Geithner Tells NBC S&P Shows "Stunning Lack Of Knowledge About Basic US Fiscal Budget Math"

Geithner was on NBC and when discussing the massively overdue S&P downgrade of US debt, shared the following pearl of wisdom: "S&P decision to cut U.S. credit rating shows stunning lack of knowledge about basic U.S. fiscal budget math." Listen to Tim: when it comes to stunning lacks of knowledge about things, Tim is the absolute expert, although in his case it is mostly the US tax code. He added that S&P made a "terrible judgment" and reached the wrong conclusion. He is right. The cut should have been at least several more notches. But there is time... Lastly, and most expectedly, he added that the S&P decision changed nothing on the safety of Treasuries and that China remains a strong investor in the US. Perhaps. We shall see after the TIC statement from October is released, which will detail August transactions. Alas, by then the world will have other issues to deal with.

Comments

[Debt is Slavery]

Alright, so here's the the thing that strikes me about Geitner.  He reminds me of an 80's villain.  Perhaps an employee of OCP.  It's just that if he does get fired, I expect Robo-Cop to walk through the door and 'liquidate' him

[oa92000]

I think Geithner is right.. S&P is a piece of shit itself..

[sbenard]

These people are so utterly deluded or deceitful that not a single syllable from their mouths can be believed!

[tony bonn]

tim geithner is a stupid cunt

[chinawholesaler]

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