Wednesday, September 8, 2010

Geithner channels behaviorists

The following consists of excerpts from Treasury Secretary Tim Geithner's interview on the PBS News Hour of September 8th, and my comments. Geithner was interviewed alone by Jim Lehrer, so there was no free trade in ideas here, either - it's all behaviorist propaganda designed to string us along while they put the final nails in the global economy's coffin.

Geithner: this crisis was much more damaging than almost anybody thought. [It's always nice when the Treasury Secretary opens a discussion by admitting he's clueless.] It's going to take us a longer time to dig out of this hole. [Dig out of a hole? Doesn't digging make holes deeper? In fact, that's what they're doing - digging us in DEEPER.] It's going to be harder because the damage was so severe and so savage. [Which explains why they didn't notice at first.] That process is going to take time. [You are feeling very sleepy ... don't expect results soon, but just rumors of explosive growth from members of the Obama administration.]
[...]
And what the president is trying to do and what our responsibility in Washington is to try to do is to try to figure out ways to help reinforce this recovery, get people back to work more quickly. [What ever happened to the "free market?" Aren't we supposed to just shut down the government, stand back, and watch prosperity spontaneously appear, like Hawking's claims about a Creator-less universe?] And what the president laid out today was the smartest, most sensible set of ideas that we could find to help reinforce this process of recovery. [A lie - it was a manipulation, just as was Geithner's appearance on The News Hour, to give us the impression that he's doing something, to string us along. IT'S ALL HOT AIR. NOTHING WILL HAPPEN UNTIL OBAMBA IS "RESIGNED." JUST STEP AWAY FROM THE PRESIDENCY, MR. OBAMA.]
[...]
JIM LEHRER: But he said over and over again -- he said it not for the first time, but he said it over and over again today -- that he inherited this, that this didn't happen on his watch. This happened on -- in the other watch. [Was Lehrer coaching/prompting Geithner?]

TIMOTHY GEITHNER: But that's, of course, unassailably true. When the president took office, the American economy, the envy of the world, was falling off the cliff. Growth was declining at an annual rate of about 6 percent. We were losing three-quarters-of-a-million jobs every month. The American financial system was in freefall.
[...]
Private investment -- not public investment, not the government, but private investment in the United States expanded at an annual rate of 20 percent a year in the first half of this year, stronger in the second quarter than the first quarter. That's encouraging. It's slowed a bit since then, which is one reason why it's a good idea now to sort of take additional actions to help stimulate private investment. [You mean like giving them a few trillion bucks?]
[...]
What the president did was absolutely essential. Nothing would have been possible without it. Without the president of the United States and the Federal Reserve acting aggressively to stop an economy in freefall, help put out that financial fire, nothing would have been possible. [Gawd - how pathetic can you get? This is the Secretary of the Treasury!]
[...]
But you can see the president of the United States acted with extraordinary speed and a lot of political courage, because he knew that all the things necessary to start to arrest that crisis, repair the damage, were going to be politically unpopular, difficult to do, and he was willing to take that risk, as he should have been, because that was the responsible thing to do. [Now he's just lying his butt off. Obama's actions are worsening the crisis, and that's why he's unpopular.]
[...]
And he said from the beginning -- and this is absolutely critical to -- for people to understand, which is, we are going to keep at this until we repair the damage, we get Americans back to work. [Oops - how did that BP script get in there?]