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Tim Geithner: Welcome To The Unemployment Line
The last rat is preparing to jump from the SS Obamic
GEITHNER SAID TO CONSIDER LEAVING TREASURY AFTER BUDGET DEAL
Explains why the market just ripped.
In the meantime, a cubicle at 270 Park is being prepared.
From Bloomberg:
Treasury Secretary Timothy F. Geithner has signaled to White House officials that he’s considering leaving the administration after President Barack Obama reaches an agreement with Congress to raise the national debt limit, according to three people familiar with the matter.
Geithner hasn’t made a final decision and won’t do so until the debt ceiling issue has been resolved, according to one of the people. All spoke on condition of anonymity to discuss private discussions.
The Treasury secretary has said the U.S. risks defaulting on its obligations if Congress doesn’t raise the $14.3 trillion debt ceiling by Aug. 2. The administration and congressional Republicans are at an impasse in negotiations to raise the limit, which also is tied to efforts to cut the nation’s long- term deficit.
An exit by Geithner would complete the turnover in Obama’s original economic team, with Council of Economic Advisers Chairman Austan Goolsbee scheduled to leave in early August to return to the University of Chicago.
That would leave Obama with two key posts to fill as Republicans are seeking to turn the 2012 election into a referendum on Obama’s handling of the economy and the recovery is slowing. The unemployment rate rose to 9.1 percent in May, according to the Labor Department, and the U.S. economy grew at a 1.9 percent pace in the first quarter, according to Commerce Department figures released June 24.
Geithner, 49, has told associates that he needs a break from government service after dealing with the turmoil that followed the collapse of Wall Street firms including Bear Stearns Cos. and Lehman Brothers Holdings Inc., first as president of the Federal Reserve Bank of New York and then as Obama’s treasury secretary.
Family considerations also are playing a role in Geithner’s deliberations, according to the people. His son has decided to finish his final year of high school in New York.
If Geithner does leave the administration, Obama would be losing a member of his economic team who understands Washington institutions and the New York banking world as well the intricacies of the Chinese economy. Geithner has pressed the Chinese to let their currency appreciate faster to reduce the global imbalances that both he and Obama have blamed for financial uncertainty.
In addition to Goolsbee, who announced his decision to return to the University of Chicago earlier this month, three other top Obama economic advisers already have departed. At the CEA, Goolsbee replaced Romer, who returned to teaching at the University of California at Berkeley last September. National Economic Council Director Lawrence Summers and Office of Management and Budget Director Peter Orszag left the administration last year. Summers returned to Harvard University, and Orszag is now vice chairman of global banking at Citigroup Inc.
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TIMMAHHHH
WE HARDLY KNEW YE!!!
Rats. Sinking ships. And all that.
i get the sense its not rats leaving a sinking ship as much as its obama jettisoning the ire of republicans just in time for the campaign to ramp up.
Cynic.
George W. had three. Probably means he tired. They think they figure out how keep market going straight up. No worries.
"Probably means he tired."
Timmah's been raiding the federal employee pension funds...tsk tsk...he probably got paid a little visit.
Say, Timmah, dats a mighty fine lookin family yuz got deah... ;-)
So Timmah is out of a job
Another poor out-of-work slob
But Timmah don't fear
As long as Ben's here
You'll be paid well for buffing his knob!
I like it!...well done LK.
If life were fair, his next job would be cleaning out sewer pipes in New Dehli
Train tracks to Poland
Train tracks to Poland
Train tracks to Poland
Train tracks to Poland
Meet the new rat,
same as the old rat...
...but then, aren't we all? Lab rats.
To the elites? Yes.
Read this over on a well known conspiracy site...
"In less than ONE year, FIVE of Obama's top economic advisers have resigned...which begs the question: If we were really in an epic economic recovery, why would the president's economic team be jumping ship?? Would they not want to sick around and take some credit for a historic recovery?
LOL...it's because they KNOW this whole thing is going DOWN IN FLAMES!!!
Here's the list:
DATE: JUNE 2010
NAME: Peter Orszag
TITLE: White House Budget Director
REASON FOR DEPARTURE: Bored of job; spend time with fiancee (LOL)
DATE: AUGUST 2010
NAME: Christina Romer
TITLE: Chair of the Council of Economic Advisers
REASON FOR DEPARTURE:Return to teaching.
DATE: September 2010
NAME: Larry Summers
TITLE: Director of the White House National Economic Council
REASON FOR DEPARTURE: Return to Harvard University as a professor.
DATE: January 2011
NAME: Paul Volcker
TITLE: Head of the President's Economic Recovery Advisory Board
REASON FOR DEPARTURE:Unknown
DATE: June 2011
NAME: Austan Goolsbee
TITLE: Chairman of the President's Council of Economic Advisers
REASON FOR DEPARTURE:Returning to his tenured job as economics professor at the University of Chicago
What we are witnessing is a game of musical chairs...but in this case NO ONE wants to have a seat on Obama's economic team during the largest financial collapse in world history.
Also note this is ONLY his economic team!! Does not include other advisers,secretaries, etc such as David Axelrod, Rahm Emanuel, Robert Gibbs, etc!!!!!!
does make you wonder...
+1
No, just bumped up to new quarters on upper deck.
Ready to take his place next to Bob Rubin as a shining example to his future successors, of the gratitude shown to the loyal errand boys, by our universal masters for being a team player. Go Timmy!
Did someone call for TIMMAH?
Timmy! And the Lords of the UnderworldWe're gonna need another Timmy...
I heard Steve Lies-man of CNBS is to be his replacement.
So now Steve will be able to eat his own asshole!
STEVEN - is that you who junked me?
Did silly Kudlow and Cramer join in on the junking?
Your avatar 3 times in a row just reminded me...is anyone looking for a puppy?
Precious.
sorry, no delete?
Sorry, repeat post. No delete?
Precious Pup?
And the picture is a picture of......?
Is Liesman tge biggest asslicker of all time?
Yazaa, massa Fed. I sho do lick u balls!
Is Liesman tge biggest asslicker of all time?
Yazaa, massa Fed. I sho do lick u balls!
Is Liesman tge biggest asslicker of all time?
Yazaa, massa Fed. I sho do lick u balls!
Damn!
Now who's gonna help him with his taxes?
Too bad they tore down the West Side Highway. He could have sucked cock for a living like the rest of us when this all ends badly. As it must.
he just really wanted to move back to NY now that gay marriage is legalized.
hahaha!!!
LMAO!!!!!!!!!!!!!!!!!!!!!!!!!
He sucked Bernanke's cock for 2 + years by going along with QE so his resume is now complete.
Timmy can now move on to the big time: A prime spot at the Port Authority bus terminal, 1:00AM to 6:00AM at $25 / blow.
I'm sure Timmy could find a nice place on Christopher Street to ply his trade. He doesn't have to just suck dicks down on Broad Street.
Nobody wants credit for this coming disaster.
+Fact!
John, Howard,
Completely correct.
The rats are running off the ship.
Prepare accordingly. Why not gold?
even the fitrats.
Yahoo! *Cartwheels.
I hope there is someone who can be a proxy to take his place.
Yeah, get ready for Treasury Secretary Larry Summers (again). (Wretch).
Seriously, who should be the next Secy. Treas.? One name springs to the top of the list,
Ron Paul
failing that, in the more realistic camp how about
Sheila Bair
Warren Buffett
Steven Rattner (the street fears him)
Tyler Durden
"Seriously, who should be the next Secy. Treas.?"
Sighhh...ok, I'll do it, I'll be the target. But only for a year.
I'll be needing five Miguel Cabellero suits and a few good hand picked men...gawd, the adventure, the mayhem, the soiled GS boardroom chairs ;-)
Harvard Law Professor Elizabeth Warren
or
Bill Black, author of The Best Way to Rob a Bank is to Own One and an associate professor of economics and law at the University of Missouri-Kansas ...We need guns. Lots of guns.
"Could Obama ignore Congress if they refuse to raise the debt ceiling? Yes, and he should, some experts say"
http://news.yahoo.com/blogs/ticket/could-obama-ignore-congress-refuse-raise-debt-ceiling-142136726.html
Interesting, that.
Oh, now this is just hilarious!
"Class, for today's interpretive reading assignment, please open your books to the 14th Amendment of the US Constitution. Tell me, just what does it mean?"
Fucking words, how do they work?
Exactly. I mean, if they wanted us to have guns, they would have said somewhere "The right to keep and bear arms shall not be infringed."
+.308
Alex Jones gave a keynote address at an Alternative Media conference yesterday. Plenty of hyperbole there, but also some good points:
AJ is A OK in my book.
Me too, basically.
He gets shit on from all sides a lot, though.
(mainstreamers: "he's tin-foil conspiracy loon")
(conspiracists: "he's a shill for the Vatican and Israel")
(new Agers: "no negative energy, please!")
(academics: "he's a hyperbolic demagogue")
So I have to be careful about how I promote him, when he speaks the truth, because of all the prejudice out there.
edit: this kid makes some good points:
("Alex, you're really limiting yourself to extremely open-minded people who can sit there and listen to you and just ignore half of it, and try and gather what few facts you give, that are sandwiched between long tirades of nonsense.")
+1
He's hard to listen to -- with his rants, melodramatic presentation, over-sensationalising inconsequential details, and incessantly interupting and talking over guests -- but he puts out mountains of useful information from his extensive research, varied guests and band of inside 'leakers'.
He is the only one in the alternative media, IMO, who understands the true structure of TPTB. He's not sidetracked by UFOs, lizards, religiosity, left-right politics, marxist shills or call-in trolls. He's almost single-handedly exposed the Bilderbergers to widespread publicity (even though Jim Tucker and Daniel Estulin have been tracking them and writing about them for much longer). And, most importantly, he's fearless about confronting any of the evil bastards face-to-face -- or with his megaphone, if they're hiding inside behind security details!
He really is an 'info warrior'.
http://www.zerohedge.com/article/guest-post-its-time-invest-coal#comment-1414218
A late reply
I don't like his accent. Now if he had a nice British accent like Vic Morrow or Sir Ralph Richardson I would probably like him.
Actually "+ 7.62 x 51 NATO"
By that standard, (debt) slavery wasn't actually banned by the 13th amendment...
Neither slavery nor involuntary servitude, except as a punishment for crime whereof the party shall have been duly convicted, shall exist within the United States, or any place subject to their jurisdiction.
Congress shall have power to enforce this article by appropriate legislation.
Perhaps Obama could sell Timmy to the Chinese to help pay down the debt.
We need rope. Lots of rope
you may need them.....i've got that part of the plan secured.....
@ fuu,
Check!
9mm + 7.62x39
Another "cubicle" has been prepared for him: 1 meter by 1 meter by 2 meters.
don't forget the 7.62x54
Isn't that for Mosin-Nagant rifles? that's not commonly found in North America. Seems to me good old .308, or the newer .338 would be a better ammo.
Nope.
7.62x54 is NATO standard for the M-14 (great rifle) and the M-60 SMG family
nope.
7.62 x 51 = .308 (tighter spec on the nato)
7.62 x 54 = mosin nagent
very different looking - the x 54 has a rim on the bottom of the case, the x 51 has an extractor groove.
jus sayin
sorry for any confusion; i should have written it as 7.62x54r.
yes, its for the mosin. indestructible bolt action for longe range. you can find bulgarian ammo by the thousands for very, very cheap. you can get mosins for $75
plus, if you ever run out of ammo, you have a nifty bayonet.
even the matrix aint this fucked up...........but Nicaragua rocks on a Thursday afternoon
We need guns. Lots of guns
PS.............great movie line amigo.....on so many levels
Or maybe it's just his turn at the feeding trough. That's the promise, right? Take your turn at the top making the "tough" decisions and then be set for life. The merry-go-round of official American corruption PONZI style.
LoVe American style?
Bravo!
This is why I love the ZH comment section. There is a constant and seamless integration of old school boob tube indoctrination and predictive programming "TV" programs and movies with an endless supply of insane current events.
http://en.wikipedia.org/wiki/Love,_American_Style
http://www.imdb.com/title/tt0063925/
CD,
...but isn't that what Amkra is (soon to be was) about?
A reflection of the state of the human race here.
Thanks for sharing.
Bravo back at ya, for picking up the ref. It was indeed a goofy attempt at indoctrination, amateurish at best, but effective nonetheless.
Perhaps you also picked up on the lettering of the word "LoVe", which is a retro-kitch reference to the once ubiquitous "LoVe sculptures" in US cities (post offices, capital buildings, corporate plazas in need of good PR)
http://www.memecenter.com/fun/77746/Original-LOVE-1970
Isn't there one still standing in NYC? I thought I saw WB7 do a spoof on one some months ago?
Can't quite remember......which means something else is failing me fast. :>)
The American version of 'animal farm'. We kick out the monarchy and class privelege so we can create our own
Oogs,
good luck with that. How did tptb came to this?
The insane knew not while the sane too casual...so handed it to them.
Now the insane multipled drastically...We have had our chance.
+100
Just wait for the Jamie Dimon fawning to start...3..2.1..
+1
I can already see Obama smiling broadly as he introduces "Legs" Dimon as his new man at the UST.
"Jamie is the right man at the right time....brings integrity....commands respect....restores confidence....blah fucking blah...."
Jamie's got a seat at the table. Timmay's a lackey. If Dimon was appointed I would think it would mean something big's coming that can extend the Ponzi for at least a few years. Otherwise he wouldn't want to watch over the demise...
Re: If Dimon was appointed I would think it would mean something big's coming that can extend the Ponzi for at least a few years.
Good point. The "quality" of the sociopath might be a predictor as to the remain time left.
Larry Summers, Part Deux, you heard it here first. One ass-kissing Beanie Patrol member will do just as well as another, as long as they've done a stint with the war criminal Henry Kissinger (Timmy) or the World Bank....
This time he could refinance the entire $14T of US debt into 1 month bills at a negative rate, and theoretically "save" the taxpayers money... $14T in monthly bond flipping to the FED could recapitalize all the primary dealers before the election.
Yes, that sounds about his speed. He may also sell/lease all U.S. gold, again. Who'll take the tungsten???
Krugman. They ran out of Koolaid so they need a Keynesian zealot in Treasury.
I can not wait to debate krugman on taxation in San Tropez. Hopefully DSK will pick out our masuses and we can get into natural law.
*Still non-violent, but if the NYPD needs to do what the NYPD needs to do, I will not save good old DSK/Krugman from an american style perp walk untill the french give us back all the gold they took in 1971.
http://en.wikipedia.org/wiki/Nixon_Shock
There is a difference between a sociopath, and a psychopath. The sociopath, is more nervous, and less organize than the psychopath, a sociopath is also less likely to be as charismatic as a psychopath. I think sychopath here fits the definition better.
I don't think it matters. Socio- just emphasizes the social dimension whereas psycho- just emphasizes the clinical side. I like the socio- prefix better because I hate psychology which is the biggest con ever invented, with economics following in second place.
Great observation.
Will we ever see this piece of human filth on our TV screens again?
probably not unless robin leach gets a new show.
Coming this fall, on Fox.
Lifestyles of the Rich & Famous Douchebags.
Dont worry, we'll continue to see him on tv every Christmas. Remember when he wanted to be a dentist?
ba ha ha ha ha
Upcoming episode of America's got treasonous criminals
Grand Jury Hearings by the next administration...
How will the uberclass choose between their favorite sons Tim Geithner and Kevin Warsch to succeed Bernanke after he has served his purpose and printed another $5 Trillion?
Ripped? You would think stocks would tank because they couldn't find anybody more friendly to WS.
(I'm betting he's bailing before the mass chaos kicks off)
CAN I GET AN A-MEN?! (or is that TIMM-AY-MEN)
Now if we could only put these clowns in prison.
Maybe we'll get lucky and someone will shoot him.
I'd rather see those cocksuckers suffer..
Lockjaw?
This was expected. Now, the big question is when the Bernank will resign. Due to his god complex I give him at least 4 more years of micro managing this madness.
The end of this administration is the end of his tenure...
I hope he ends up sitting in the middle of the room trembling.
What an ass.
Goldman Sachs Board Member Spared any investigation by the SEC... Surprise! Surprise!! Surprise!!!
http://www.finalternatives.com/node/17248
“Gupta SEC Case Postponed Indefinitely” Notice that Goldman Sachs is NOT! in the Head Line?? And is not mentioned until the end of the article..“Gupta was not called as a witness at Rajaratnam's trial, which ended in his conviction on all counts last month. But his voice was heard in several taped phone calls between the men; prosecutors say that, in one case, Gupta called Rajaratnam only seconds after leaving a Goldman board conference call to tell him that bank had received a big investment from Berkshire Hathaway.”
It's news to me!
But, I am not surprised...
DC,
you are sane enough to never be surprised...
Now will they find another one who can speak old chinese proverbs?
Game changing!
he knows too much to be able to be put on the stand. can't allow the sheep to know what is really going on. could bring the whole house down.
AMF
10-4, this guy is the poster child for everything evil in the world of finance - Adios Mother F%*KER
AMF-YoYo
I heard he is starting a new career as an actor is going to play a role in a movie called "three chimps and a midget"
Who are the other two chimps going to be?
Suggestion for intrade bets
Soon to be new partner of:
(a) Goldman Sachs
(b) JP Morgan
(c) Citigroup
(d) HR Block
(e) PwC Auditor for reverse merger chinese companies
dimon's new man-whore
I offer yet another suggestion............
f) New head of the WTO or is it the World Bank........
Didnt I read somewhere recently that that post is now up for grabs? And isn't it customary that this "rapist" role goes to an American?
Timmahs going to work for Turbotax.
Book deal/tour first. That cools him off before going to a bank.
agreed; then GS; or maybe BoNYMellon
Maybe his constant fear mongering over a US default p*ssed of the Rep/Dem group aiming to use it to pass pointless concessions... Timmy was clearly meddling in election territory, well outside of his assigned "Press the green button to print... Timmah... You got that? BB"...
"Explains why the market just ripped."
I thought it was the compression, or is it those Bollinger bands? I better check the charts
What will we do now? I thought this guy was uniquely qualified to serve in this position.
Required experience -
None
Ability to push the "Print" button a plus
Proficiency with Microsoft excel (expecially the 'Hide rows' feature) a must
Yep - he was definitely uniquely qualified lol
I bet he is going to hook up with Congressman Weiner....just my thought...
Actually he knows how much money he can make shorting the markets and treasuries now...and wants some big bucks...
How much money do you make shorting Shares?
We are up over 400 points on the DOW in just last 3 days,
keep shorting.. I have couple of shorting positions as protection
and they are complete loss as of now.. DOW will go much higher
by the Year end, ones summer is finished.. Good luck with your
short..
did you not buy long when futures were down over 10 points. that is always a buy signal at least on the day. noting wrong with closing some shorts, keeping those longs, and putting some shorts again. you are therefore covered.
the second thing is we dropped to about the level of the flash crash, I expect we'd bounce back up just about as high. I don't know which way the market will go from here, but it's not been that difficult. I will play it either way as it doesn't matter to me. if it drops my couble inverse funds will be picked up, if it rises my shorts will stop out. but we are at critical inflection point. also note the firts day of the month and end of repo 105 so you should be front running the boys in that regard. thrid earnings is on us, so that means not knowing which way the market will really move. lastly first day of the month is known for being a big up day usually. not a bad idea to front run this.
be aware a lot of commodity funds roll over around the 8th. so expect a ramp up, then a drop.
that's all folks. of course doesn't always work, but you play the odds with stops, etc. good luck. they also have to push the market to get th sheep back in that sold at the bottom. instead of getting in then.
Good luck
FYI...I am in PM´s........I could care less about stocks....or the paper that they are printed on...I do not have a HFT computer...so I do not want to play...If I can´t cheat like the rest of them....then I will take my ball and go home...to my PM´s...
I hate to say it, but... Damn you're ugly!
Whose summer is finished?
Is this why gold dropped today?
It's not just Gold, Commodities are week today.
DBA agriculture down 2.45% today.
DBE energy, slightly down too, Gold Silver also weak.
No worries though,
They'll run back up, soon enough.
Jon Corzine's on deck.
Then the apocalypse is surely upon us.
He's got so many skilz that can be used elsewhere.
</sarcasm>
LOL !
Time to issue these to all Americans. Make sure your neighbors have them too.
We are going to use those to flip dog food burgers, right?
LOL
That's right out of the old west pioneering spirit. Making one item do double or triple duty.
I prefer Alpo......but I'm sure when I get desperate enough the local house brand will be more than sufficient. A friend tells me not to over look the cat food when the bum's rush is on at the local supermarket. Fancy Feast is his favorite.
Are they charcoaled, with lots of chillies? Yummmmmy.
Like one of those jokes you get in an email, where a large space is inserted so you have to scroll down to the punchline--or swatline, in this case.
Didn't see it coming at all--much like the fly doesn't until...
Still laughing!
and after TSHTF and no-one can get gas for their cars, road kill is going to be scarce!