Nov 21, 2008 3:12pm
A “Geithner Bump”?
EmailThe word is flying around that NY Fed Chair Tim Geithner is Barack Obama’s choice to be Treasury Secretary…and that the President-Elect plans to announce his full economic team Monday. Traders have been looking for signals from the transition team, and the Dow Jones likes this one — bouncing from negative territory just a few minutes ago to 250 points in the black. Call it the "Geithner Bump"…
Stay tuned.
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AT LAST1 Someone had to take charge and give some direction on this economy. For whatever reason Bush & Co. have been mute and unable or willing to provide the motivation to go forward and turn this mess around.
How bad does it have to get before some confidence and calm prevale.It is not patriotic for the sellers to run like a chicken with its head cutoff. SUPPORT OUR STOCK MARKET ribbons in green and gold should go on the back of every mini van and SUV in America forthwith.
Posted by: Bonnie Kimberly | November 21, 2008, 3:28 pm 3:28 pm
Yep, they know exactly what to do. For the Democrats have set it up and played it out.
They can stop it and fix it at any time they wish.
But do not think it will be to soon, they have to stay with the play book until they have everything fall where they want it.
It is called almost Destory the economy, so the people think the only way to fix it is to make a new type of Government, a New Monentary system and a new type of economy.
Walla, the New Democracy in Motion.
Compliments of the Chicago-DNC and Friends.
George Soros and company are simply amazing.
Posted by: seah | November 21, 2008, 3:44 pm 3:44 pm
That is exactly how George Soros has done it in the past in other countries so I’m generally inclined to agree with such theories. However, I’m not so sure how much is planned or fly by the seat or your pants with this Obama team. Karl Rove and Nick Cavuto were stating yesterday that it is a big problem that there are all the soap operas over Secretary of State and Attorney General and other picks while the Dow has been plummeting since Nov. 5th — yet no comment on the Secretary of Treasury. Coincidentally Obama announces his pick today. I think he actually doesn’t know what he’s doing to tell you the truth. He’s never held an executive job in his life, managed money or dealt with any really business matter, and he doesn’t know how to make a real decision.
And, I’ll add, let’s not get so excited either about this Dow gain. We know barely anything about Geithner, and it isn’t all that uncommon for the market to surge at the end of a Friday after huge weekly losses. I expect the Dow will continue the downward spiral next week. I for one would love to scoop up some bargains, but I like other investors, expect come January, increases in government spending/programs, increases in income, corporate and capital gains taxes, and we haven’t heard anything to ease these fears. That is the real reason for the plummeting market. Period.
George Soros does truly manipulate economic crashes and does make money getting in at the bottom when the markets pick up again, but I don’t believe he has the power to turn this crashing sock market around (he’s rich, but not that rich).
Posted by: scecil | November 21, 2008, 6:39 pm 6:39 pm