Posts in "Geithner"

Bonnie Kristian's picture
By Bonnie Kristian at 12:08PM

Obama's Excuses Are Starting to Wear Thin

From the YAL Twitter comes a link to this article, which notes that roughly ten months after taking office, the Obama administration still regularly resorts to blaming its predecessor for the country's economic woes.

This sort of blame shifting is hardly surprising in politics in general, let alone the modern politics of blatant irresponsibility (AHEM -- for very different reasons -- Mssrs. Sanford and Bernanke), but what is a little odd is how well the White House is getting away with it:

They inherited the worst economy since the Great Depression, or the economy turned out to be worse than they thought. Which is it? It can't be both -- unless your brain is completely addled by the Obama charisma.

Which indeed?  I'd say that it can be both, but would add  that that conclusion does neither Obama or Bush 2 any favors.  It's true that Obama inherited an awful economy because of years of horrific monetary and fiscal policy, but it's also true that it turned out worse than predicted because...well...because he continued the exact same horrific monetary and fiscal policies.


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Drew Smith's picture
By Andrew Smith at 6:35AM

Obama Says, "No guarantee taxes won't go up."

Obama says, "No guarantee taxes won't go up." Translation: taxes are going to go up, and not just the upper class anymore.  No, now the MIDDLE class is going to have its own share of tax increases. Even though he said here that he wouldn't raise them. 

Doublethink and doublespeak anybody?

Silly Obama Tricks Are For Kids


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Bonnie Kristian's picture
By Bonnie Kristian at 7:25PM

Geithner Announces End of Depression

...or at least said that "he saw signs of confidence returning to the U.S. financial sector and pledged that the United States would pursue policies that preserve the dollar's value." 

Indeed, with stunning economic acuity and even better grammar, Secretary Treasury Timothy Geithner stated yesterday that the "policies of the United States are designed to lay the conditions for a strong dollar for more stability in the international monetary system and among the major economies." 

Never mind that one does not typically "lay" conditions.  The more important point here is that Geithner is arguing that the dollar is strong while it is trading low and the (fiat) monetary base has nearly doubled (and that was in March!).

Read more on Geithner's statement here, and check out Joseph Keckeissen on "Why the Crisis Hasn't Ended" in the Mises Daily here.


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Bonnie Kristian's picture
By Bonnie Kristian at 5:39PM

US To Trade Gold for Cash at Cash4Gold

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Jeff Hubbard's picture
By Jeffrey Hubbard at 5:13PM

Treasury Secretary Geithner Can't Sell Home

Mr. Geithner is gaining real world experience of the housing bubble. In 2004, Mr. Geithner paid 1.6 million after a heated "bidding war" and has been unable to sell his home since being tapped by the Obama administration.
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Bonnie Kristian's picture
By Bonnie Kristian at 8:01PM
Bonnie Kristian's picture
By Bonnie Kristian at 9:07PM
contributor's picture
By contributor at 6:49PM

Are Geithner and Bernanke Asking Congress for a Bonus?

Usually when you have a significant portion of the nation calling for you to be tarred and feathered as a direct result of your actions, you tend to lie low and let things work themselves out, or you hope that another larger crisis comes along to divert people's attention.
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