Posted on 08/24/2013 7:35:59 AM PDT by Perdogg
I am listening to Larry Kudlow's radio show and he just said his source says that Obama may select Taxcheat Timmy to head the Federal reserve despite the conventional wisdom that the job is either going to Janet Yellen or Larry Summers.
Despite what you may think of his opinions, Larry has good sources.
ping
Entirely likely. Obama HAS to keep the Fed from becoming the focus of an outside audit. If it was, the auditors would find massive massive debt it is hiding. Much of the debt is exacerbated by the fact that the Fed is causing over 1 Trillion per year to be used to purchase T-Bills and NSYE stocks at the tune of 85 billion per month. All fake, all electronic, and all scrip - worthless unbacked promises.
The problem with this is in some quarters, particularly overseas, this will be viewed as a demotion. Most places the head of the central bank works for the secretary of the treasury.
So Kudlow is saying a guy completely unqualified will take a job viewed a step below his? As an aside when the similarly qualified G. William Miller was booted from the FED, he was given the secretary of the treasury so that the press could pretend he was promoted. Miller was similarly unqualified as Geithner is.
...worthless unbacked promises.
That's the first time, Gaffer, I've seen the President You Didn't Build That so-called "administration" summed up in a mere three words. Well said!
Now the incestuous daisy chain is complete.
Obama is just Recycling his Friends again
I’ll get blasted but I don’t have a problem with Geithner when he was at Treasury or at the NY Fed. I thought he did a great job during the financial crisis working with Paulson and Bernanke. Since he was a member of the FOMC during Greenspan and Bernanke he’s probably very knowledgable about monetary policy. Yellen is my choice but I’d take Geithner over Summers. Summers is a political animal.
As I heard, saw or read once, the phrase “He’s just a little Eichmann comes to mind.”
@larry_kudlow @LarryKudlowShow Fed Odds: Kohn 8/5, Summers 2/1, Ferguson 5/1, Geithner 10/1, Yellen: Off the Board...— Jimmy Vegas (@jimmyvegas337) August 24, 2013
Kohn is relatively dovish so that’s not a bad choice...
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