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Jim Rogers "Mr Geithner has never known what he's doing, he doesn't know what he's doing now"

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posted on Feb, 11 2009 @ 09:02 PM
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From everything I understand, and what economists are saying, the stimulus is exactly opposite what we should be doing. We should let failing institutions fail, and not invest in them. If anything if we have to invest taxpayer money, we should invest in strong companies that are growing. We should start saving money, which is used to loan out to strong investments. We should support high profit companies that create jobs (remember when congress dragged oil companies to testify?). Government should be positive like Regan was when the GDP dropped 6%, the GDP dropped less than 3% and the nations' leaders keep hinting the sky is falling.

Jim Rogers "Mr Geithners' been bombing for 15 years. Mr Geithner caused this problem....he caused this problem...Mr Geithner has never known what he's doing, he doesn't know what he's doing now and pretty soon everbody's going to find out" (0:26)

Interviewer quotes Bill Gross (Pimco) "Unless we get more government funding we're in for a second wave of a global crisis" and throwing in Mini Depression as a risk. (3:26)

Jim Rogers "If we do get more money we're going to have a depression. Mr Gross has it exactly wrong!" (3:38)

Interviewer "What did you want to hear from Geithner"

Jim Rogers "...He did cause the problem..."




[edit on 11-2-2009 by Dbriefed]




posted on Feb, 11 2009 @ 09:52 PM
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I would agree with that. Tax cuts for companies who are making money would be better then bailing out those that are failing and aren't likely to be able to turn their situation around regardless of how much cash you throw at them. Then the companies who were doing well because of their good business practises would have additional funds to increase their market share and employ some of the people who would be left unemployed by the failing companies. That said, I think it's important to understand the government can't fix the economy. The best it can do is to create the best situation possible for the economy to correct itself.



posted on Feb, 13 2009 @ 12:31 AM
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I see the video disappeared...

Retry:


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