Thursday, August 04, 2011


Stock Market not calmed by debt deal!

For months, Obama's Treasury Secretary Tim Geithner warned of catastrophe if the U.S. failed to avert a default on it's debt obligations. In at least one instance he warned of a run on the "broader financial system -- similar to what happened in the wake of the collapse of Lehman Brothers. As the recent financial crisis demonstrated, a severe and sudden blow to confidence in the financial markets can spark a panic that threatens the health of our entire global economy."  Similar dire warnings were issued with regular frequency.

Well guess what? Geithner got his new $2.4 trillion credit card on Monday and the Dow Jones Index did this:

Total Drop in five days: 7.0%

Do Obama and his economic team have the slightest credibility left?

No comments:

fsg053d4.txt Free xml sitemap generator