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THE LESSON OF IMPATIENT PATIENCE; A GEITHNER BRIGHTENER UPDATE

Treasury Secretary Tim Geithner pointed out that we need to beware of taking steps to fix the economy and then when we see a bit of progress stopping those steps. This can be compared to someone who takes medicine to get cured, and then when he/she feels a bit better they stop taking the medicine. The probable result will be a relapse of the illness. Geithner has agreed with our theory that the key to fixing the economy is “banks a lot” (to get banks lending again), but had correctly pointed out that banks only do about 50% of the lending in this economy and the rest is from secondary market securities and other such entities. So what we need to do is not just stop with bank fixing but continue the healing process by stabilizing every lending entity in the economy until we are a once again healthy stable patient.

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