Geithner Says US Can Withstand EU Debt Crisis(What about the U.S. Debt Crisis?)

Dow Jones Newswires ^ | 4/27/12 | Dow Jones Newswires

[mdittmar]

U.S. Treasury Secretary Timothy Geithner said the U.S. is now better positioned to deal with the European debt crisis and its economic relationship with China has improved, in an interview with American Public Media's Marketplace radio program.

"The U.S. financial system is in a very strong position to withstand any pressures they may see from Europe," Geithner said in the interview.

"But again it's important to acknowledge that Europe is a big part of the global economy so if they were to mismanage their crisis it would have a material impact on growth," he said.

[mdittmar]

I always see a lot headlines about the EU Debt Crisis.

The U.S. Debt is now $15,624,347,610,476.87,soon to be 16 TRILLION DOLLARS!

If we paid down the U.S. Debt by $1 million dollars a day for 2000 years,it would only add up to $730 billion dollars,yet I don't see many headlines about the U.S. Debt?

[EGPWS]

U.S. Treasury Secretary Timothy Geithner said the U.S. is now better positioned to deal with the European debt crisis and its economic relationship with China has improved, in an interview with American Public Media's Marketplace radio program.

Skittles, unicorns, and rainbows.

These people should be lashed, tarred, and feathered in public!

[Olog-hai]

US recession is tied to the EU’s financial crisis too tightly.

[Wurlitzer]

I’d take advice on marital fidelity from the Secret Service and Bill Clinton before I would listen to Geitner on any financial issue.

[Brilliant]

What he really means is that the US needs the EU debt crisis in order to make it look like the dollar is not declining in value.

[allmost]

Look over there, do not look here.

[FlingWingFlyer]

He’ll always be known as Turbo Tax Timmy the Tax Deadbeat to me. What he says means nothing.

[familyop]

Yes. Our media have saturated us for a long time with the distraction campaign about the EU. Most political folks want to keep US bonds high, because they depend on the debt regime for their incomes. They’re fattening that debt and quickly sucking it into their accounts, because they already sucked the life out of our economy.

[Fee]

Problem is how much derivatives is US banks on the hook for in EU sovereign debt? If very little then why did we indirectly fund the ECB in lending money to EU banks to refi a small country like Greece unless EU banks and US banks made leveraged bets on them and have no assets to cover a Greek default. MG Global is the tip of the iceberg on leveraged bets all US banks via their parent holding companies made.

[EVO X]

Something is going on. Homes are blowing out faster than during the peak of housing bubble in my neck of the woods.
It has been so fast there hasn’t been any sales prices available yet. Being in a college town this is generally the peak time of year for housing sales. But since I live in Illinois, people are likely moving away from Illinois and not towards it.

[EVO X]

Something is going on. Homes are blowing out faster than during the peak of housing bubble in my neck of the woods.
It has been so fast there hasn’t been any sales prices available yet. Being in a college town this is generally the peak time of year for housing sales. But since I live in Illinois, people are likely moving away from Illinois and not towards it.

[yldstrk]

really

[preacher]

Related Geithner story:
Geithner's Full Of Crap: The Bank Bailout Wasn't "Profitable" -- It Will Cost Taxpayers $120 Billion
http://www.businessinsider.com/geithners-full-of-crap-the-bank-bailout-wasnt-profitable-it-will-cost-taxpayers-120-billion-2012-4#comment-4f98419669bedd2e2000003f

[mdittmar]

US banks made leveraged bets on them and have no assets to cover a Greek default

Debt is not good.

[RedMDer]

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