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Geithner Says Not To Worry About Surging Oil Prices: "Central Banks Have A Lot Of Experience In Managing These Things"

Tyler Durden's picture





 

You really can't make this shit up: "The economy is in a much stronger position to handle” rising oil prices, Tim Geithner said today during a Bloomberg Breakfast in Washington. “Central banks have a lot of experience in managing these things." We are, all of us, now doomed.

Bloomberg's account of one lunatic's daily ramblings in a collapsing world:

U.S. Treasury Secretary Timothy F. Geithner said the economic recovery has put the world on a better footing to withstand the increase in oil prices caused by turmoil in the Middle East.

The economy is in a much stronger position to handle” rising oil prices, Geithner said today during a Bloomberg Breakfast in Washington. “Central banks have a lot of experience in managing these things.”

Political turmoil in Libya, holder of Africa’s largest oil reserves, will add “stagflationary winds” to the global economy, according to Mohamed El-Erian, chief executive officer at Pacific Investment Management Co. Protests in Libya pose more “systemic” risk to the global economy than the upheaval in Egypt and Tunisia, El-Erian said in a Bloomberg Television interview yesterday.

Geithner also said the U.S. financial system is in better shape than before the recession and is able to provide the funding needed for the expansion.

“The core of the American financial system is in a much stronger position than it was before the crisis,” he said. “We’re way ahead of any other major economy.”

And if the confirmation that we have a lunatic in charge was not enough, here is the punchline:

“The economy is gradually getting stronger,” Geithner said today, adding “I wouldn’t get carried away with it.

Don't worry TurboTax, you will get carried away... by a mob of unruly protestors who finally realize that Libya was not an isolated incident.

 

 


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Wed, 02/23/2011 - 12:54 | Link to Comment Harmonious_Diss...
Harmonious_Dissonance's picture

Fortunately my bunker is fully stocked: Silver, Gold, Ammo, Food...

Wed, 02/23/2011 - 13:02 | Link to Comment the mad hatter
the mad hatter's picture

TIMMAY U ARE A FUCKING IDIOT. HOW DO YOU SOLVE A PROBLEM OF SUPPLY WITH A PRINTING PRESS.

WHAT THE FUCK ARE YOU GOING TO DO? PRINT OIL?

 

kleptocracy, amerikan style.

Wed, 02/23/2011 - 13:09 | Link to Comment TomJoad
TomJoad's picture

Why hasn't this dipshit been thrown out of a 40th story window yet?

 

Jump! You Fuckers!

Wed, 02/23/2011 - 13:21 | Link to Comment nope-1004
nope-1004's picture

Benocide said a week ago that "the fears of inflation are largely overstated".

Timmay says today that "inflation can be handled".

Well, which is it?  Do we got none?  Or do we got some?

The idiots stealing US taxpayer money should at least get their story straight before being interrogated in separate rooms.

 

Wed, 02/23/2011 - 13:23 | Link to Comment egdeh orez
egdeh orez's picture

As the silver bears would say: "I just shit myself."

Wed, 02/23/2011 - 13:23 | Link to Comment jus_lite_reading
jus_lite_reading's picture

When they say, "we've got everything under control, don't panic" then you know the end is here. Game over folks. Things are spiraling out of control faster than I can watch with my eyes. Greek, Indian riots are spreading fast now...

Wed, 02/23/2011 - 14:30 | Link to Comment Rick64
Rick64's picture

This is coming from a guy that can't even do his taxes right. Watched all the fraud going on under his nose at the NYF, and said fundamentals were good. I have complete confidence in somebody like that.

Wed, 02/23/2011 - 14:45 | Link to Comment jus_lite_reading
jus_lite_reading's picture

Exactly! Timmay is another puppet.

Wed, 02/23/2011 - 15:53 | Link to Comment boricuadigm-shift
boricuadigm-shift's picture

We can no longer say: "when the shit hits the fan".  The shit IS hitting the fan!

 

Brace yourself for impact.  From Jesse today:

"Hell is truly the inability to feel love, empathy, and compassion, knowing the price of everything, but the value of nothing.

Strange days, I am sad to say. Change is in the wind, and is starting to blow like a hurricane, as cycles come round again."

 

Wed, 02/23/2011 - 15:30 | Link to Comment PuppetRepubl1c
PuppetRepubl1c's picture

+1

Wed, 02/23/2011 - 14:54 | Link to Comment Cleanclog
Cleanclog's picture

“The core of the American financial system is in a much stronger position than it was before the crisis,” he said. “We’re way ahead of any other major economy.”

Such an incredible f-ing LIE!  

Wed, 02/23/2011 - 15:10 | Link to Comment Harmonious_Diss...
Harmonious_Dissonance's picture

Agreed! Like when asked if his QE2 is causing global foodstuffs inflation Ben said: "I'm not sure I agree with your premise" same thing he said about housing price decline question on CNBS in 2006.

Wed, 02/23/2011 - 15:00 | Link to Comment malikai
malikai's picture

Unrest => Oil shock => recession => less demand

High inflation => Raise rates => recession = less demand

Wash, Rinse, repeat.

Looks like round2 of the peak oil downward cycle. First is was peak demand, now it's perhaps peak exports, next maybe geological peak. There can be no printing out of this one.

Wildcards: Europe's 90ish day crude reserve, US's SPR, etc. They can and probably will be used to control the price during the shocks. Rationing/Driving controls are also quite possible. All you cats around in the early seventies could probably tell a little about how it may go down.

Wed, 02/23/2011 - 23:43 | Link to Comment ceilidh_trail
ceilidh_trail's picture

even plate numbers fill one day, the odd number plates fill on the others (at least that's how it was done on long island)

Wed, 02/23/2011 - 23:58 | Link to Comment StychoKiller
StychoKiller's picture

The Geithner has some shoe-catchin' in his future...

Wed, 02/23/2011 - 13:18 | Link to Comment Chasecran
Chasecran's picture

"FIAT"=  "Fix It Again Timmy"

Wed, 02/23/2011 - 13:25 | Link to Comment unwashedmass
unwashedmass's picture

warms my heart to know Timmay has taken care of his friends and they don't have to worry....of course, me, one of the peasants,

i'm fucked.

not that this matters to anyone in the power elite. the only good peasant is a dead peasant, right?

Wed, 02/23/2011 - 13:58 | Link to Comment poor fella
poor fella's picture

Tastes like chicken...

Wed, 02/23/2011 - 15:01 | Link to Comment Harmonious_Diss...
Harmonious_Dissonance's picture

Soylent peasant

Wed, 02/23/2011 - 13:34 | Link to Comment Beatscape
Beatscape's picture

+1

Wed, 02/23/2011 - 13:48 | Link to Comment jus_lite_reading
jus_lite_reading's picture

WEST TEXAS NOW AT $100!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! Hold on boys!

The ride has just begun!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

 

Wed, 02/23/2011 - 13:23 | Link to Comment trav7777
trav7777's picture

yeah, total LOL at the economists thinking their paper bullshit can "manage" the oil supply.  WTF, they're going to print up some production for us?

I can't completely castigate them, because before the production peak, lowered rates = more activity = more supply.  In a rough sense, the money supply over the previous century did throttle economic activity and oil production in a rough way.  This led idiot banker/economists to believe that they were really controlling the levers of everything.

What they forgot is that economies grew independent of CBs before said existed in various countries, on the back of energy supply growth.  Banking is really parasitism that inhibited growth a little or a lot depending upon what they did, but the aggregate supply of energy to do the doing was the driver of the macro trend.

Wed, 02/23/2011 - 16:19 | Link to Comment i.knoknot
i.knoknot's picture

i believe for short periods 'they' can manage perception, and for shorter, prop certain market sectors...

but when somebody actually wants delivery of a few barrels of oil, oz -s of silver, or bushels of wheat/rice...

wheeee wheee wheee, all the way home.

Wed, 02/23/2011 - 13:31 | Link to Comment Eyedroppedthewater
Eyedroppedthewater's picture

+1  

 

Wed, 02/23/2011 - 13:34 | Link to Comment PAPA ROACH
PAPA ROACH's picture

LOL, you sir have the comment of the year..........so far!  Fell out of my chair.

Wed, 02/23/2011 - 13:38 | Link to Comment Alienated Serf
Alienated Serf's picture

BUT YOU CAN'T EAT OIL!@!@#!!!!

*disclaimer: this is not an actual assertion that oil is unrelated to food, I am well aware of the petroleum inputs of fertilizer and transportation among others.

Wed, 02/23/2011 - 14:46 | Link to Comment batting500
batting500's picture

"Print Oil"

 

+1

 

Good luck

Wed, 02/23/2011 - 15:15 | Link to Comment Problem Is
Problem Is's picture

"WHAT THE FUCK ARE YOU GOING TO DO? PRINT OIL?"

I am still laughing. That is fucking hilarious...

Note to Tyler: Quote of the day...

Wed, 02/23/2011 - 22:10 | Link to Comment Quaderratic Probing
Quaderratic Probing's picture

   Just change these numbers to ones that work presto chango no more problem

 ( The secret is it's done by milking Unicorns who as you know produce oil )

 

 

U.S. Net Imports of Crude Oil and Petroleum Products (Thousand Barrels per Day)   Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec   1973 5,646 6,246 6,386 5,318 5,604 5,675 5,938 6,373 6,168 6,411 6,720 5,828   1974 5,164 5,013 5,078 5,736 6,247 6,122 6,283 6,114 5,881 5,954 6,612 6,436     1975 6,633 5,928 5,517 4,850 5,012 5,182 5,773 6,095 6,599 6,142 6,253 6,164   1976 6,558 6,471 6,502 6,373 6,144 7,262 7,641 7,162 7,728 7,338 7,712 8,168   1977 8,711 9,763 9,176 8,499 8,283 8,712 8,842 8,345 8,273 8,109 7,900 8,251   1978 8,076 7,911 8,232 7,406 7,218 7,709 7,947 7,881 8,559 7,845 8,443 8,786   1979 8,756 8,105 8,150 7,400 7,662 7,859 8,072 8,124 7,609 8,263 7,631 8,157     1980 8,048 7,386 6,879 6,672 5,987 6,240 5,727 5,873 5,682 5,781 5,859 6,272   1981 6,270 6,203 5,442 5,098 5,180 5,015 5,245 5,123 5,845 5,221 5,041 5,187   1982 4,502 4,003 3,602 3,593 4,008 4,624 5,149 4,386 4,624 4,374 4,958 3,746   1983 3,464 2,861 2,889 3,918 4,241 4,552 5,170 5,496 5,445 4,682 4,531 4,394   1984 4,855 5,111 4,461 4,717 5,212 4,618 4,871 4,312 4,588 5,179 4,733 3,947     1985 3,623 3,056 3,979 4,553 5,071 4,237 4,274 3,969 4,164 4,431 5,080 4,905   1986 4,714 3,800 3,980 4,589 5,676 6,206 6,256 6,300 6,375 5,597 5,771 5,881   1987 5,650 5,007 5,074 5,041 5,407 6,099 6,908 6,790 6,382 6,422 6,331 5,776   1988 6,296 6,392 6,110 6,594 6,655 6,301 6,471 6,572 6,833 7,098 6,997 6,719   1989 7,494 7,157 6,596 7,268 6,986 7,002 7,589 7,593 7,347 7,511 7,366 6,512     1990 8,488 7,577 7,084 7,097 8,144 7,944 8,353 7,794 6,514 5,768 5,918 5,252   1991 5,904 5,424 5,702 6,680 7,369 7,323 6,793 7,832 7,042 6,550 6,690 6,124   1992 6,568 5,975 6,156 7,155 6,939 6,989 7,550 7,470 7,330 7,603 6,877 6,602   1993 6,869 6,915 7,315 7,701 7,581 7,905 8,218 7,600 7,629 8,316 7,923 7,394   1994 7,066 7,657 7,638 8,100 8,284 8,438 8,902 8,597 8,802 7,791 7,707 7,655     1995 7,037 7,283 8,059 7,467 7,832 8,639 7,969 8,240 8,930 7,615 8,072 7,477   1996 8,294 7,342 8,225 8,453 9,116 9,043 8,876 9,090 8,038 8,792 8,220 8,404   1997 8,725 8,544 8,900 9,177 9,941 9,782 8,996 9,390 9,540 9,726 9,014 8,130   1998 8,994 8,988 9,087 10,057 10,051 9,939 10,651 10,252 9,636 10,011 10,078 9,365   1999 9,529 9,894 9,894 10,422 10,596 10,253 10,779 10,240 9,768 9,651 9,083 8,835     2000 9,134 10,133 9,893 10,427 10,559 11,107 10,688 11,099 10,841 9,998 10,201 10,958   2001 11,601 10,639 11,194 11,711 11,461 10,756 10,881 10,573 10,993 10,432 10,669 9,885   2002 10,228 9,729 10,345 10,876 10,859 10,873 10,785 10,752 10,059 10,931 11,242 9,828   2003 9,892 9,854 10,993 11,546 11,822 11,936 11,760 11,822 11,908 11,402 10,780 11,043   2004 11,266 11,612 12,325 11,730 12,323 12,491 12,490 12,598 11,715 12,360 12,417 11,804     2005 12,074 12,493 11,921 12,147 12,626 12,793 12,666 12,552 12,385 13,354 13,135 12,442   2006 12,737 12,289 11,734 12,039 12,965 12,918 12,596 13,442 12,937 11,810 11,651 11,556   2007 12,260 10,823 12,682 12,482 12,764 12,222 12,248 12,151 12,285 11,655 11,421 11,327   2008 11,949 10,812 10,791 11,593 11,109 11,252 11,073 11,064 10,239 11,545 11,160 10,751   2009 11,205 10,287 10,609 10,061 9,461 9,973 9,482 9,064 9,651 8,655 9,076 8,538     2010 9,352 9,136 9,480 10,119 9,731 10,066 10,123 9,973 9,519 8,692 8,542  

 

Wed, 02/23/2011 - 13:32 | Link to Comment treasurefish
treasurefish's picture

Not yet!  I haven't had a chance to purchase the rifles I wanted!  

Maybe Geitner is referring to a new QEIII round?  We can prop this market for ever.  Stocks never go down!

Wed, 02/23/2011 - 13:39 | Link to Comment Harmonious_Diss...
Harmonious_Dissonance's picture

The central bankers can just OOZE the oil, no problem here folks:

http://www.youtube.com/watch?v=6bu-U4HX5aQ

Wed, 02/23/2011 - 13:57 | Link to Comment ColonelCooper
ColonelCooper's picture

"Not yet!  I haven't had a chance to purchase the rifles I wanted! "

The Colonel finds that somewhat like saying, "I never got all the gold I wanted", or "I haven't slept with all the women I wanted", or "I never snorted all the blow I wanted".

Guns, money, women, drugs, did I miss anything?

 

 

Wed, 02/23/2011 - 14:10 | Link to Comment Vacca
Vacca's picture

Rock and roll?

Thu, 02/24/2011 - 00:01 | Link to Comment StychoKiller
StychoKiller's picture

Booze?

Wed, 02/23/2011 - 13:46 | Link to Comment WALLST8MY8BALL
WALLST8MY8BALL's picture

Please remain calm
Please remain calm

It's hard to tell the difference of a prophet from a crackpot
I wouldn't blame you if you'd rather stay in bed
We'd go smilin', we'd go down smilin'
Dancin' to the beat of a mother coming down, take it

Please remain calm
Please remain calm
Calm

This is a test of the emergency broadcasting system
This is a test, this is only a test
You can stand single file, put your head between your legs
You can stop drop and roll 'cause this is only a test, kick it

Wed, 02/23/2011 - 14:06 | Link to Comment EvlTheCat
EvlTheCat's picture
Timmy And The Lords Of The Underworld

http://www.youtube.com/watch?v=dkKP9_uo25A&feature=related

 

This explains a lot about how Geithner makes decisions.

Wed, 02/23/2011 - 14:19 | Link to Comment Downtoolong
Downtoolong's picture

Don't forget to fill up the gas tanks in your cars while you're at it, before these higher crude prices roll through to the pump. It may be the best return on investment anyone can make this week. $4/gal gasoline now on the horizon. 

 

 

Wed, 02/23/2011 - 16:31 | Link to Comment Ms. Erable
Ms. Erable's picture

Did just that on the way to the office this morning as I was thinking the same thing. ~$95 to fill the tank is probably the lowest amount I'll have to pay for the forseeable future. I did notice that the gas station had raised the price by .08 over night.

Yes, over night. As in one day.

Now I just need to remember to get another 50lb. bag of rice and a box of primers on the way home...

Wed, 02/23/2011 - 14:21 | Link to Comment Downtoolong
Downtoolong's picture

Don't forget to fill up the gas tanks in your cars while you're at it, before these higher crude prices roll through to the pump. It may be the best return on investment anyone can make this week. $4/gal gasoline now on the horizon. 

 

 

Wed, 02/23/2011 - 14:30 | Link to Comment Triggernometry
Triggernometry's picture

Don't forget water, medicine, and toilet paper. Yes toilet paper; think of what it would be like to go just one week without it, then think of the space one year's supply of toilet paper for one person takes up.

As for you bunker, while I appreciate you seem to be among the few actually preparing for the shit storm to come, unless what you call a bunker is actually a hardened structure(and good opsec will prevent you from disclosing such details) then you would do well to invest in portable survival resources.

Sure you could have one ton of lead(ammo) to protect one hundred pounds of gold and silver, but consider how long just one ton of water will last one person and that "bunker" starts to feel like a tomb.

Wed, 02/23/2011 - 14:59 | Link to Comment Harmonious_Diss...
Harmonious_Dissonance's picture

Prepared with all the items you describe. But, yes, you are correct that the bunker is short term solution only. Wait out the initial nightmare and then re-locate once the sheep have long since turned cannibal & the herd has become thinned to non-existant. Where to re-locate to is what no-one can prepare for.

http://www.youtube.com/watch?v=Hgq4w4dqKsU

Wed, 02/23/2011 - 16:46 | Link to Comment 1100-TACTICAL-12
1100-TACTICAL-12's picture

And these are the people running the show...WASF....

Wed, 02/23/2011 - 12:54 | Link to Comment plocequ1
plocequ1's picture

Im doomed. Youre doomed, Were all doomed. Now go home and get your shinebox

Wed, 02/23/2011 - 13:29 | Link to Comment razorthin
razorthin's picture

...

Wed, 02/23/2011 - 13:33 | Link to Comment razorthin
razorthin's picture

I'll be stopping by Mom's later to grab a knife.  I hit a deer and his...what do you call it...yeah, hoof caught in the grill, and I need to hack it off.

Wed, 02/23/2011 - 12:54 | Link to Comment pazmaker
pazmaker's picture

What a dipshit this guy is!   UNBELIEVABLE!

Wed, 02/23/2011 - 13:00 | Link to Comment Turd Ferguson
Turd Ferguson's picture

What a complete, fucking douchebag.

Wed, 02/23/2011 - 13:14 | Link to Comment Id fight Gandhi
Id fight Gandhi's picture

Fucking cock suckers. Sure we can all aftord $100 fill ups

Wed, 02/23/2011 - 13:34 | Link to Comment Herman Strandsc...
Herman Strandschnecke's picture

 No need for fill ups. We don't need no oil, we shall grease the cogs of our solar cars with goose fat.

 

Herman Strand Schnecke

Wed, 02/23/2011 - 13:59 | Link to Comment ColonelCooper
ColonelCooper's picture

$188 into pickup this morning.  Nice.

Wed, 02/23/2011 - 13:19 | Link to Comment Chris Jusset
Chris Jusset's picture

Up until now, I always thought that Bernanke was the absolute pinnacle of stupidity.  Apparently, Geithner is a strong contender for that coveted distinction.  We are all absolutely, totally, completely doomed. 

Wed, 02/23/2011 - 13:35 | Link to Comment traderjoe
traderjoe's picture

The Bernank is a tool/shill of the banking cartel. He was selected because he would do their bidding - print and prolong their failure for as long as possible. His articles and books - likely written in academic earnest - earned him the job. My sense is he now - on some level - understands the way things really work, but it is too late for him to recant or go back. He is painted into a corner and will print and ZIRP4EVER. 

Turbo Timmy might have been selected because he was stupid, and would therefore be an easy shill to sway back and forth. What better person to have run the Treasury/IRS then a tax cheat?

What this speech tells me - is that they will continue to floor the accelerator. High oil prices help the ME regimes get their petrodollars. Who knows, it may even serve the MIC to launch some other proxy move. But, we will print, print, print all the way over the cliff...

Wed, 02/23/2011 - 14:00 | Link to Comment Chris Jusset
Chris Jusset's picture

TraderJoe says:

He is painted into a corner and will print and ZIRP4EVER.

I agree.  Did you know that Ben's license plate reads QE4EVER ... ?  (ZIRP4EVER was too long for a license plate).

Wed, 02/23/2011 - 15:18 | Link to Comment Problem Is
Problem Is's picture

"I always thought that Bernanke was the absolute pinnacle of stupidity.  Apparently, Geithner is a strong contender..."

The successful upward career path of the useful idiot...

Wed, 02/23/2011 - 13:36 | Link to Comment dearth vader
dearth vader's picture

Now wait, this Jeethner clown is right on all counts.

The economy can handle rising oil prices better, because so many people - over 20% - are unemployed, and 1 in 7 of Americans are on SNAP. Those will be priced out of the market for gas and heating oil and the need for imports will fall substantially. Check.

What's more, "... the U.S. financial system is in better shape than before the recession and is able to provide the funding needed for the expansion." Of course! Funding never was a problem, and expansion is just around the corner, as every other economy will beg for ever more dollars to buy the ever more expensive oil. Europe and China will fall by the roadside, as the American bankster class will soar heavenward in a cloud of pixie dust. Check.

Not long before Obama will don a djellaba, Gadhaffi style, and address the American people about change they can believe in, if they had any choice.

Wed, 02/23/2011 - 12:55 | Link to Comment reader2010
reader2010's picture

If my memory is correct, this motherfucker has a college degree in the Far East Studies. No wonder.

Wed, 02/23/2011 - 12:54 | Link to Comment koeleköpke
koeleköpke's picture

the Bernank will simply print the oil

Wed, 02/23/2011 - 13:07 | Link to Comment Scoutster
Scoutster's picture

Lol~

These sobs have screwed us all!

I think they'll figure out how to profit even in widespread protests.

Wed, 02/23/2011 - 13:51 | Link to Comment WALLST8MY8BALL
Wed, 02/23/2011 - 12:56 | Link to Comment MarketTruth
MarketTruth's picture

And these are the idiots in charge of the money distribution/supply, national debt, etc.

Got physical gold/silver?

Wed, 02/23/2011 - 12:56 | Link to Comment miker
miker's picture

The day is coming soon, where no matter what they say, no one will pay attention.

Wed, 02/23/2011 - 12:56 | Link to Comment AndrewJackson
AndrewJackson's picture

When they say don't panick, you know its time to panick....

Wed, 02/23/2011 - 13:14 | Link to Comment nabi
nabi's picture

Is anyone paying attention now?

Wed, 02/23/2011 - 13:35 | Link to Comment Id fight Gandhi
Id fight Gandhi's picture

Doubt it. Didn't Justin bierber get a hair cut?

When the gas is up .20 at the pump next week and they won't honor kfc coupons the riots will begin

Wed, 02/23/2011 - 13:46 | Link to Comment Id fight Gandhi
Id fight Gandhi's picture

Dupe

Wed, 02/23/2011 - 12:56 | Link to Comment notadouche
notadouche's picture

If Timah is not worried then we should all sit back and relax and buy those second homes as the Central Banks are on the case.  I feel a lot better now.

Wed, 02/23/2011 - 12:55 | Link to Comment gall batter
gall batter's picture

the thinking is:  if we build it, they will come.  

Wed, 02/23/2011 - 12:55 | Link to Comment DarkMath
DarkMath's picture

Tiny Tim reminds me of Little Bo Peep

Wed, 02/23/2011 - 12:55 | Link to Comment buzzsaw99
Wed, 02/23/2011 - 14:18 | Link to Comment EvlTheCat
EvlTheCat's picture

Mental note, don't use Geithner as fish bait....

Wed, 02/23/2011 - 12:55 | Link to Comment SpeakerFTD
SpeakerFTD's picture

I keep thinking of that scene from Naked Gun where the police officer is standing in front of a blazing fireworks factory with a bullhorn:  "Nothing to see here."

Wed, 02/23/2011 - 13:04 | Link to Comment Joe Davola
Joe Davola's picture

http://www.youtube.com/watch?v=zDAmPIq29ro

 

Which one of you is Hobisibo?

Wed, 02/23/2011 - 13:10 | Link to Comment LongSoupLine
LongSoupLine's picture

ask and thou shalt receive : http://www.youtube.com/watch?v=rSjK2Oqrgic

Wed, 02/23/2011 - 12:56 | Link to Comment bayou_plumber
bayou_plumber's picture

I would suggest to double up on the ammo stockpile.

Wed, 02/23/2011 - 12:57 | Link to Comment Chuck Bone
Chuck Bone's picture

Geithner also said the U.S. financial system is in better shape than before the recession and is able to provide the funding needed for the expansion.

Yea, that's because you and your cronies suspended fair value accounting rules, gift them with billions every week in POMO, and have essentially told them that they can take whatever risks they want because they'll be backstopped.

Wed, 02/23/2011 - 12:57 | Link to Comment Sophist Economicus
Sophist Economicus's picture

Classic!   Another clueless 'TPTB'...

Wed, 02/23/2011 - 13:12 | Link to Comment philgramm
philgramm's picture

just a frontman. Not part of TPTB

Wed, 02/23/2011 - 12:57 | Link to Comment Misthos
Misthos's picture

Don't worry, if we experience a meltdown and civil disorder, Canadian Troops have the OK to cross the border to help us out:


Canada, U.S. agree to use each other’s troops in civil emergencies 

Canada and the U.S. have signed an agreement that paves the way for the militaries from either nation to send troops across each other’s borders during an emergency, but some are questioning why the Harper government has kept silent on the deal.

http://fiatcollapse.blogspot.com/2011/02/us-and-canada-agree-on-cross-border.html

 

 

 

Wed, 02/23/2011 - 12:58 | Link to Comment tmosley
tmosley's picture

Reminds me of the movie "Maverick" where they were traveling through the desert in a carriage driven by an old guy.  They thought the old man knew a shortcut, but he had actually had a heart attack and died.  The horses were headed straight for a canyon.

Life imitates art.  Well, sometimes.  Maverick managed to stop the carriage before if went off the cliff.  Probably not going to happen with Helicopter and turbo tax in charge.

Wed, 02/23/2011 - 13:10 | Link to Comment Weisbrot
Weisbrot's picture

but will they route out the korruptiticians?

Wed, 02/23/2011 - 13:14 | Link to Comment Internet Tough Guy
Internet Tough Guy's picture

I for one welcome our tuque-wearing overlords.

Wed, 02/23/2011 - 13:26 | Link to Comment Jim in MN
Jim in MN's picture

Please Lord, don't let the last thing I hear be: "Eat lead......eh"

Wed, 02/23/2011 - 13:29 | Link to Comment JohnG
JohnG's picture

Mounties?

Wed, 02/23/2011 - 13:29 | Link to Comment trav7777
trav7777's picture

oh no...canadian troops.

if they deploy here, it will be to stop a flood of escapees/refugees.

I don't imagine that the cops here will be as "restrained" as those in other nations in the face of protests like we've seen.  In every case so far, our cops have really cracked skulls.  Our riot forces are trained to stop riots, not just stand there looking like guys that stop riots.

Just because the greeks deployed a ton of guys in riot gear does not make them real riot cops.  Watch the G20 footage from Toronto to see how we do it.  Stasi stuff is where the US is still #1.

If Americans are chucking rocks or molotovs, I would expect police snipers.  We have a giant paramilitary who has specialty in no-knock raids, dynamic entries, and a real military that has been doing the same in a very hostile country for nearly 10 years now.  You have to ask yourself what the US public brings to a 'revolution' that the US Army hasn't dealt with in Iraq.

Wed, 02/23/2011 - 15:24 | Link to Comment DaveyJones
DaveyJones's picture

a lot more guns?

Wed, 02/23/2011 - 16:57 | Link to Comment equity_momo
equity_momo's picture

In all honesty , a tiny fraction of American gun owners are prepared to stand up and be counted if there was a descent into civil war. The majority of gun owners would pussy out or fight each other over looting the next door neighbours flat screen. TPTB have done a fantastic job of dumbing down and fattening up Joe 6 Pack. Iraq and Afghanistan will prove to be far harder to tame than middle America (Afghanistan will NEVER be tamed without genocide , pure and simple)

George Orwell has an idea how it ends up for the pampered fags of the developed socialist World (America is a socialist country , has been for a very long time)

Wed, 02/23/2011 - 13:33 | Link to Comment UninterestedObserver
UninterestedObserver's picture

LOL oh no the Canadian army - I bet my neighborhood is better armed

Wed, 02/23/2011 - 16:33 | Link to Comment Ms. Erable
Ms. Erable's picture

I'd take that bet, but it's hard to collect from a corpse. Canucks are and have always been kick-ass troops in the field.

No, I'm not a Canuckistanian.

Wed, 02/23/2011 - 13:35 | Link to Comment ForWhomTheTollBuilds
ForWhomTheTollBuilds's picture

I had occasion to visit a War History museum in Estonia last summer.  The way the Russians took that country was to simply inform the Estonians that because they were obviously too small to defend themselves from outside threats, the Russians would help them out by moving in troops.

 

I suspect Canada will come under US control in the same way.  It's a dangerous world full of expansionist lunitics you know....

Wed, 02/23/2011 - 17:04 | Link to Comment Cathartes Aura
Cathartes Aura's picture

The move toward a North American Union received another big boost last week as President Barack Obama and Canadian Prime Minister Stephen Harper met in Washington, D.C. to hammer out a deal on creating a common “perimeter” around the two countries while diminishing the role of the nations’ shared border and developing a biometric system to track North Americans. The two leaders, touting the plan as a move toward security and prosperity, signed a four-page declaration supposedly committing the two countries to working together on a wide range of issues. According to news reports, the final agreement was the product of many months of work.

http://www.thenewamerican.com/index.php/world-mainmenu-26/north-america-...

. . . the Security & Prosperity Partnership from the Bush years just got another "upgrade" - eh?

Wed, 02/23/2011 - 13:43 | Link to Comment Herman Strandsc...
Herman Strandschnecke's picture

'Any enemy of a friend of mine is also my enemy' or was it ' Any friend of a enemy of mine is my friend' What ever but this is probably the reasoning?

Wed, 02/23/2011 - 15:56 | Link to Comment GoinFawr
GoinFawr's picture

Harper and his Conservatives are renowned for keeping quiet on all major deals that strip Canuckians of their sovereignty. 

But even though any self-respecting rural Albertan can pick off a chicadee's eye at 200 metres, keep in mind they only have their dad's ol' bolt-action .22 on hand. (jk)

Wed, 02/23/2011 - 12:58 | Link to Comment Ms. Erable
Ms. Erable's picture

Sorry to say Tyler's wrong on this. Timmah's bosses made this shit up and told him to say it in public. I'm surprised Timmah didn't need a teleprompter to deliver the message.

Wed, 02/23/2011 - 17:13 | Link to Comment Cathartes Aura
Cathartes Aura's picture

+1 - always good to remember that this is scripted, read by actors, events are staged - best not to believe the storyline tho' as it's fiction, and subject to the next episode, currently being image-ined.

Wed, 02/23/2011 - 12:59 | Link to Comment Shameful
Shameful's picture

Geither is mostly correct.  The financial sector is stronger as they have institutionalized moral hazard and will carry no risk (Hello taxpayers!).  And lets face it CBs have a HUGE amount of experience with causing rising commodity prices.  He doesn't say if the CBs will lower it or not, just have experience with it :)

As to the economy being stronger, can even argue that depending on when you start the measurement from.  So he is telling the truth, from a certain point of view.

Wed, 02/23/2011 - 13:03 | Link to Comment Pants McPants
Pants McPants's picture

Haha you're right - doublespeak at its finest.

Wed, 02/23/2011 - 14:06 | Link to Comment tellsometruth
tellsometruth's picture

seems like the only speech available to poli-tics today

Wed, 02/23/2011 - 15:25 | Link to Comment DaveyJones
DaveyJones's picture

financial sector is stronger and everything else is falling apart. Seems like a fair trade.

Wed, 02/23/2011 - 13:00 | Link to Comment qmhedging
qmhedging's picture

Maybe he has learned sth."Never tell the truth"

Wed, 02/23/2011 - 13:01 | Link to Comment DB Cooper
DB Cooper's picture

Doesn't this prove that there is no difference between the Central Bank and the Treasury even though we always knew it - they would have us believe there was a difference (when it's convenient for them).  Fn bastard!

Wed, 02/23/2011 - 13:02 | Link to Comment Bluntly Put
Bluntly Put's picture

Yellow Rag Headline:

Timothy F. Geithner Researches Family Tree Finds Roots in Emperor Nero.

Wed, 02/23/2011 - 13:03 | Link to Comment ak_khanna
ak_khanna's picture

The likes of Geithner, Bernanke and Obama are paid very well to look the other way while the banksters and the rich corporatio­­ns rob the taxpayers of each and every dollar they spend or save. They do so by inflating the prices of things they consume and selling them toxic assets leaving the rest of the population helpless, starving and broke for their foreseeabl­­e future.

The politician­s around the world are nothing more than auction items which can be sold to the highest bidder. They will do whatever they can for the lobbyist paying them the maximum amount of money or votes, be it the unions, the banksters, the richest corporatio­ns or individual­s. They are in the power seat to extract maximum advantage for themselves in the small time frame they occupy the seat of power.

The rest of the population is least of their concerns. The only activity they do is pacify the majority of the population using false statistics and promises of a better future so that they do not lynch them and their masters while they are robbing the taxpayers.

http://www­.marketora­cle.co.uk/­Article245­81.html

Wed, 02/23/2011 - 13:02 | Link to Comment Calculated_Risk
Wed, 02/23/2011 - 13:04 | Link to Comment papaswamp
papaswamp's picture

Yep the banks will do just peachy...Main Street is screwed. Tell those Greeks to stop throwing Molotov cocktails!!! they are making the gas price rise! 

 

Wed, 02/23/2011 - 13:04 | Link to Comment topcallingtroll
topcallingtroll's picture

Now I am concerned.

Don't worry about issues unless you receive official reassurance.

Wed, 02/23/2011 - 13:03 | Link to Comment Thorny Xi
Thorny Xi's picture

We're gonna need a sh!tload of dimes.

Wed, 02/23/2011 - 15:08 | Link to Comment tmosley
tmosley's picture

Dimes are getting pretty expensive.  $2.41 last.

http://www.coinflation.com/

Wed, 02/23/2011 - 13:04 | Link to Comment Innocent Bystander
Innocent Bystander's picture

"Central Banks Have A Lot Of Experience In Managing These Things"

Like I've said before Dr.B and Co. are at the mercy of.

These kinda statements only reaffirm the fact

 

Total loss of control!  

 

There will be QE3 shortly, however with undesirable/ uncontrollable consequences.  Oil will be well above $120 and this is just the beginning.

Stock Bunkers! Good luck! - IB

 

Wed, 02/23/2011 - 15:39 | Link to Comment SilverBaron
SilverBaron's picture

QE3 or WW3?  Central banks are good at starting those too!

Wed, 02/23/2011 - 13:04 | Link to Comment Don Birnam
Don Birnam's picture

Naturally "[t]he economy is a much stronger position to handle" higher oil prices -- there are twenty percent fewer people going to work each day across the land; ergo, per The Secretary, reduced demand will serve as a governor for higher prices. 

Wed, 02/23/2011 - 13:04 | Link to Comment gwar5
gwar5's picture

O.M.G. I spit up coffee when I read the headline.

I thought you were just mocking Geithner. But no000oo. 

Wed, 02/23/2011 - 13:05 | Link to Comment shushup
shushup's picture

I almost did too! Only in American government could this man still have a job.

Wed, 02/23/2011 - 13:05 | Link to Comment vxpatel
vxpatel's picture

Hope/Change

Geitner/Bernanke

WE NEED A REAL LEADER SARAH PALIN!

Wed, 02/23/2011 - 13:05 | Link to Comment glenlloyd
glenlloyd's picture

Unbelievable, cannot believe that Jeethner said that.

Wed, 02/23/2011 - 13:06 | Link to Comment Internet Tough Guy
Internet Tough Guy's picture

Quick, Timmy, get to the chopper!

Wed, 02/23/2011 - 13:05 | Link to Comment TruthInSunshine
TruthInSunshine's picture

TurboTax Timmy is America's 'special' government official.

Truly.

This guy is a shining beacon on the hill of incompetence that serves as a near daily reminder to all Americans that being a total moron can never derail aspirations of those who have ties to the new, far more powerful organized crime syndicate, aka 'The 5 Families' of TBTF & PDs.

Mobsters in their heyday never had an ounce of power that the new criminals, backed by Bernanke & ObaMao, on Wall Street have.

Wed, 02/23/2011 - 13:07 | Link to Comment narnia
narnia's picture

maybe the Bernanke intends to roll out cold fusion at the next press conference.

i have about as much faith in the Bernanke preventing this train wreck as the surgeon general curing all disease.

Wed, 02/23/2011 - 13:07 | Link to Comment Bokkenrijder
Bokkenrijder's picture

Most of the CNBC watchers will swallow Timmy's lines though...

Wed, 02/23/2011 - 13:19 | Link to Comment Don Birnam
Don Birnam's picture

An interesting, albeit apparently somewhat flaccid, demographic these days for CNBC. To illustrate, this particular product was advertised on the channel right before the cigar store wooden Indians on "Squawk Box" began their morning teleprompter reads. 

http://www.extenze.com/

 

Wed, 02/23/2011 - 13:07 | Link to Comment LawsofPhysics
LawsofPhysics's picture

If this does not send the market into freefall, nothing will and here comes QE4.

Wed, 02/23/2011 - 13:06 | Link to Comment apberusdisvet
apberusdisvet's picture

The never ending supply of CIA coke does wonders, doesn't it?

Timmah:  "I'm King of the World"

Bennie:  "shut up and blow me"

Wed, 02/23/2011 - 14:09 | Link to Comment tellsometruth
tellsometruth's picture

thanks for the laugh needed it

Wed, 02/23/2011 - 13:08 | Link to Comment Ragnarok
Ragnarok's picture

If only we could get the TeaParty-Beck ralliers AND those Union ralliers to march on the Fed.  In that case I would strongly support protesting "Greek style".

Wed, 02/23/2011 - 13:16 | Link to Comment tickhound
tickhound's picture

Yep... Sadly co-opted and poised to blame one another.  But who knows?  There's alot of common ground in "we're all screwed"

Wed, 02/23/2011 - 13:37 | Link to Comment ronin12
ronin12's picture

+1

Wed, 02/23/2011 - 13:52 | Link to Comment Id fight Gandhi
Id fight Gandhi's picture

Fuck those union pussies. Oh boo hoo have to pay extra for healthcare and pensions. At least they have pensions and health. Most pay thru the ass.

I say we have our counter protests there.

Wed, 02/23/2011 - 16:09 | Link to Comment GoinFawr
GoinFawr's picture

http://www.youtube.com/watch?v=dTeEQuaNz2g

It's funny 'cuz it's true, 'cous'!

"I say we have our counter protests there."

Take out the second 'o' in that sentence, and I think it better describes your stupid idea. I'm sure Timmy, Ben and the gang will be with you all the way, laughing; at you.

Wed, 02/23/2011 - 13:07 | Link to Comment tahoebumsmith
tahoebumsmith's picture

I feel really confident now that I know my future lies in the hands of Tim Geithner. There is no doubt that we are totally screwed as the world ponzi unravels right before our very eyes. The revolution crisis has only just begun and if you haven't stocked up on a six month supply of food yet, now is the time. They thought they had the whole plan figured out, or did they? There is absolutely nothing Tim Geithner can do but pray that the dollar doesn't crash in the next few months because he and his sidekick Ben have shot all their bullets and the enemy hasn't even showed its face yet. Soon we will all realize how world ponzi economics 101 is nothing but a dream that we have all been living in and when the ball comes unraveled we will see there is nothing inside but massive crumpled up balls of credit card slips and iou's. For those who ridiculed Gerald Celente last year for calling a global revolution? Time to eat crow BITCH! This is real and is coming soon to a theater near you.

Wed, 02/23/2011 - 13:07 | Link to Comment redpill
redpill's picture

Are you sure this wasn't an SNL skit?

Wed, 02/23/2011 - 13:19 | Link to Comment Harmonious_Diss...
Harmonious_Dissonance's picture

I got a FEVER! And the only perscription is more Quantitative Easing!!

Wed, 02/23/2011 - 13:35 | Link to Comment Mozzer
Mozzer's picture

I'll take the "Gold Plated Diapers", thank you!

"what does that even mean?" ;)

Wed, 02/23/2011 - 13:36 | Link to Comment Mozzer
Mozzer's picture

I'll take the "Gold Plated Diapers", thank you!

"what does that even mean?" ;)

Wed, 02/23/2011 - 13:37 | Link to Comment Mozzer
Mozzer's picture

I'll take the "Gold Plated Diapers", thank you!

"what does that even mean?" ;)

NEVER QUESTION BRUCE DICKINSON!

Wed, 02/23/2011 - 13:37 | Link to Comment Mozzer
Mozzer's picture

I'll take the "Gold Plated Diapers", thank you!

"what does that even mean?" ;)

NEVER QUESTION BRUCE DICKINSON!

Wed, 02/23/2011 - 13:08 | Link to Comment johnQpublic
johnQpublic's picture

he needs to get back to the "shit from shinola" basics

Wed, 02/23/2011 - 13:08 | Link to Comment Catullus
Catullus's picture

The Dude: Look, nothing is fucked, here, man.
The Big Lebowski: Nothing is fucked?
[shouting]
The Big Lebowski: The god damn plane has crashed into the mountain!

Wed, 02/23/2011 - 13:19 | Link to Comment RafterManFMJ
RafterManFMJ's picture

Fucking Banksters. Nothing changes.

Wed, 02/23/2011 - 13:09 | Link to Comment gordengeko
gordengeko's picture

HAHA!  I think all doubt is now removed.  Yes ladies and gentlemen we are in the twilight zone.

Wed, 02/23/2011 - 13:09 | Link to Comment Caviar Emptor
Caviar Emptor's picture

Almost $100, 

Wed, 02/23/2011 - 13:10 | Link to Comment lieutenantjohnchard
lieutenantjohnchard's picture

in my world (i know - who gives a rip) gasoline demand is inelastic. i gotta drive because it's a long way between stops in texas. so whether gasoline is $2:50 or $5:00 i'll pay it. same with the a/c. it gets hot and dusty so gotta run the a/c. again, inelastic demand.

Wed, 02/23/2011 - 13:29 | Link to Comment andybev01
andybev01's picture

Mythbusters proved that you get better mileage at freeway speeds with a/c on instead of the windows open.

Not that it makes paying $5 a gallon easier to live with, but still.

Wed, 02/23/2011 - 13:41 | Link to Comment trav7777
trav7777's picture

i watched that episode and distinctly remember their going further on the same fuel load with windows down.

That notwithstanding, at the speeds I drive, I would suffer hearing loss from the wind roar so AC it is for me lol

Wed, 02/23/2011 - 13:50 | Link to Comment aheady
aheady's picture

Don't forget drafting behind an 18-wheeler. CONFIRMED.

Wed, 02/23/2011 - 15:42 | Link to Comment SilverBaron
SilverBaron's picture

Or you could put golf ball dimples on your VW.

Wed, 02/23/2011 - 13:10 | Link to Comment Caviar Emptor
Caviar Emptor's picture

Rumor from Twitter: Libyan pilots who bailed were ordered to bomb oil fields (!)

Wed, 02/23/2011 - 13:11 | Link to Comment Weisbrot
Weisbrot's picture

timmy the evil lying puppet still thinks people actually believe his bullchit?

Wed, 02/23/2011 - 13:10 | Link to Comment Dr. Porkchop
Dr. Porkchop's picture

Timmy is just distracting you with nonsense to buy time he needs to finish his bomb vest for his next suicide attack

Wed, 02/23/2011 - 13:12 | Link to Comment SheepDog-One
SheepDog-One's picture

WHY are americans not throwing these jackasses off of Manhattan buildings yet??

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