Economia
Gingrich: Economy headed 'off a cliff' Says Obama response is 'more of the same' Jon Ward (Contact) Monday, February 2, 2009 Former House Speaker Newt Gingrich on Monday morning painted a dire picture of the U.S. economy, saying that it is headed "off a cliff" and that President Obama has failed to bring fresh and original thinking to the problem so far. Mr. Gingrich, 65, said that the nightmare scenario used by top financial officials to persuade President Bush into crafting the $700 billion bailout last fall is still on the way. "Probably I would have voted yes," Mr. Gingrich said of the bailout, "just because if you have the secretary of the Treasury and the Federal Reserve chairman saying to you, 'Vote yes or we're all going to go off a cliff.'" "Well, the fact is, we're all going to go off a cliff. That's what's happening. This is a much more profound problem than people think," said Mr. Gingrich, a Republican from Georgia, during a breakfast with reporters and columnists organized by the Christian Science Monitor. "I keep getting told there's another [$1.2 trillion] in losses coming down the road, minimum. Goldman Sachs, I think, said Friday, $4 trillion to finish bailing out the banks," he said, predicting another "three to five years, at a minimum, of working our way through this." And Mr. Gingrich, who has earned a reputation for irascibility, slammed the Obama administration's current response. "The continuity between the Bush bailout and the Obama bailout will be mildly amazing. This is not the change you can believe in. This is more of the same," he said, mocking one of Mr. Obama's campaign slogans. Mr. Gingrich's harshest words were reserved for recently confirmed Treasury Secretary Timothy Geithner, whom he mentioned repeatedly as a symbol of the government and business class refusing to learn lessons. "Geithner is fronting for the banks. Frankly, that's what I think Paulson ended up doing. Paulson ended up being a Wall Street deal-maker who was happy to take your money to bail out Wall Street deal-makers. That's not the purpose of the secretary of the Treasury." --- http://washingtontimes.com/news/2009/feb/02/gingrich-economy-headed-cliff/
- China - Fim Do Milagre?
China: For Many Expats, It's Not Worth It By Dexter Roberts “There is talk of the U.S. ‘falling off a financial cliff,’ but right now I think China is closer to the edge of that cliff, and that it’s also a steeper cliff than ours.”...
- Eu - Trilhões De Dólares Deficits Orçamentais Por Anos
WASHINGTON – President Barack Obama's budget would generate deficits averaging almost $1 trillion a year over the next decade, according to the latest congressional estimates, significantly worse than predicted by the White House just last month. The...
- Krugman Quer Mais Gastos Públicos
Paul Krugman escreve: "President Obama’s plan to stimulate the economy was “massive,” “giant,” “enormous.” So the American people were told, especially by TV news, during the run-up to the stimulus vote. Watching the news, you might have...
- Bailout
March 5 (Bloomberg) -- U.S. Treasury Secretary Timothy Geithner told Congress the Obama administration will act to make sure the nation’s largest financial companies can get government help if needed to avoid collapse. “It is very important -- and...
- Eua Em Bancarotta
Is It Time to Bail Out of the US? By Paul Craig Roberts January 28, 2009 "Information Clearinghouse" -- "California State Controller John Chiang announced on January 26 that California’s bills exceed its tax revenues and credit line and that the...
Economia
Crise financeira entra fase do colapso
Gingrich: Economy headed 'off a cliff' Says Obama response is 'more of the same' Jon Ward (Contact) Monday, February 2, 2009 Former House Speaker Newt Gingrich on Monday morning painted a dire picture of the U.S. economy, saying that it is headed "off a cliff" and that President Obama has failed to bring fresh and original thinking to the problem so far. Mr. Gingrich, 65, said that the nightmare scenario used by top financial officials to persuade President Bush into crafting the $700 billion bailout last fall is still on the way. "Probably I would have voted yes," Mr. Gingrich said of the bailout, "just because if you have the secretary of the Treasury and the Federal Reserve chairman saying to you, 'Vote yes or we're all going to go off a cliff.'" "Well, the fact is, we're all going to go off a cliff. That's what's happening. This is a much more profound problem than people think," said Mr. Gingrich, a Republican from Georgia, during a breakfast with reporters and columnists organized by the Christian Science Monitor. "I keep getting told there's another [$1.2 trillion] in losses coming down the road, minimum. Goldman Sachs, I think, said Friday, $4 trillion to finish bailing out the banks," he said, predicting another "three to five years, at a minimum, of working our way through this." And Mr. Gingrich, who has earned a reputation for irascibility, slammed the Obama administration's current response. "The continuity between the Bush bailout and the Obama bailout will be mildly amazing. This is not the change you can believe in. This is more of the same," he said, mocking one of Mr. Obama's campaign slogans. Mr. Gingrich's harshest words were reserved for recently confirmed Treasury Secretary Timothy Geithner, whom he mentioned repeatedly as a symbol of the government and business class refusing to learn lessons. "Geithner is fronting for the banks. Frankly, that's what I think Paulson ended up doing. Paulson ended up being a Wall Street deal-maker who was happy to take your money to bail out Wall Street deal-makers. That's not the purpose of the secretary of the Treasury." --- http://washingtontimes.com/news/2009/feb/02/gingrich-economy-headed-cliff/
loading...
- China - Fim Do Milagre?
China: For Many Expats, It's Not Worth It By Dexter Roberts “There is talk of the U.S. ‘falling off a financial cliff,’ but right now I think China is closer to the edge of that cliff, and that it’s also a steeper cliff than ours.”...
- Eu - Trilhões De Dólares Deficits Orçamentais Por Anos
WASHINGTON – President Barack Obama's budget would generate deficits averaging almost $1 trillion a year over the next decade, according to the latest congressional estimates, significantly worse than predicted by the White House just last month. The...
- Krugman Quer Mais Gastos Públicos
Paul Krugman escreve: "President Obama’s plan to stimulate the economy was “massive,” “giant,” “enormous.” So the American people were told, especially by TV news, during the run-up to the stimulus vote. Watching the news, you might have...
- Bailout
March 5 (Bloomberg) -- U.S. Treasury Secretary Timothy Geithner told Congress the Obama administration will act to make sure the nation’s largest financial companies can get government help if needed to avoid collapse. “It is very important -- and...
- Eua Em Bancarotta
Is It Time to Bail Out of the US? By Paul Craig Roberts January 28, 2009 "Information Clearinghouse" -- "California State Controller John Chiang announced on January 26 that California’s bills exceed its tax revenues and credit line and that the...