Thursday, August 04, 2011

Don't go, Timmeh!

We don't know whether the irony was inadvertent at the NYT today with its article on Geithner, saying how he is being implored to stay on as Treasury Secretary since he's done such a bang up job and probably cannot be replaced by any mere mortal. Probably not, since the anonymous administration officials were talking to just about every major newspaper, and that takes time to set up. Just a bad coincidence?

Of course, a tanking stock market around the world is just the tip of the humongous iceberg that was left in place by Geithner and Bernanke after the last crisis. But since Geithner, Bernanke and Obama are nothing more than the lackeys of the banksters who need to collect ever more rent from the productive economies, or what's left of them, the only role these clowns have is to appear as the public face of the disaster and pretend that it is only temporary. That's why Geithner has to stay, he's necessary to maintain the illusion that any meaningful action is actually possible, when the Treasury, even if it wanted to, can do nothing to stave off disaster.

Only Bernanke has his hands on the printing press, so the sooner he starts up QE3 the better. True, that would mean that 4, 5 and maybe 6 and 7 might be necessary before the election, but at this point, why quibble. The money is illusory anyway, bypassing the real world, and going directly to the banks and the bourses before being swallowed up by the black hole.


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8/05/2011 6:11 AM  

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