Can't Get Their Stories Straight

Five days ago:

"Geithner Sees Europe Managing Crisis Without Fallout for U.S. Economy" (Bloomberg)

Treasury Secretary Timothy F. Geithner expressed confidence that Europe will resolve the debt crisis buffeting the region and said the U.S. economy is strong enough to withstand any fallout.

“Europe has the capacity to manage through this,” Geithner said in an interview on Bloomberg Television’s “Political Capital With Al Hunt,” airing this weekend. “And I think they will.”

Geithner, 48, said he doesn’t think the European turmoil will hurt U.S. growth because “our economy is getting stronger. We’re seeing a lot of strength, improvement and confidence.”

U.S. stocks fell and the euro slumped on concern that Europe wouldn’t be able to contain the crisis. The Standard & Poor’s 500 Index declined 1.9 percent yesterday, while the euro fell below $1.24 for the first time since November 2008.

The Treasury secretary said the almost $1 trillion package that Europe put together with the International Monetary Fund was “an enormously important step” that will help countries in the region cut budget deficits.

Today:

"Fed Official: Europe's Crisis Poses Risks To US" (Associated Press)

Europe's debt crisis poses serious risks to the unfolding economic recoveries in the United States and around the globe, a Federal Reserve official said Thursday.

Federal Reserve Governor Daniel Tarullo, in remarks to a House subcommittee, said the timing of Europe's problems on the heels of the global financial crisis is a "potentially serious setback."

If the crisis were to crimp lending and the flow of credit globally, triggering more financial turmoil, that would endanger both the U.S. and global recoveries, he said.

"Although we view such a development as unlikely, the swoon in global financial markets earlier this month suggests it is not out of the question," said Tarullo.

As he testified, Wall Street took another nosedive on European debt fears. The Dow Jones industrial average was down 376 points when the market closed.

In a worst case scenario, financial turmoil "could lead to a replay of the freezing up of financial markets that we witnessed in 2008," he said. That contributed to the worst global recession since the 1930s.

Can't you guys get your stories straight?

Comments

[roger]

Can't you guys get your stories straight? HE HE....
Bravado talk is also directed at foreign investors.
we don't want them to panic. Behind erratic behavior
hide a panicky mind.They may have more on their minds
than a debt crisis, the way this crisis is solved could
could be disastrous. Europe is slowly breaking away from
the grips of the Anglo Saxon financial domination. IMF
will soon be displaced by the EMF,and contrary to popular
belief the Greek crisis is not going to break up the Union
the opposite is more likely. A Geopolitical split with world
wide impact is in the making. England and the US will be the losers
it will be a 3 block affair. Am I nuts?HE HE time will tell.

[buzzsaw99]

Turbo Timmy is headed over to the UK & Germany to lobby for JPMcSquid.

[DavosSherman]

Want a crystal ball: Geithner is a f*cking moron - and he is ALWAYS wrong

[emily]

Ha ha a moron. He is more than that. Begging to take the economy down so that they can bring in the NWO. No it is not a myth. People will be so broke and desperate for change they will be begging for the NWO. The government will have us right where they want us.

You can see more on this at http://www.forecastfortomorrow.com

[John]

@Emily

Wow, Emily, you sound so full of it that you must have just sworn fealty to Alex Jones and run his gauntlet by drink all of the Kool-Aid he stores at his "Alex Jones' 'Discount Bullsh!t Warehouse'".

NWO? Get out of here with this whole Bilderbergers/Trilateral Commission/Council on Foreign /Federal Reserve conspiracy theory stuff.

[Luke]

repeat a lie often enough and people believe it's the truth

[Tyler Elliott]

Geitner is a complete lying bastard.. read 10min ago, that he will meet with his counterparts in UK and Germany this weekend to figure how to restore confidence in the markets.. Notice how all that matters to anyone in power is the markets? Not the people.. not small businesses.. only markets.

[Bernanke is a fool]

Good point Tyler. In reality, he needs a strategy to help build the core economy. That in turn will drive the market. The government always does things backwards.

[compact digital cameras]

Timmy have such courage to spill out the lies that he tell the American public. I dont know what is worst, the facts that they are lying to us about our economy and jeopardizing our financial security, or the fact that we continue to fall for these lies.