Geithner- at best a case of innocent subversion.


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Appreciate it if anyone can get me a meeting with him.
This policy is a major threat to our standard of living, and he apparently doesn’t know it:

Geithner Sees G-20 Consensus, Supports Dollar’s Reserve Role

By Rebecca Christie

September 25 (Bloomberg) – Treasury Secretary Timothy Geithner said he sees a “strong consensus” among Group of 20 nations to reduce reliance on exports for growth and defended the dollar’s role as the world’s reserve currency.

“A strong dollar is very important in the United States,” Geithner said in response to a question at a press conference yesterday in Pittsburgh, where G-20 leaders began two days of talks.

Geithner predicted agreement on an Obama administration proposal to foster a global recovery that avoids lopsided flows of trade and investment. He said a higher U.S. savings rate this year is an “encouraging sign,” and he indicated that government support for markets will be withdrawn gradually.


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7 Responses to Geithner- at best a case of innocent subversion.

  1. Dave Begotka says:

    Obamaboom!!!

    HAHAHAHAHAHAHAHAHAHA

    Reply

  2. Warren Mosler says:

    I’m now 60 and hoping to retire at 62 when those social security checks come rolling in, my boat is finished, and I can sell the rest of my assets into the Obamaboom!!!

    Reply

  3. Imelda Marcos says:

    I once was asked why I needed so many fashionable shoes and clothes that cost so much. I answered so that the poor in the slums of my homeland would have some hope and could look to me for the brighter future they might have one day. Most are still in the slums and starving to death, but anyways lets look at the larger picture. There are 7 billion miserable people on this planet, and we need to make the entire USA one big partay la vida loca society so that the rest of the world can have hope and look up to the USA and all her lagresse and high standard of living to keep them motivated working. If we start making older workers work longer instead of shorter, retire later instead of sooner, this source of HOPE will be destroyed and the thin veneer of social global stability we have now will come unravelled, the poor masses will have nothing to look forward too and the whole world will descend into chaos as predicted in Revelations. I know Warren Mosler wants to retire at 59 1/2, not 85, or am I wrong on that Warren? Mosler 2012 is our last hope!

    Reply

  4. Captain CraZ says:

    I have seen on several blogs commenting about the charts Peter Orszag just released about older workers having to stay in the workforce longer. Some of the blogs even comment how this is a GOOD thing because it keeps SKILLED workers employed longer and reduces the tax burden of younger taxpayers. I do not understand Warren, I want my kids to retire at 30, and my grandkids to retire at 20, while asia man works till he is 100, is this not the goal of some of he policies you advocate, to increase the standard of living here in the USA? How will my grand daughter ever catch up to imelda marcos’s shoe collection if she has to work all day instead of shop? Peter Orzag and friends are ruining this country for the shopping machine princesses, what a disgrace, hell my great granddaughter was about to born into a society where from cradle to grave, all she does is shop all day long, with these government policies, she might actually have to get a job once or twice in her life – DISGRACEFUL! Lets put a stop to Orszag and friends and making USA citizens work longer, Mosler for president 2012!!

    Reply

  5. deficit terrorist says:

    “major threat to our standard of living”

    Warren you are so correct, and it confuses me to no end where Timmy the tax cheat is coming from. Every shopping machine princess I meet knows the PINNACLE Of life is how many gucci bags and shoes you have in your closet and how many starbucks lattes you can drink and feed to your poodle in your purse while you waste your day away. They understand that living as a QUEEN that is SERVED by every other human, animal and robot on this planet is the GOAL to work towards as a society. But here we have Timmy saying NO NO NO, lets make some of those american shopping machine princesses put down the gucci bag and the poodle and go get a job. Lets turn some of queens into workers and take away thier high lifestyle and put a little wage slavery back into thier life – WHO THE HELL does tim geithner think he is doing this? Really, my imelda marcos friends are going to start doing like that guy did to Bush over in the middle east and throwing thier whole shoe collections at these politicians/banksters if they don’t keep the USA way of life going. I was DUMBFOUNDED watching Cspan last week that people said they WANT a trade war with china so they can WORK instead of sit back and drink starbucks all day and watch Cspan and Read Moslerconomics – how did our citizens get to be so STUPID that WORKING and being HUMBLE and MEEK was good? I think they sat in sunday school listening to that crap from the bible too long about inheriting the earth :( Count me in with you and Sada, la vida loca BABY – USVI and blue drinks on the beach while china man works himself do death serving me – HERE I COME!

    Reply

  6. warren mosler says:

    he wants the rest of the world to export less to the US, and the US to export more to ‘regain balance’ which would be a major negative for our real terms of trade and standard of living.

    and yes, seems he would favor weak dollar to get this done.

    i think the yen, for example, is about at the political limits and the boj may soon start buying fx.

    Reply

  7. knapp says:

    What exactly is Geithner saying? If there is a G-20 agreement to be less dependent on export growth, doesn’t that mean a higher Chinese yuan? How does that jive with his “strong dollar” comment?

    Reply

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