Will War or a Terrorist Act Be the Excuse For a Depression???
February 07, 2010
– Comments (3)
Treasury Secretary Timothy Geithner, appearing on ABC News' "This Week," said he thinks the economy is back in growth mode and, "We're seeing some encouraging signs of healing" following better-than-expected unemployment data released Friday.
GROWTH MODE???????
We are artificially being stimulated with a two trillion dollar deficit WHILE practically EVERY STATE, COUNTY, and CITY in America is facing an unprecedented financial crisis!!!!!!
Could you imgine telling the family of a dying cancer patient that their loved one is in "growth mode" because he or she was given a strong dose of morphine while in hospice? One sure temporarily looks and feels a lot better.....but there is absolutely no improvement in the underlyaing deteriorating condition.
Geithner also expressed confidence that the risk of a "double-dip" recession is receding.
"I think we have much, much lower risk of that today than at any time over the last 12 months or so," he said. "We are in an economy that was growing at the rate of almost 6% of GDP in the fourth quarter of last year," the fastest in almost six years.
On NBC's "Meet the Press," Henry Paulson, Treasury secretary under President George W. Bush when the financial crisis began, said that, "The economy is clearly recovering. There is more certainty. Part of it is confidence and psychology ... but ultimately the private sector will do what needs to be done" to create jobs.
Joining Paulson on the program was former Federal Reserve Chairman Alan Greenspan, who said that the jobs report "doesn't signal a turnaround, but a turnaround that has already occurred that is not moving aggressively. It is going to be a slow, trudging thing."
http://www.marketwatch.com/story/story/print?guid=7D4EED89-2980-4EF5-83D3-D81E6984CD4F
Hmmmmmm. You think these guys may know a thing or two about the future????
OVER 50 **UNEXPECTED** CEO & CFO resignations in the last 3 weeks!!!!!
NOT TO MENTION A BUNCH OF INSIDER SELLING!!!!!!
Using a temporary growth in GDP due to massive deficit stimulous or the decline in the Fed's reported seasonally adjusted unemployment rate as support for an improving economy is an intellectual insult at best, or a flat out lie at its essence.
The world is going broke.....plain and simple......no matter how much we borrow.
Insolvency figures hit record high
It is just about the right time to start WW3............before the majority of Fools figure their retirement was only a fantasy.
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