One year ago, on an episode of Gardner Goldsmith's former radio show, Against The Grain, episode titled 'The Many Troubles With Tax Day', which aired 4/15/2008, Gardner ran an audio clip of El Presidente Georges Bush stating "The good news is we anticipated this and took decisive action to bolster the economy by passing a growth package that would put money into the hands of American workers and businesses." (9:40 into the podcast), which I suppose is a step up from Bush's most insightful "working hard to put food on your family" observation, but not by much.

Bush made the claim that he saw economic turbulence coming, yet if this were the case, why wasn't the crisis averted before it became a crisis? Why did they pursue irresponsible action through interest rate manipulation? Perhaps to willfully let the economic destruction spiral out of control to a point at which the media and public would be willing to swallow whatever solution the government could conceive of??

A year forward, and Secretary of the Treasury Timothy Geithner is making a similar argument. Through arrogance, he defends the Administration and his own claims of authority to resolve this crisis:

In a recent AP article, Geithner is quoted to say "It's very important for people to understand that, you know, it took us a long time to get into this mess. It's going to take us a while to get out of this," and that "Progress is not going to be even. It's not going to be steady."

Apparently Geithner was another one of the Bush-league level geniuses who saw it coming.... If it took a long time for this mess to accumulate, who then recognized the problem? Did anyone happen to advocate that something be done before it get worse?? Peter Schiff and Ron Paul might have something to say about that... in fact anyone with a rudimentary understanding of economics via Austrian School theory would know how to solve this!

Geithner further stated "The market will not solve this. And the great risk for us is we do too little, not that we do too much".

'You there, in the marketplace!!! You are weak and puny, powerless to act. Step aside, citizen, and let I, the Great Geithner save the entire economy from its own folly!!!' Apparently because Geithner tells us so, it must be true. It must justify his reasoning because he's an 'authority figure' on the subject of the economy. Yet he makes no such argument to logically explain how a small group of individuals, let alone one man, could possibly be the savior of the economy. The notion is absurd on its face, as economies exist by the virtue of the decisions of market actors, who make a countless number of  decisions on a daily basis to increase their state of prosperity. Encroachment upon, and manipulation of open markets by government and the Federal Reserve have only served to stifle the creation of wealth.

Quoting the AP "Obama's financial team, however, turned to Geithner in recent days to bolster its case for the economy. The former head of the Federal Reserve Bank in New York, Geithner confidently brushed off Republican criticism that too much spending would send the economy into out-of-control inflation."

Even Obama is looking to Geithner to justify his insane policies. Clearly, they don't know what they are doing!!! If they do know what they're doing, then they are putting on a public spectacle to create an aura of legitimacy and expertise, which means they still don't have any good intentions by deceiving the public.

If that wasn't enough of a red flag, Geithner went on to state that runaway inflation "Will never happen. Because we have a strong, independent Fed, with a clear authority from the Congress to keep inflation low at — stable at low levels going forward".

It seems Geithner has his own definition of what inflation is. One cannot double the currency base and not have inflation: It is inflation of the money supply! The negative effects of which are felt over time as actors in the marketplace see the value of their USD holdings destroyed.

The AP goes on to say "He also dismissed his critics, citing the nation's anger and frustration with the economy."

Clearly, anyone who opposes such brilliant policy measures is acting through the irrational emotions of anger and fear. This is a strong theme which the mainstream media continues to tout. This tactic has also been used by media pundits to sucker the public into believing that their money is safe in the stock market and that they should keep it there.

One last insight into the world of Timmeh!!!: "I would not spend a penny on helping a bank for the purpose of helping a bank," said Geithner, taking care with words that can move the markets. "Everything we're doing is for the people that depend on this financial system."

He's thinking of me! Well, I feel better already, how about you?

AP article link:
http://www.google.com/hostednews/ap/article/ALeqM5jP0xyICVMY-JLM9-wB6qWL...

Vigilia Pretium Libertatis!