Swan Song

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As Tim Geithner embarks on his campaign for confidence in China, it seems not everybody is so sure that Timmy G and the boys back in Washington have this whole running up massive debt levels and record fiscal deficit thing quite under control. Former Chinese central bank advisor Yu Yongding wants to check Geithner's homework to see if the numbers actually add up or if he is just looking at the answer key at the back of the book.
Among the objectives the Obama administration has claimed it will achieve is a reduction in the fiscal deficit from its current level of 12.9% of GDP to approximately 3%. In response to this laudable but lofty ambition, Yu wants to know if "Geithner can show us some arithmetic. We need to know how the U.S. government can achieve this objective." Meanwhile, in a galaxy far, far away, the His Black Swaness, Nassim Taleb, appears to have already done the arithmetic and is not so convinced of the new math the Treasury and Fed are using.

Universa Investments LP, which has links to "Black Swan" author and New York University professor Nassim Nicholas Taleb, is starting a hedge fund to bet that efforts by governments and central banks to end the global recession will lead to hyperinflation, the Wall Street Journal reported, citing Taleb. The fund will invest in commodities and options on oil and gold stocks, the Journal said.

So let's get ready to rumble- will defending champion Nassim Taleb (obviously wearing the black trunks) retain his title of being right at the expense of most of the free world or will up-and-comer Tim Geithner score an unexpected knockout blow? Only time will tell but conventional wisdom says always bet on black.


Tim Geithner Is Not Leaving This Fiscal Cliff Deal To Chance

Yes, he said that he'll stay 'til this thing gets done but FYI, he's already booked a one-way ticket out of this dump and it's nonrefundable, so if you think he's gonna just stand by while you people fumble around and fuck everything up, thereby prolonging his stay in this asylum one day longer, think again!

Congressman Was This Close To Telling Tim Geithner He Was Cruisin' For A Brusin'

“You can smile and laugh about it all you want,” Rep. Jason Chaffetz (R., Utah) bristled at Mr. Geithner during a House Budget Committee hearing. Mr. Chaffetz then intoned he was getting sick of the Treasury secretary’s “silly little smirk.” To be sure, Mr. Geithner did have a smile on his face during parts of the hearing, particularly when he was interrupted by Republicans on the panel when they didn’t like his answers on deficit reduction. He even spent part of the hearing answering questions with his arms crossed. At one point, he suggested that Rep. Tim Huelskamp (R., Kan.) had an “adolescent perspective” on how the economy worked.