ReplyDeleteand I strongly disagree with your pessimism about foreign policy. Yes, shady stuff goes down in the middle east, yes, Israel gets a free pass on atrocities they've committed, BUT, we have to do our best and have just a little faith in the system (give it a try dad, just for a day) and hope Hillary/Obama will do well. Is she better than Condi? Hell yes she is. Are Mitchell and Holbrooke smart policy negotiators? Yes I think so. So let's give them the benefit of the doubt for a bit, its not as if Iran is NOT dangerous - they are, I don't think there is any refuting that.
ReplyDeleteand once more...Richard Holbrooke will be more apt to bomb Iran than Cheney... Israel continues expanding settlements land grab style, no one looks or cares. Watched two dem US senators on World View (highly recommend) early today discuss their return from Gaza and showed recent carnage photos no one would believe one human being would level on another, fell on deft ears. As Senator Brian Baird(WA State)said the settlements were expanding at a rapid clip, support for following the road map in Congress was bleak. Sometimes reality is misunderstood for pessimism and for that... sorry but I have been at this a while and it never changes. The Clintons are a lock for Israel; I see no level playing field there. George Mitchell and baseball/steroids, I remember this was cover while Israel pelted Lebanon summer before last. It's funny how this state is concerned about the revenge they someday feel they must receive and yet they continue pushing their neighbors into cantons on reservations shrouded with razor ribbon and endless checkpoints and bomb hospitals and destroy Palestinian schools …on and on into the universe, sorry but it’s pent up.
ReplyDeleteand now a word from disgruntled taxpayers tired of being bilked by their central bank through the Treasuries back door. It was not until I digested Paulson’s plan that skimmed $35 billion to counterparties (read $20billion to GSachs alone) during the original AIG bailout that cost us $85 billion when contracts on the CDS got bought out at par, did a thought occur to me. We can stop this colossal drain of future wealth that is obviously going to bail out wrong way bets that never could be paid back anyways by simply removing all deposits from US banks. Yes, that’s right; the only tool we have left is the “bank run”. This goes a long way in forcing Geithner to do what he should be doing as he works for the citizens of the US, not bankers, and that is to close insolvent banks, now! People Power will put these zombies exactly where they belong, and after a few bad years we would emerge anew with safe banks, under new management, we don’t have to stay up at night worrying about this anymore. Paying back once unthinkable dosages of stimulous remains, though, thanks Obama. http://us1.institutionalriskanalytics.com/pub/IRAMain.asp
70million Iranians might refute you on that one. Nice people, and honest banks, too.
ReplyDeleteWhat happens if we just repudiate all of the debt and decide NOT to pay any of it back , is that even possible?
ReplyDeleteThat is exactly what debauching our currency is doing.