Posted on 07/12/2009 8:08:36 PM PDT by Son House
Geithner is expected to repeat assurances that the government's soaring budget deficits will not trigger a devastating bout of inflation that sinks the value of the dollar and foreigners' holdings.
High-level meetings
Geithner is scheduled to hold high-level meetings on Tuesday and Wednesday with top government officials and leading business executives in Saudi Arabia and the UAE.
"We have a fiscal policy that will ultimately undermine the value of their holdings and that has got foreign investors nervous," said Mark Zandi, chief economist at Moody's Economy.com.
On Monday, the government is expected to announce that the deficit through the first nine months of this budget year hit an historic milestone in June, topping $1 trillion.
In the UAE, Geithner will meet with officials of government-run investment funds, known as sovereign wealth funds, which have poured billions of dollars into US banks and other companies. The Saudis also recycle significant petro-dollars into US investments.
- US efforts to combat terrorist financing
- The possibility of increasing sanctions on Iran if it does not forgo its nuclear programme
- Measures being considered in the United States and other countries to try to avoid a repeat of the current financial system crisis, the worst to hit America in seven decades.
Treasury officials said that Geithner would give his British and French counterparts an update on the administration's efforts to overhaul financial regulations and jump-start the economy with a $787 billion stimulus plan.
(Excerpt) Read more at gulfnews.com ...
Just an excerpt of some salient points, full article at link
Traveling Snake Oil Salesman Ping!
These fools sure are a bunch of jetsetters. Always flying off to somewhere. You’d never know we are in “the worst economic crisis since the Great Depression.” We won’t even go into their “carbon footprints.”
How stupid do Obama and his ilk think the world is???
Geithner is going to use his eloquence and obvious genius to persuade the camel jockeys to keep buying our worthless paper.
The sheer magnetic compelling quality of our president and all his men is truly supernatural.
Every little boy needs a toy and little Timmy Geitner has the entire U.S> economy to play with.
I STILL think he looks like that jerk in Ghost Busters II who worshipped “The Terror of the Carpathians”.
actually for the next anyhow the dollar will remain strong because oil prices will collapse. but opec won’t like that much either.
I will be shocked if anyone receiving this snake oil salesman and his trinkets believes a word he says.
Timmy Taxcheat doesn't have a clue. I swear, any of us could do just as well, maybe better.
Geithner is headed to Saudi and the UAE to talk to them about SWF (Sovereign Wealth Funds).
This will be the beginnings of Sharia Law in America. Read about it in Foreign Affairs last month.
Bad news.
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