Geithner States Economy Headed Toward Rebound: But For Whom?

In an interview with CNN published several days ago given by Timothy Geithner, Secretary of the Treasury, Mr. Geithner stated that the economy is giving signs that it is headed for an eventual rebound.

But my question is: for whom? And just who has he spoken with recently, or what statistics is he using?

The last several months have seen the amount of foreclosures and also those jobless continue to escalate at unprecedented levels. Recently, Congress just assessed what is potentially going to be the largest increase in taxation in this country since the 16th Amendment with respect to Americans utility bills, which are already off the charts in most areas of the country: The Cap & Trade tax.

Conservative estimates have been that this new scheme for the Wall Street brokers and bankers will most likely increase Americans utility bills the first year alone over $1,400 per PERSON. Not household.

The most massive layoff ever occurred recently in Detroit, one of the cities hardest hit also with the foreclosure mess. Those middle class GM workers I'm sure are much appreciative of the anticipated extention of unemployment benefits they will receive. Most of which are less than half of their former salaries. And that $600 credit isn't going to go very far paying those utility bills either.

If Mr. Geithner's predictions are based upon the "global" market and Wall Street, then Mr. Geithner, Mr. Obama & those on the Hill have certainly insured its survival with all the legislation since the "bank bailout" fiasco, for an industry that has progressively also escalated their "junk fees" and costs in their "flex loan" offerings for those mortgages they sold to the American public and then resold on the "global" exchange.

While also lobbying for changes in the bankruptcy code precluding Americans from writing off any of their usurous fees and costs should they actually use some of that great credit and have an unexpected large expense arise, such as ballooning property taxes and insurance costs, that makes them unable to pay that double digit interest.

Of course, the Americans lost their homes, while the foreigner iinvestors recouped their investments, enough to even send their highest paid executives to a retreat at one of California's Four Star resorts. California, of course, being the home of the lenders who underwrote most of those bogus loans.

Which then turned around and pleaded bankruptcy, when Silicon Valley must be making money hands over fist due to the continuing war, and the telecom bill that just resulted in many Americans having to ditch their antennae and pay instead for cable subscriptions to "stimulate" the telecom companies profit margins even more.

Mr. Geithner must be polling the financiers who are profiting with his predictions is the only conclusion I could come to after reading the piece since it was truly difficult to pinpoint just what he is using as his crystal ball, of course at the cost of Joe the Plumber for these progressive Wall Street stimuluses, who I am sure doesn't have a lot invested in the stock market other than maybe a college fund for his kids.

Although that also won't tie him over once those "global warming" taxes also kick in, not to mention the health care he most likely will now have to fork over for his journeymen apprentice helpers under the new L. Ron Hubbard/Orwell Universal Health Care Plan.

Tell me, Mr. Geithner, just whom were your consulting for your predictions? And since a great many now are on the breadline, or the homeless shelter, just where is the investment capital going to come from with so many Americans now living hand to mouth as it is, or saving for those "global warming" taxes once they hit?

I know, the "global" community will continue to buy up most of America's industrial base, and its infrastructure at an even faster clip than it already has. I hear the French are now invested in the Grand Canyon and that new platform they just put in, and I'm sure could come up with a down payment on the rest since I do believe they still have some extra cash and some of those dollars of ours which helped during the rebuilding after World War II?

Have you arranged for the realtor and "for sale" sign for the White House yet?

Oh, heads up America. In the article Mr. Geithner did indicate that in order for this recovery to progress and have the desired result, there most likely would have to be some increases in taxes in the form of a VAT or value added tax on manufactured goods which will, of course, raise prices again for the consumers.

And he also spoke of what "success" of the Cash for Clunkers program which was funded at 1 billion and provided for $4,500 for people who traded in their older gas guzzlers for newer, fuel efficient models.

But I question whether the success of this program is as was represented, since with the average automobile now, with all the bells and whistles and computers now involved, well over $20,000 even for the lower end models, in most states that credit wouldn't even pay the license, sales tax and registration fees.

Seems another "stimulus" instead meant for the state and local coffers more than anything.

Certainly not for the auto industry, as stated in the article, since those GM plants in Mexico and China are humming right along and due to the cheap labor and with that Hummer deal thrown in to China to sweeten the deal as our major creditor at this point from the propaganda on the MSM, GM isn't hurting and had one of the fastest bankruptcy restructuring (post bailout) ever for a major U.S. corporation.

And John McCain, of course, was also interviewed. And gave credit somehow also to the "success" of the stimulus.

I wonder if he's been back to Arizona recently, or spoken with many in the Grand Canyon State, one of the top three consistently in home foreclosures? Or visited and walked through some of the wash areas in metro Phoenix or Tucson lately? Or visited the local soup kitchen because there are quite a few Joe the Plumbers there due to the amount of day laborers who have taken many of their jobs as those small businesses and construction trades do seem to be some of the primary employers in most areas of the country right now.

So cheer up, Middle Class America, Mr. Geithner has things well under control....for the "global market economy," which your are subsidizing for what is nothing more than world "economic" socialism.

As Mr. Obama said: We all must make sacrifices.

Maybe a start would be that all federal employees must also divest themselves of their taxpayer paid health care plans and benefits, and sign up for the new "government" sponsored program to help cut that deficit and be on parity with their constituents in this government initiated economic crisis. And their federal pensions contributions sliced and switched to 401(Ks) heavily invested in U.S. industries, rather than their global investment portfolios.

Isn't it time those on the Hill practiced what they preach and layoff a few of those government workers?

After all, the recently published staff budget for the White House alone is over 32 million with over 400 employees.

I think Adams had less than six, and it wasn't even done yet.