Skip to comments.Geithner on TV – “Keynesian economics has failed”
Posted on 07/10/2011 7:00:02 PM PDT by Nachum
Some refreshing words from the Treasury Secretary, Tim Geithner this morning on Meet the Press. He had this to say: (15:20 into this clip) Note: An 8 second clip of Tim's words: Link
We dont have the ability (because of the overhang in housing and the problems in the financial sector) to engineer artificially a stronger recovery.
Imagine that! Geithner acknowledges what I (and many others) have felt all along. The structural issues in the economy trump the governments ability to engineer a recovery.
The Fed has taken extraordinary measures on the monetary front. Since 2009 we have had $1.2 trillion of fiscal stimulus measures as well. We have had TARP and the bailouts of Fannie and Freddie. But the evidence is clear that it has not worked. Unemployment is today near a record and the more important measure, U6, is at 16.2% (about where it was a year ago) Nothing that has been done has moved the needle.
(Excerpt) Read more at zerohedge.com ...
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Sounds like he’s saying it failed, not that they intend to stop.
This revelation surpasses the Einsteinian quote that the “definition of insanity is trying the same thing over and over, and expecting different results.”
He’s gone one better by admitting that he knows the results will be the same, but he does it anyway.
Arrest him and his. He can not get away with that after all this.
If he was kicking at the end of a rope, it might
encourage the others...
Yeah, and Kenyan economics failed also.
Reagomics and Supplyside economics 1 Socialistic Keynesian economics 0
Keynesian supporting Liberals keep on slamming the successful Reaganomics because it’s too conservative for them, and they don’t want too admit the success of Reagan.
Krugman has been functioning without a brain. Bad heart won’t trip him up.
uh, the gov’t *never* had the ability to engineer anything except for what it has (again):
Sounds like hes saying it failed, not that they intend to stop
i.e. Thats the way it’s always been done, which is why only a complete new group of REPS can address todays issues. These hacks are not capable to the task needed.
Obama failed. That is the message. O will go down in history as the one who F’ed up America. That’s his legacy. Geithner is being PC, bottom line, he’s saying this administration failed the US.
Tim Geithner couldn’t count his balls and get the same number twice.
With some smart people in charge (and there are none in sight) the stimulus could have been avoided, some laws and regulations not been passed and we could be on our way out instead of digging in.
Instead of agonizing over raising the debt limit, just say no and get onto reining in EPA and strangling regulations.
If these limo liberals did not revise history in service to the “progress” of Marxism and beleive one another’s propganda, they would already know centralized economies do not work.
Tim Geithner couldnt count his balls and get the same number twice.
POST OF THE WEEK, FOLKS, POST OF THE WEEK!!!
VULGAR, YES, CRUDE, YES! BUT TRRRUUUUUUUE!
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Kenyanesian Economics have failed too.