• 07 Oct 2009 at 11:49 AM

Tim Geithner Plays Fortune Teller

By Greg Michaels

geithner-2.jpgShould you encounter your future self anytime soon, the Treasury Secretary believes you may have trouble recognizing yourself. The American of the future will be a more financially disciplined individual. Gone are the days of spending money you don’t have. Forget about leveraging yourself to “afford” a lifestyle of luxury. Things are going to be different here and the world is simply going to have to deal with it.

“Everyone is going to have to come to terms with the fact that we are going to save more in the United States,” Geithner said in an interview with German weekly Die Zeit

So that it’s it then. We are suddenly going to flip the switch that has been set on ‘spend’ for a generation to ‘save’. Seems a bit ambitious but if TG believes that we can turn last year’s economic lemon into lemonade by changing the way we think about money and making sure there is more coming in than going out in the future, maybe it’s worth giving it a try. Show us the way Timmy. Show us how actions speak louder than words and how the government will provide a good example for all Americans to follow.

“If you look at past crises, politicians mostly made the mistake of tightening the purse strings too early,” he said.

So close.
Geithner says Americans will have to save more [Reuters]

Comments (15)

  1. 1
    Posted by guest | October 7, 2009 at 11:59 AM

    *pin drop*

  2. 2
    Posted by Anal_yst | October 7, 2009 at 12:08 PM

    SO Geithner’s grand scheme for bringing back economic growth is to make people spend less.
    Interesting…

  3. 3
    Posted by guest | October 7, 2009 at 12:08 PM

    *rolling tumbleweed*

  4. 4
    Posted by guest | October 7, 2009 at 12:14 PM

    *slapping forehead

  5. 5
    Posted by guest | October 7, 2009 at 12:17 PM

    *crickets*

  6. 6
    Posted by CoveredLong | October 7, 2009 at 12:18 PM

    Greg – Not bad at all…and you didn’t even get your inspiration from Bloomberg. Things are looking up…mediocrity, here we come.

  7. 7
    Posted by guest | October 7, 2009 at 12:31 PM

    Tell him to ‘Get F**ked’…I’m trying to keep my job so I can keep spending!

  8. 8
    Posted by guest | October 7, 2009 at 12:36 PM

    @7 National Boss Day (USA) coming up on the 16th, get some witch hazel on that ass. The bossman hates a wizard sleeved o-ring.

  9. 9
    Posted by EvilBuzzard | October 7, 2009 at 12:37 PM

    SO when Geithner doesn’t pay taxes he’s not a cheater. He’s just evolved into a new type of consumer with a higher savings rate.

  10. 10
    Posted by guest | October 7, 2009 at 12:39 PM

    @7
    Tell him to ‘Get F**ked’…I’m trying to keep my job so my wife can keep spending and not become an ex-wife!

  11. 11
    Posted by guest | October 7, 2009 at 12:41 PM

    YEAH!! he’s right…we can all save more by not paying our taxes just like he did
    http://www.youtube.com/watch?v=HvmnQypjBUY&feature=player_embedded

  12. 12
    Posted by guest | October 7, 2009 at 12:46 PM

    Actually one of the better posts I’ve seen from you Greg. Hopefully this can somehow keep up although I’m not entirely optimistic.

  13. 13
    Posted by P. Krug | October 7, 2009 at 1:38 PM

    @ Analyst
    No you little puke. The idea is for government to spend more and people to spend less. Remember, I’ve got a Nobel and you don’t so anything I say must be immutable economic law. Suck on my prestige!
    -Your favorite hairy economist

  14. 14
    Posted by guest | October 7, 2009 at 1:55 PM

    Greg,
    Here’s another unsurprising article to post. Go for it, Tiger.
    “GM Falls Short on Some Goals, CEO Says”
    http://online.wsj.com/article/SB10001424052748703298004574459101334336622.html?mod=WSJ_hpp_LEFTWhatsNewsCollection

  15. 15
    Posted by guest | October 7, 2009 at 11:14 PM

    Greg, an actually decent post, nice to see you didn’t shit on yourself this afternoon. Please keep it up, please.

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