Prolonged Government Role

For those who hoped that the government bandage would be pulled off quickly as the economy heals, I have some very bad news for you.

Geithner Pledges Prolonged Effort to Stabilize Banks (Update2)

Jan. 22 (Bloomberg) -- Timothy Geithner, President Barack Obama’s nominee for Treasury secretary, pledged an expanded and prolonged government role in everything from stabilizing banks to ensuring credit for small businesses.

January 8, 2009


Obama Warns of Prolonged Crisis Without Stimulus Plan

Without a stimulus plan, it would seem to me that the crisis would intensify rather quickly but most certainly resolve itself within a year or two as the entire global banking system collapses. Just a hunch. Of course, we'd probably have to learn some new job skills. Some might learn looting. Others might learn basic firearm maintenance. There's just no telling what the new economy might hold in stores for us, pun intended.

In sharp contrast, a massive stimulus package should prolong the crisis well into the distant future as a gift for both us and our grandchildren. I have to say that it does seem to be the lesser evil. I'm probably a bit biased though. I don't have any grandchildren.



Well, as you might imagine you know I never thought that as a, as a, Congressman that I would come to a country that has way too much debt, eleven trillion dollars, and say let's do something that's going to add to that debt. - Rep. Jim Himes, Former VP of Goldman Sachs

Oh, I don't know. I'd like to think I have a fairly vivid imagination when I put my mind to it. Just look at my 125% pie chart.