I post this excerpt and link only because of it’s monumental and historic cluelessness. Treasury Secretary Timothy F. Geithner wrote a New York Times piece several weeks ago entitled, incredibly, “Welcome to the Recovery,” in which he says, among other things:
“The devastation wrought by the great recession is still all too real for millions of Americans who lost their jobs, businesses and homes. The scars of the crisis are fresh, and every new economic report brings another wave of anxiety. That uncertainty is understandable, but a review of recent data on the American economy shows that we are on a path back to growth.
The recession that began in late 2007 was extraordinarily severe, but the actions we took at its height to stimulate the economy helped arrest the freefall, preventing an even deeper collapse and putting the economy on the road to recovery.
The combined effect of government actions taken over the past two years — the stimulus package, the stress tests and recapitalization of the banks, the restructuring of the American car industry and the many steps taken by the Federal Reserve — were extremely effective in stopping the freefall and restarting the economy.
We suffered a terrible blow, but we are coming back.”
Wow. Breathtaking, but it explains everything. Seeing the world thru Geithner’s eyes explains why we should really be fastening our seatbelts.
The full article –
