Click for audio

Category: Bailouts, Economy

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

12 Responses to “Geithner: Confident About Economic Rebound”

  1. I don’t believe a word Geithner says. Then again, he has to say what he did regardless of what he actually believes. Of course that will make him look like a fool down the road but that’s how it goes.

  2. you know, it says, a lot, about Us that ol’ TTT is Our Secretary of the Treasury.

    wtf is up, with that?

    and, as CJ&the13th A., says above, from the Scene previous: “Here, read this, and remember, the tape will be rolling..”

  3. jp says:

    I can understand Geithner’s duty to cheerlead the economy, although I feel it’s my duty to share the truth.

    That said, it’s ironic how the former head of the NY Fed is jawboning an economic rebound and reassurance of “financial security.” Meanwhile, the very department he graduated from foresees a deepening decline in homeownership, the nest egg of millions of Americans: http://www.newyorkfed.org/research/staff_reports/sr418.html.

    According to the report, it acknowledges meanginfully increased likelihood of those who have negative equity will ultimately decide to return the keys. It sees the homeownership rate moving from the current 63.6% homeownership rate (as of 1Q 2009) to decline 11.9% to 51.7%:

    “The adjusted FirstAmerican Core Logic estimate is that 13.5 million owneroccupied
    primary residences were in negative equity as of the end of the first quarter of 2009.
    … The implied homeownership gap based on the FirstAmerican Core Logic data is 11.9 percentage points. Taken together these estimates of the homeownership gap imply that a significant downward adjustment in the measured homeownership rate is possible over the coming years.”

    Such a repudiation of debt may mute any debate of a V-shaped recovery, and I hope will at least keep some hope of an L-shaped.

  4. km4 says:

    What else do expect Geithner to say when when you’re a simpleton tool for Corporatocracy and Banking Oligarchs whose job is to try and keep the ‘extend and pretend’ ruse alive.

    Can’t wait see what this clown says when government prop for the economy is taken away and the second dip occurs that will be nasty.
    http://www.ritholtz.com/blog/2009/12/the-recession-is-over-but-the-depression-has-just-begun/

  5. Advocatus Diaboli says:

    I am surprised that you have missed the similarity to Peter Sellers character in ‘Being There’, especially the part about “growth returning in the spring”.

  6. davossherman@gmail.com says:

    No offense Barry: Geithner is an utter and absolute moron. Who cares what he is confident about?

  7. davossherman –

    Its important to know what the official Treasury line is — I dont agree with much he says; I also liked the aggressive line of questioning . . .

  8. davossherman@gmail.com says:

    @Barry:

    Point well taken, I’m just so over listening to his and Bernake’s drivel, just seeing their mug shots without them holding a Federal ID number makes my blood pressure peak. I’m certain the Great Recession IS over because with 21.8% (Shadow Stats) and 28% (Youngstown U) Unemployment the Great Depression HAS begun. No consumers = no economy. Something CNBS doesn’t grasp. Next year as we print 2-5 trillion our dollar will be toast. The state of the economy is and will be meaningless with a burning dollar.

    Happy Holidays.

  9. randyt says:

    a little ot but interesting. http://www.snagfilms.com/films/title/american_ruling_class/. found this on another site. it’s about an hour and a half long. if you’re snowed in and have some time to kill it’s worth watching.

  10. Geithner: Confident About Economic Rebound

    uh oh! :shock:

  11. number2son says:

    I’ve spent more time talking to community banks than any one person on Wall Street

    Is he kidding? Does anyone believe this lie? Anyone!

  12. jdmckay says:

    BR said:

    I don’t agree with much he says;

    How much?