Monday, July 18, 2011

Geithner Opens His Piehole, Markets Crash...

Call it "The Obama Effect"...

Jeff Carter on Tim Geithner's interview this morning (which he describes as "chilling") on CNBC before the bell rang (video at the link):

With regard to the debt ceiling, Geithner doesn’t offer up a compromise at all. It’s the administration’s way, or the highway...

Listen to his words on Dodd-Frank: “Don’t listen to the bankers because their interests aren’t aligned with the American people.” It could be a phrase right out of Atlas Shrugged....

Hear his words when he speaks about the stimulus. Even in the face of the facts that the stimulus didn’t work, he lies to the public and defends it. We might not even be having the debt ceiling debate if we hadn’t passed a Keynesian fiscal stimulus.

Listen to him talk about tax increases on the wealthy. Geithner is all about using the heavy hand of government to redistribute wealth to the government. 71% marginal tax rates wouldn’t sate him. 100% marginal tax rights might.

Every single statement he makes is all government centric. I guess you should expect no less from a career bureaucrat....

And lo, it is no surprise then to see A follow B:

Stocks take a dive; gold tops $1,600 an ounce

Moody's warns again on U.S. debt

US Stocks Fall In Monday Selloff On Debt Nerves; DJIA Off 174

Except Obama and his acolytes are too smart for the simplicity of A following B.  No, there are other, hidden causes, ones which have nothing to do with them or their policies writ large.  You have to be as brilliant as they are to see that today's crash had nothing to do with Tiny Tim's words, or Obama's polices, oh no - it's the rich, and the Republicans, and their lousy capitalistic system which is causing the markets to tremble in fear every time an administration official opens their fat mouth.

They'll tell each other that, read the crooked polls cooked up by their cronies in the media, and sleep peacefully.  While we writhe in agony, getting poorer every day, and fearing the next inane utterance from the king or his foppish princes...

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