Then, over the next two decades, whenever the Chinese stood up…Mao shot them down himself. Mao’s long march to power was a huge setback for human political progress – if there is any.
October 2nd, 2009 | Bill Bonner | 0 comments | ContinuedAll Posts Tagged With: "Tim Geithner"
China Has Stopped Stockpiling Metals
There are several components of demand. There’s real economic demand (you need the stuff to make other stuff). There is investment demand (you’re buying it in order to make a profit from what you think the price trend is. There is also pure speculation, and it’s possible that some middle-men were flat-out speculating by buying alongside China’s State Reserve Bureau (sort of like the banks and brokers in the U.S. buying Treasuries ahead of the Fed late last year to improve Q4 earnings).
July 1st, 2009 | Dan Denning | 1 comment | Continued
Can Government Bureaucrats do a Better Job of Allocating Capital than Free Markets?
They’re allowing a handful of economists – who failed the critical test; not one of them noticed the market tsunami coming last autumn – to direct the flow of trillions worth of savings. They’ve already put at risk more than $12 trillion.
June 29th, 2009 | Bill Bonner | 1 comment | Continued
Capitalism Has to Do its Work
Our phone rang yesterday. You know, the hotline we set up to help Treasury Secretaries and Finance Ministers cope with the problems of the global financial meltdown?
We picked it up…it was Tim Geithner!
April 2nd, 2009 | Bill Bonner | 0 comments | Continued
The Geithner Plan
Investors appeared to absolutely love the U.S. Treasury Secretary’s plan to subsidise private sector purchases of toxic bank assets. The Dow closed up nearly 500 points, or 6.8%. The S&P closed up seven percent. The move gave stocks in New York their best two-week gain since 1938, according to Bloomberg.
March 24th, 2009 | Dan Denning | 8 comments | Continued
Geithner and His Toxic Asset Bailout Plan
Here we go again. Maybe this will be the week that historians look back on and say, “That’s when it all started to get better. Geithner came out with his toxic asset bailout plan. China stimulated. Stock markets bottomed. The crisis ended and the world got better and better forever and ever.”
March 23rd, 2009 | Dan Denning | 5 comments | Continued
Geithner Ex Machina
After all, this was “the gravest global economic crisis in a half-century,” as then-World Bank economist Joseph Stiglitz called it before today’s global crisis showed up. So you needed the best minds, from the biggest and brightest international bodies, to jet in…survey the trouble…prescribe a solution (while signing a check)…and then jet out again, back to whichever hushed corridors they had just emptied.
March 13th, 2009 | Adrian Ash | 0 comments | Continued
A Time of Contradictions, Paradoxes and Oxymorons
The socialists are the only ones protecting the free market, now. Americans are scuttling it with every chance they get. The stocks of capitalist companies are going up in communist China…but in America, they’re going down. Since November, the Shanghai index has outperformed the S&P by 75%.
March 6th, 2009 | Bill Bonner | 2 comments | Continued