Posted on 09/03/2009 2:35:23 AM PDT by TigerLikesRooster
America's Timothy Geithner says it's 'too early' to withdraw economic stimulus
Timothy Geithner, the US Treasury Secretary, said it's 'too early' to withdraw the unprecedented stimulus governments have given the world economy as there is a 'long way to go.'
Published: 9:02AM BST 03 Sep 2009
Timothy Geithner, the US Treasury Secretary, has said it's too early to withdraw the economic stimulus packages
Mr Geithner made the remarks to reporters in Washington as he set off for a meeting of finance ministers from the G20 countries in London this weekend. The gathering comes before a meeting of G20 leaders in the US city of Pittsburgh at the end of this month.
“You’re seeing the first signs of positive growth now in this country and countries around the world,” Mr Geithner said, according to Bloomberg. “We’ve come a very long way but I think we have to be realistic, we’ve got a long way to go still.”
Mr Geithner said that the London meeting will discuss a framework for how the world's biggest economies can start to withdraw the stimulus packages that have ranged from injecting new capital into banks to lending billions to struggling companies such as General Motors.
The leaders will assemble in Pittsburgh five months after the much-heralded April meeting in London at which the world's richest countries pledged more than $1trillion to help pull the global economy through the recession. Analysts reckon the meeting may see splits between countries over when to rein in the stimulus and over how to regulate the financial services industry.
(Excerpt) Read more at telegraph.co.uk ...
Tim knows that the $650 billion dollars in unspent "Stimulus" money are really democrat campaign funds for the 2012 election.
If you don't believe it just wait and see.
injecting new capital into banks to lending billions to struggling companies such as General Motors
Liquidity is what Keynesian-Giethner wants
http://en.wikipedia.org/wiki/Keynesian_economics
Keynesian economics argues that private sector decisions sometimes lead to inefficient macroeconomic outcomes and therefore advocates active policy responses by the public sector, including monetary policy actions by the central bank and fiscal policy actions by the government to stabilize output over the business cycle.[1]
If this wasn’t so pathetic it would be hystericaly funny. We have Little Timmy and his boss, the boy POTUS, directing the largest economy on the planet.
Yes, those who actually own and operate the economy are finally turning the corner in overcoming your deliberately destructive actions in destroying it, ie. the manufactured credit/banking crisis.
“We’ve come a very long way but I think we have to be realistic, we’ve got a long way to go still.”
What do you mean "We" whiteman?...Nothing you have done has had any effect other than prolonging the joblessness and suffering.
All you did was prop up government jobs, the very ones that needed to be cut in order to help real working people.
My hubby and I saw “Mr. Smith goes to Washington” last night. What a great movie for these times!
That’s the ticket. Continue failed policies. Works every time.
It will “always” be too early to withdraw the stimulus. This is why, when inflation finally and eventually hits, it will be 15-20%. They will leave the money on the table way too long and then tell the banks, “please give it back now”, to which the banks will answer...
PAR-TAY!!!!!!!!
The result? Monster inflation.
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