Guest Post: Captain Obvious (S&P) vs. Captain Oblivious (Tim Geithner)

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Mon, 04/18/2011 - 18:18 | 1181996 Stares straight...
Stares straight ahead's picture

I hope they can't sleep at night, at least...

Mon, 04/18/2011 - 18:37 | 1182052 Rainman
Rainman's picture

Gubmints most "brilliant" minds thought we were in a transitory cyclical recession. Yeah, right. We'll work it like the last one, and the one before, and the one before that. Educated idiots are the absolute worst !

Mon, 04/18/2011 - 18:41 | 1182062 DoChenRollingBearing
DoChenRollingBearing's picture

OK, OK, I see her points re banksters.

I still think that the CORE PROBLEM is that we vote in .gov public servants who spend more than they take in.

Government spending is the No. 1 problem.  And we all share blame for that by electing them...

Mon, 04/18/2011 - 18:54 | 1182087 topcallingtroll
topcallingtroll's picture

Agreed, you fucking selfish babyboomer, but you guys caused this damn mess.

Hey dochen

What's up?

Long time no see.

Mon, 04/18/2011 - 19:18 | 1182142 DoChenRollingBearing
DoChenRollingBearing's picture

Fcukin' selfish boomer Bearing took a cruise with his wife and her parents (their 65th Anniversary this year, our gift to them) for a week.

Nyaah, nyaah!

Oh, one last thing: it was the YOUNG PEOPLE who ensured that Obama won.  Hope and Change.

Nyaah, nyaah!

(but, your point is valid that we boomers caused a lot of this, shh, don't tell anyone I am agreeing with you...)

:)

 

Mon, 04/18/2011 - 19:38 | 1182175 velobabe
velobabe's picture

Do, i remember you were traveling this time last year, over in italia w/wifey. you are a lucky do.

4:20, coming up^

Mon, 04/18/2011 - 19:42 | 1182196 DoChenRollingBearing
DoChenRollingBearing's picture

velo, every day I realize I am the luckiest guy in the world.  Or would that be the luckiest bearing?

Mon, 04/18/2011 - 20:07 | 1182254 Landrew
Landrew's picture

Govt. spending is the problem?

If you cut everything except WAR ,social security, interest on the debt there is nothing left to cut! So you are saying no national parks? No center for disease control, no NASA, no highway, no coast guard, no education, no energy research, no oversight of nuclear power, no oversight of oil industry etc.?

Why not just move to Mexico or China? So you think the states can handle Tornado's without help? Why is a REPUBLICAN'T governor BEGGING to the FEDERAL government for funds?After the bullshit that comes from that state, I would make them come hat in hand and I mean hat in hand!

FEMA that's crap right? Maybe we all go it alone? Your country isn't a country, my country grows together to build a better future. Your country is sold to the highest bidder. I would rather move to Argentina where at least the cost of living is less. 

Mon, 04/18/2011 - 21:04 | 1182407 sun tzu
sun tzu's picture

The IRS collects $2.2 trillion in taxes. The government spends $3.7 trillion. Your solution is to raise taxes by over 50%? Even if you confiscated every last cent from the Forbes 400 richest Americans, you are still short well over $1 trillion a year. 

Somehow we managed to have national parks, FEMA, NASA, roads, schools etc prior to your Holy Messiah being elected by the idiotic masses and increasing the budget from $2.8 trillion to $3.7 trillion.

You're a dope I can't believe in

Mon, 04/18/2011 - 21:39 | 1182490 DoChenRollingBearing
DoChenRollingBearing's picture

@ Landrew,

Hey, I'm good to cut war, defense and entitlements as well.  We have to cut spending one way or another.

I have a feeling that interest on the national debt will be cut, defaulted on or inflated.

There is plenty we can cut, war and entitlements are OK with me, and I am 55.  No, I will not be collecting Social Security nor Medicare.  As you probably well know, defense and entitlements are the two Big Enchiladas...

Feel better?

Mon, 04/18/2011 - 22:29 | 1182609 Agent 440
Agent 440's picture

meh. Think of all the savings if we get this loser and all the rest one way tickets to the socialist paradise of their choice. Problem solved.

Mon, 04/18/2011 - 23:11 | 1182762 Al Gorerhythm
Al Gorerhythm's picture

Meh. From Utopia to Shangrila.

Mon, 04/18/2011 - 18:45 | 1182067 What does it al...
What does it all mean's picture

I have to say... I try to not to be elite-ist about qualifications and only evaluate people on their innate ability..  But Tim G. is so underqualified for his job that I think it is the only reason that he is still there.  (Can't get a better one elsewhere / less shame?  Like Larry Summers...)  Failing upwards.

I mean, for a secretary of treasury, he doesn't have managerial experience, economics/quantitative skill sets and just talks a good game that is obviously dictated by Rubin/Summers/Paulson/GS/JPM...  At leat The Bernank is somewhat intelligent. (If not mis-guided, not about the monetary policy necessarily, but what a crappy inherited position that Maestro would leave behind.  Mr. Greenspan sure knows how and when to exit.)

 

I mean, Timmy G. should resign / fired right now, but I am sure he will end up running a big bank or something.... (let it be AIG, or GSEs like FNM/FRE!)  I am even thinking of getting rid of the dollar bills that bear his signature.  Appointing him to the post, will remain one of Obama's biggest mistakes, and that is saying something.

Mon, 04/18/2011 - 19:17 | 1182135 NotApplicable
NotApplicable's picture

You talk as if Sec. of the Treasury is a real job.

He is a front-man for the bankster mob, that is all.

Mon, 04/18/2011 - 20:22 | 1182309 What does it al...
What does it all mean's picture

Fair enough.   I just thought that they should at least try to pretend that there is a requirement.  Ph. D., Experience, brain?

Mon, 04/18/2011 - 20:39 | 1182339 Dollar Bill Hiccup
Dollar Bill Hiccup's picture

Speaks Mandarin. Good when someone wants to order moo goo gai pan or whatever.

Mon, 04/18/2011 - 21:58 | 1182551 Pegasus Muse
Pegasus Muse's picture

"But Tim G. is so underqualified for his job that I think it is the only reason that he is still there."

Same same for O'bummer.  That's why the power elites selected him.

Tue, 04/19/2011 - 01:05 | 1182976 What does it al...
What does it all mean's picture

Obama at least has a Harvard Law degree, and the editor of the law review. (Which I hear is quite an accomplishment in that circle.)  Tim?  I bet the Chinese makes fun of his Mandarin when he tried to float their yuan.  

Tue, 04/19/2011 - 03:07 | 1183127 baby_BLYTHE
baby_BLYTHE's picture

His father, Peter F. Geithner, was the director of the Asia program at the Ford Foundation in New York in the 1990s. During the early 1980s, Peter Geithner oversaw the Ford Foundation's microfinance programs in Indonesia being developed by Ann Dunham Soetoro, President Barack Obama's mother, and they met in person at least once.

Maybe that is why he was hired and never fired?

http://en.wikipedia.org/wiki/Timothy_Geithner#Family_and_education

Tue, 04/19/2011 - 05:02 | 1183159 Popo
Popo's picture

You want to talk unqualified?  Before becoming god of the financial-universe, Ben Bernanke had a seat on the board of Fed governors for two years, and before that he taught college.

He has two years of experience. Period.

And what were his qualifications for his once-in-a-lifetime promotion?    ... An expressed willingness to increase liquidity, come what may.

He's a college teacher with a penchant for expanding the money supply.  All of this b.s., mumbo-jumbo about being an "expert" on the Great Depression is laughable, considering there is well-known, widespread disagreement within academia about the causes, remedies and and 'what-ifs' of the Great Depression.  And Bernanke's version of the 1930's frequently meets with academic criticism.  His 'expertise' is a trumped up disguise for his real skill, which is a willingness to placate banking interests at the expense of the public.  Period.

Of all the life-long financial badasses that could have been given the job, they handed the crown jewels to a guy with two years of on-the-job experience and a controversial philosophy which just so happened to be bank-friendly in the extreme.

Bernanke is an asshat.  A very dangerous asshat and an enemy of the people of the United States.

 

Mon, 04/18/2011 - 18:20 | 1182003 Hephasteus
Hephasteus's picture

"The USA will never lose it's AAA rating." - Tim Geihtner

Mon, 04/18/2011 - 18:26 | 1182024 lolmao500
lolmao500's picture

Geithner will not leave this world due to natural causes. - The People

Tue, 04/19/2011 - 04:22 | 1183151 ZFiNX
ZFiNX's picture

+111

Tue, 04/19/2011 - 05:02 | 1183162 Popo
Popo's picture

Cue that scene from The Matrix:  "We need guns.   Lots of guns."

Mon, 04/18/2011 - 18:38 | 1182056 I think I need ...
I think I need to buy a gun's picture

The plan has been in place for over 10 years that why little Timmy was the ONLY option. Its top secret and it involves gold

Mon, 04/18/2011 - 20:05 | 1182246 knukles
knukles's picture

You're getting very hot....

Mon, 04/18/2011 - 20:46 | 1182355 Rusty Shorts
Rusty Shorts's picture

heat shield?

Mon, 04/18/2011 - 20:04 | 1182234 knukles
knukles's picture

Well, he's been right so far.

(giggle, giggle, snort, snort)
(Even sounds like Timmah!)

And Trichet today siad that all of the EU members were ahead of the curve on finances.
(What?)

And Sir Alan "the Pimp" Greenspan this weekend on "Meet the Press" (?) said that there was no inflation.  Prices were all going up due to increases in productivity.
(Honest.  He said that.)

And Bill the Cat said; "xzmphlft"
(Which made the most sense of all.) 

Mon, 04/18/2011 - 18:23 | 1182013 max2205
max2205's picture

Just wait till Obummer's second term. Weeee

Mon, 04/18/2011 - 18:26 | 1182014 redpill
redpill's picture

 (near zero borrowing costs from non-zero lending through mortgage, personal loans, credit cars, or whatever)

I would hope that more Americans could at least understand this singular point and get pissed off.  The Fed is inflating our currency, which is back-door stealing from every American, just so it can give money to large banks for NOTHING in order for them to turn around and lend it out and MAKE INTEREST on the same people, us, that are getting stolen from via inflation to make the whole thing possible.  The vampiric atrocity of it should make everyone's blood boil regardless of what part of the political spectrum they hail from.  Why in the world should banks be making a penny when they have to take no risk?

 

Mon, 04/18/2011 - 18:29 | 1182037 LawsofPhysics
LawsofPhysics's picture

Yep,  spot on.  for that matter, we would we let a private banking cartel charge us excessive interest to print or money for us when we can coin it ourselves?

The financial sector (which creates NOTHING of real value) remains a cancer that is killing the productive sectors of the economy through excessive debt and fraud.

Crash the system, crash it now.  The sooner we do, the sooner compensation will find its way to folks that are actually worth a shit.

Mon, 04/18/2011 - 19:11 | 1182121 mark mchugh
mark mchugh's picture

Yep.

Mon, 04/18/2011 - 19:42 | 1182193 What does it al...
What does it all mean's picture

I had a good argument with a close friend of mine who is working for one of the TBTF banks. (as a MD.)  I suggest that we, the US Tax payers, demand a system like what they have in Japan for payment processing and simple savings.  

 

Who the hell need "banks", that doesn't give out loans?  For their insider trading / prop desk / Public offering?  Investment advisory expertise?  (Really, Lehman was an IB, expert at saving corporations, and it failed spectacularly!)

Just throw it all up on EBAY, and see what auctions and what doesn't.

 

Mon, 04/18/2011 - 18:39 | 1182064 IdioTsincracY
IdioTsincracY's picture

For all tea party revolutionaries around here, straight from our founding fathers:

I believe that banking institutions are more dangerous to our liberties
than standing armies. Already they have raised up a moneyed aristocracy
that has set the government at defiance.

Mon, 04/18/2011 - 18:24 | 1182020 rubearish10
rubearish10's picture

So, does The FRED just hike rates tomorrow and force the issue into sobriety? ugh! Just kidding, just kidding.....

Mon, 04/18/2011 - 18:28 | 1182025 long juan silver
long juan silver's picture

Geithner? He still working here? Robert Stack knows more than him.

Mon, 04/18/2011 - 20:08 | 1182252 knukles
knukles's picture

Yeah, the Elliot Ness guy!

Mon, 04/18/2011 - 18:26 | 1182026 LawsofPhysics
LawsofPhysics's picture

Hmm.  Run to PMs and cash and await default? Check.  Then come back when treasury yields are above 20%.  Maybe, depends on the inflation rate I guess, this is the bit I am not sure of just yet.

Mon, 04/18/2011 - 18:26 | 1182027 Dr. Porkchop
Dr. Porkchop's picture

Tim is guilty of treason. It's that simple. If you see something, say something.

Mon, 04/18/2011 - 18:37 | 1182053 DoChenRollingBearing
DoChenRollingBearing's picture

LOL.  Good one!

Mon, 04/18/2011 - 23:44 | 1182850 Al Gorerhythm
Al Gorerhythm's picture

Or substance abuse. That last tab must have been a wild one.

Mon, 04/18/2011 - 18:26 | 1182028 smlbizman
smlbizman's picture

i really do love the spin.......from christina ( i had a pig-neck-ectomy} romer...christ this aint news...everybody knows were broke...s&p is just figuring it out...

Mon, 04/18/2011 - 18:48 | 1182078 Rainman
Rainman's picture

...even to this very day, that no-neck Romer refers to the lack of jobs as " cyclical" unemployment. Banished to Berkley, she should never be heard from again outside that rat's nest of commies. 

Mon, 04/18/2011 - 23:30 | 1182831 WonderDawg
WonderDawg's picture

I don't think the S&P is just figuring it out, they've known just like everyone else knows. The thing I'm trying to figure out is how the TBTF cartel benefits from this? What's the play? It's obvious (to me) that the S&P puppets were told to do this, but why? Figure out how the cartel benefits from this, and make your play accordingly. Any ideas?

Mon, 04/18/2011 - 18:38 | 1182030 Zero Govt
Zero Govt's picture

today Timmay Gitner would have us believe digging a deeper debt hole by raising the debt ceiling was great for the "credability" of the USA and a brilliant fiscal "solution"

tomorrow Obumma is going to make us understand how not 3 foreign wars but 7 (or 8) is fab US foreign policy and a Nobel Peace Prize winning strategy

Barney Frank next week's going to ignore the fuking shambles he's made of US property and unveil his central planning for the rental sector (Mission: Sub-Prime Rent)

and the Marxist goon squad (Obummas Science and Energy Czars) who've already declared "War" on the worlds greatest airborne plant fertilizer (CO2) is going to ban offshore drilling (having banned onshore and shallow water) and run what's left of US industry on subsidised popcorn oil extract

Things can only get better with the 'experts' we've got in The White House!

Mon, 04/18/2011 - 18:57 | 1182099 topcallingtroll
topcallingtroll's picture

Socialists and those who envy the possessions of other people really hate your ass zero.

You get almost as many junks as me, and you make it look so easy, like you arent even trying.

Mon, 04/18/2011 - 19:06 | 1182115 Zero Govt
Zero Govt's picture

they can hate my ass and they can kiss it too

fuking wasters with fat gobs running on empty throughout human history ...bring on the Great Depression, its Darwinian Selection Time   ;)

Mon, 04/18/2011 - 19:08 | 1182120 topcallingtroll
topcallingtroll's picture

Woohoo!

Party time, Darwin style...much better than reality.tv. we bring the emtertainment right to your very own living room.

Tue, 04/19/2011 - 06:44 | 1183206 buzzard
buzzard's picture

One little nit... When you finally see the damage from the build-up of CO2 (assuming you live that long) will you then admit that you were wrong about Global Warming?

Mon, 04/18/2011 - 18:28 | 1182034 disabledvet
disabledvet's picture

"the American people are getting killed" and "they're responding in kind."  And how many people want to be the next President?  A dozen?  No thanks.  "I'll take the money and a mai-tai on the beach."

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