Wednesday, August 4, 2010

Geithner Says Unemployment May Rise Before Falling But This is a Sign of an Economic Recovery: WHAT???

Treasury Secretary Timothy Geithner, it yet another of his increasingly bizarre statements that conjure up the worst of Yogi Berra, says that unemployment rates may rise in the near term before falling but this is really a sign of an economic recovery.


WHAT???


This is like saying before you start to make money you have to lose a lot more.


There have been many great U.S. Treasury Secretaries in the past history of the United States.


Alexander Hamilton
Salmon P. Chase
Andrew Mellon
Henry Morgenthau


Timothy Geithner will never be on this list.  If I didn't know better, I'd swear he's demonstrating the best self-parody of a Treasury Secretary in history.


The calls for his resignation are from the right and left.  Here's a great article from the Huffington Post proving his need to go is not partisan.  Everyone from across the political spectrum realizes this hack needs to leave Washington and go where he can do no more harm, say an igloo in Northern Alaska.


The U.S. economy and especially the U.S. real estate markets cannot recover at the rate necessary for national survival and prosperity with Geithner at the top of Treasury.  He may be a nice man who loves old people and puppy dogs but as a financial professional he's illiterate and says things that would make even Yogi Berra wince.


Robert J. Abalos, Esq.