Geithner Says World in Better Position to Handle Oil-Price Jump

OMG, do they really think we are ALL that stupid?

U.S. Treasury Secretary Timothy F. Geithner said the economic recovery has put the world on a better footing to withstand the increase in oil prices caused by turmoil in the Middle East. “The economy is in a much stronger position to handle” rising oil prices, Geithner said today during a Bloomberg Breakfast in Washington. “Central banks have a lot of experience in managing these things.”

www.bloomberg.com...
It continues to amaze me that our "leaders" think we really believe this kind of propaganda.
$140 oil will translate to $5 gas here in the US.
Double Dip is a forgone conclusion

reply to post by fltcui
If this is what Geithner says, then I believe reality will be just the opposite.

Why do I think that?

Because he is the keeper of that house of lies.

ETA: Double dip is their way of making it sound like ice cream, it will not be sweet.

reply to post by fltcui


Does anyone actually send these people an email stating how full of it they are? They release these "reports" without any background information and expect us to go along with it on blind faith. Has anyone tried contacting those people and request the documentation that they used to make these determinations, I mean really try to make them justify their decisions? I know they will stonewall us but at least need to keep the pressure on them.

Originally posted by fltcui
OMG, do they really think we are ALL that stupid?

U.S. Treasury Secretary Timothy F. Geithner said the economic recovery has put the world on a better footing to withstand the increase in oil prices caused by turmoil in the Middle East. “The economy is in a much stronger position to handle” rising oil prices, Geithner said today during a Bloomberg Breakfast in Washington. “Central banks have a lot of experience in managing these things.”

www.bloomberg.com...
It continues to amaze me that our "leaders" think we really believe this kind of propaganda.
$140 oil will translate to $5 gas here in the US.
Double Dip is a forgone conclusion

Can you say SDS, DXD, or QID? This is not advice, this is "advisement", that your financial planners are aware of instruments of the "long" nature, that you can capitalize on this double dip, if your so inclined to believe its a forgone conclusion. I tend to agree with the Op... and I genuinly believe Geithner said the exact same thing to the oil barrons, a couple weeks ago, just prior to the egyptian uprising.

Geithner is one of the biggest crooks in the history of mankind.

I live in Canada, rumor and reports I have been hearing say that the unrest in the Middle East will not effect Canadian economy as much as other countries because we are more of an exporter than an importer. That being said, a price increase to as much as $1.60/L is speculated by the summer.

According to Roger McKnight, the Senior Petroleum Advisor with En-Pro International, prices are probably going to go up by at least three cents.

"You're going to see a huge jump (Wednesday). I'm telling you. It's going to be wild," he says. "Tell people to fill up (Tuesday) afternoon and not leave it to later tonight."

McKnight says with the turmoil in the Middle East and North Africa, speculators think there's going to be a problem with the supply of oil. But, as it stands, supply is not problem.

"We have a huge glut of supply when I look at the U.S. numbers. We have a horrendous amounts of crude. Lots and lots of gasoline and diesel," says McKnight.

It has always been beyond me as to why people just listen to this lie over and over again. Unrest in other parts of the world effect the price of oil... while a logical person thinks about where their oil actually comes from and wonders what the Middle East has to do with any of it.

Driving to work this morning I did not notice a significant difference in the price of gasoline, I believe the highest I saw was $1.06/L and this is the price before receiving a 5cent/L discount if you have bought more than $30.00 of groceries at Safeway recently. One week ago, the prices was .98/L, 2 weeks ago the price was .93/L (after discount mind you) and tonight it will be 1.01/L. So much for a price JUMP overnight, they have been slowly raising it for weeks now...

reply to post by fltcui


SAY WHAT ???
Secondline

He really means that HE is able to withstand the increase in prices along with his banker buddies and politicians. With the amount of money they stole from us they will be very comfortable. Whenever the press releases this stupidity thinking that we are gullible enough to believe it I suddenly get visions in my head of Mussolini hanging upside down.