Geithner's Goal: Rebalanced World Economy .

Wall Street Journal ^ | 10/20/10 | Damian Paletta & David Wessel

[Nachum]

Treasury Secretary Timothy Geithner said he would use weekend meetings of G-20 finance ministers to advance efforts to "rebalance" the world economy so it is less reliant on U.S. consumers, to move toward establishing "norms" on exchange-rate policy, and to persuade others the U.S. doesn't aim to devalue its way to prosperity. In an interview with The Wall Street Journal, Mr. Geithner said the world sorely needs to agree on guidelines for exchange-rate policy. "Right now, there is no established sense of what's fair," he said. He also said the U.S. is pressing the Group of 20 industrial and developing

[Nachum]

It's...........Tim

[Nachum]

The list, ping

Let me know if you would like to be on or off the ping list

http://www.nachumlist.com/

[meyer]

Basically, the same goal that the unemployed thief has as he busts through your front door to steal your TV. Only in the case of the low-life thief, you can defend yourself with deadly force if necessary.

[mo]

You’d think the twirp would settle for balancing his own taxes....

[beethovenfan]

FU, tax cheat Timmy.

[stainlessbanner]

Start small...like manage your personal finances, Timmah

[combat_boots]

“When the Federal Reserve is actively destroying the USA by creating so incredibly much money, for so long, so that idiotic bond buyers are finally reduced to realizing a laughable after-tax 1% yield - if that! - from their investment in bonds, while suffering an 8% loss of buying power of all the money they have, and the value of everything they have, because of inflation, are these bond buying people half-witted lowlife morons or what?”

Fortunately, the woeful travails of bond buyers and the morons buying common equities soon leave me disinterested and bored, as I invest according to the Mogambo Investment Theory (MIT), which is to simply buy gold, silver and oil, which will tromp them all.

And with the Federal Reserve acting like it does, and the federal government acting like it does, profiting from inflation in prices by simply buying gold, silver and oil is so easy that I cannot stop myself from delightedly exclaiming, “Whee! This investing stuff is easy!”

Richard Daughty

http://atimes.com/atimes/Global_Economy/LJ19Dj01.html

[43north]

Somehow, I hear the thunk of guillotines in the future...

[irish_links]

Geithner’s suggestions are well considered and address the most fundamental problems facing the US and global economies today: the imbalances between saving and consuming nations. If only the Administration’s fiscal policies weren’t diametrically opposed them, making it unlikely that the policies can be brought to fruition.

It is comforting to know that at least one member of this egregious economic policy team seems to know what he’s doing. But then again, maybe Timmy just stumbled on this course by blind luck. Even a stopped clock is right twice a day, I suppose.

[AZLiberty]

We don't need to balance the world economy -- we need to jump-start the U.S. economy. Set free the spirit of the American entrepreneur, and good things will happen.

[LibLieSlayer]

Sure... just like he held unemployment to 8%. FU timmuh.

LLS

[Freddd]

no established sense of what’s fair-——

There it is again....what’s ‘fair’...

[Last Dakotan]

Geithner’s suggestions are well considered and address the most fundamental problems facing the US and global economies today: the imbalances between saving and consuming nations. If only the Administration’s fiscal policies weren’t diametrically opposed them,...

You're probably right given that we can't afford to be the world's consumer much longer.

[KarlInOhio]

“When the Federal Reserve is actively destroying the USA by creating so incredibly much money, for so long, so that idiotic bond buyers are finally reduced to realizing a laughable after-tax 1% yield - if that! - from their investment in bonds, while suffering an 8% loss of buying power of all the money they have, and the value of everything they have, because of inflation, are these bond buying people half-witted lowlife morons or what?”

It sounds like a startup company in financial trouble. The management tells the investors that they will have to bankrupt out unless they get more money. Well, that has a chance of working for a round or two, but then the investors will demand complete control by throwing out the original management.

Lending us money at 1% might have been presented as the only alternative to Geithner and Bernanke running the magic money machine at Zimbabwe speed and destroying our currency (along with all the bond holders' previous investments). I forsee a time soon when we can not borrow money in dollars, just like we came close to in the 1970s.

[E. Pluribus Unum]

In an interview with The Wall Street Journal, Mr. Geithner said the world sorely needs to agree on guidelines for exchange-rate policy. "Right now, there is no established sense of what's fair," he said.

Any time a Lefty talks about what's "fair," you can be sure that you are about to be screwed.