jpete wrote: Devil505 wrote:
I'll ask you the same question I asked Jeff earlier: (BTW......Can you again remind us all exactly where you & Bill studied for & received you doctorates in advanced global economics? (.....I've admitted to a poor short term memory & just forget which post contained that important info which obviously would add much needed weight to your economic predictions)
I realize it's the height of ignorance for me to trust their (President Obama & a vast team of economists) predictions rather than a couple of unknown members of an Anthracite Coal help forum such as you & Bill.........Sometimes I'm just stubborn I guess
I graduated from the School of Hard Knocks and got my Phd from the College of Getting the $h!t Kicked Out of Me. And I don't need to go to an Ivy League school to understand the difference between Keynesian and Austrian economics. And now I've answered your question, now you can answer mine.
Do you know the difference between the two? There is no sense having this debate until we can define what it is we are debating.
I have already admitted something which you refuse to admit: Neither one of us is an economist qualified to pass judgment on the economic plans of this nation. I admit that & you hold yourself out as having expertise in this field.
You'll excuse me but I would rather trust someone with credentials like this:Sec of the Treasury Geithner
Geithner was born in Brooklyn, New York. He spent most of his childhood living outside the United States, including present-day Zimbabwe, India and Thailand, where he completed high school at International School Bangkok. He then attended Dartmouth College, graduating with an B.A. in government and Asian studies in 1983. He earned an M.A. in international economics and East Asian studies from Johns Hopkins University's School of Advanced International Studies in 1985. He has studied Chinese and Japanese.
Geithner's paternal grandfather, Paul Herman Geithner (1902–1972), emigrated with his parents from the German town of Zeulenroda to Philadelphia, Pennsylvania in 1908. His father, Peter F. Geithner, is the director of the Asia program at the Ford Foundation in New York. During the early 1980s, Peter Geithner oversaw the Ford Foundation's microfinance programs in Indonesia being developed by Ann Dunham-Soetoro, President Barack Obama's mother, and they met in person at least once. Timothy Geithner's mother, Deborah Moore Geithner, is a pianist and piano teacher in Larchmont, New York where his parents currently reside. Geithner's maternal grandfather, Charles F. Moore, was an adviser to President Dwight D. Eisenhower and served as a vice president of Ford Motor Company.
 Early career
After completing his studies, Geithner worked for Kissinger and Associates in Washington, D.C., for three years and then joined the International Affairs division of the U.S. Treasury Department in 1988. He went on to serve as an attache at the US Embassy in Tokyo. He was deputy assistant secretary for international monetary and financial policy (1995–1996), senior deputy assistant secretary for international affairs (1996-1997), assistant secretary for international affairs (1997–1998).
He was Under Secretary of the Treasury for International Affairs (1998–2001) under Treasury Secretaries Robert Rubin and Lawrence Summers. Summers was his mentor, but other sources call him a Rubin protégé.
Treasury Secretary designee Geithner meets Finance Committee Chairman Max Baucus on November 25, 2008
In 2002 he left the Treasury to join the Council on Foreign Relations as a Senior Fellow in the International Economics department. He was director of the Policy Development and Review Department (2001-2003) at the International Monetary Fund.
In October 2003, he was named president of the Federal Reserve Bank of New York. His salary in 2007 was $398,200. Once at the New York Fed, he became Vice Chairman of the Federal Open Market Committee component. In 2006, he also became a member of the Washington-based financial advisory body, the Group of Thirty.
In March 2008, he arranged the rescue and sale of Bear Stearns; in the same year, he played a pivotal role in both the decision to bail out AIG as well as the government decision not to save Lehman Brothers from bankruptcy. As a Treasury official, he helped manage multiple international crises of the 1990s in Brazil, Mexico, Indonesia, South Korea and Thailand.
Geithner believes, along with Henry Paulson, that the United States Department of the Treasury needs new authority to experiment with responses to the financial crisis of 2008. Paulson has described Geithner as "[a] very unusually talented young man...[who] understands government and understands markets."