Letter from Tim Geithner

[nukz]

This ones quite a interesting read, basiclly hes saying the US will default if the debt ceiling is not raised.

http://www.treasury.gov/connect/blog/Pages/letter.aspx

 

[c-unit]

Looks like the Great Ponzi Scheme (that is, the US Government) is about to collapse. The US experience shows just how futile stimulus responses are. It is best, in times of recession, to sustain a sharp and painful contraction in the private sector rather than a long, drawn out, stagflation inducing stimulus program that does nothing but flush public finances down the toilet.

If the US defaults, global markets will tremor harder than they did during the GFC. Good time to be in cash, IMO.

 

[Dowdy]

Looks like the Great Ponzi Scheme (that is, the US Government) is about to collapse. The US experience shows just how futile stimulus responses are. It is best, in times of recession, to sustain a sharp and painful contraction in the private sector rather than a long, drawn out, stagflation inducing stimulus program that does nothing but flush public finances down the toilet.

If the US defaults, global markets will tremor harder than they did during the GFC. Good time to be in cash, IMO.

Actually a better time to be in gold/ silver if that scenario plays out

 

[tothemax6]

Yeah Geithner is always good for a laugh .

If I lent money to Bob, and then Bob said he could not pay me back unless I lent more to him, Bob is telling me that he is bankrupt. A sick dog, the US is.