WHERE THERE IS A "WILL" THERE IS A SWAY (UPDATE)

George Will pointed out that regarding the attacks on Tim Geithner and the dire unemployment challenges in this country that it will get worse. He pointed out that in 1991 and 2001 after similar unemployment downturns when the economy recovered (for a time) unemployment still got worse. What he is really saying to Obama is; don't you dare be as stupid as George H. W. Bush (president in 1991) or George W. Bush (president in 2001). Interestingly, he was then preaching patience and saying that job growth follows economic recoveries, and only now hes become a populist.

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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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A GEITHNER BRIGHTENER

Treasury Secretary Tim Geithner needs help. By everyone’s admission (the left and right) the treasury department is understaffed and over challenged. So yes, he can be nitpicked and shoved around and he certainly doesn’t have a big booming voice with a presence, but we say that what he really needs is people. There is a major deficit in the treasury and that is personnel.

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