1. #1

    Tim Geithner: 3 reasons the economy is slower.

    http://finance.yahoo.com/blogs/break...190253628.html

    "The trauma from Europe?"

    Did anyone else laugh when you saw/read this? I can agree with Government spending and let slide the oil price reason but Europe is the #1 reason this joker decided to come up with?

  2. #2
    Actually, a lot of the people who work the stock market depend on European stability when making buying/selling decisions.
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  3. #3
    Herald of the Titans Beavis's Avatar
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    Not sure if serious.

    The European sovereign debt crisis is going on 3 years now. That's the biggest source of risk in the global economy by far.

  4. #4
    He could of said a number of different things i.e. Weak consumer spending, Housing market fall, jobs recovery, etc... but no.... Europe is the reason.

  5. #5
    Herald of the Titans Beavis's Avatar
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    Quote Originally Posted by Son of Lothar View Post
    He could of said a number of different things i.e. Weak consumer spending, Housing market fall, jobs recovery, etc... but no.... Europe is the reason.
    He could say those things, but he thinks Europe is the biggest problem. He's certainly not alone in that assessment.
    Last edited by Beavis; 2012-07-18 at 10:01 PM.

  6. #6
    So if it isn't Europe what is it then? I'm inclined to agree that the fact the eurozone is on the brink of collapse is a reason why the US growing slowly. Sure it's not the only reason, but it's probably the biggest reason. It is a global economy after all.

  7. #7
    You do realize every US based company is posting some serious earnings growth, but are putting a shit ton of cash back for a reason? Everyone is expecting one or two countries to drop of the Euro due to their debt/GDP ratio being terrible.

    I would put congress being useless #2 on my list of what is holding back the economy. Bernanke basically testifies before congress every other day saying the fed can only do so much lol

  8. #8
    Quote Originally Posted by Noobadin View Post
    So if it isn't Europe what is it then? I'm inclined to agree that the fact the eurozone is on the brink of collapse is a reason why the US growing slowly. Sure it's not the only reason, but it's probably the biggest reason. It is a global economy after all.
    I think the economy "could" or "will" be majorly affected by Europe. I don't think that's the reason right now though. European banks are at the center of the crisis over there is it not?

  9. #9
    Quote Originally Posted by Son of Lothar View Post
    I think the economy "could" or "will" be majorly affected by Europe. I don't think that's the reason right now though. European banks are at the center of the crisis over there is it not?
    Our banks are extremely in bed with the banks over in Europe. That is the problem with globalization. It goes under the same dumbass theory that crashed housing. As long as everything keeps going up you got no problems lol

  10. #10
    Herald of the Titans Beavis's Avatar
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    Quote Originally Posted by Son of Lothar View Post
    I think the economy "could" or "will" be majorly affected by Europe. I don't think that's the reason right now though. European banks are at the center of the crisis over there is it not?
    No, it's governments, not banks.

  11. #11
    Quote Originally Posted by Son of Lothar View Post
    I think the economy "could" or "will" be majorly affected by Europe. I don't think that's the reason right now though. European banks are at the center of the crisis over there is it not?
    Big risks, "The European trauma"-> American Companies/banks ends up being careful-> American economy takes a hit.

    Thats the basics. American companies and banks got a lot of interest in the European market, just as European banks and companies got a lot of interests in the US market.
    The nerve is called the "nerve of awareness". You cant dissect it. Its a current that runs up the center of your spine. I dont know if any of you have sat down, crossed your legs, smoked DMT, and watch what happens... but what happens to me is this big thing goes RRRRRRRRRAAAAAWWW! up my spine and flashes in my brain... well apparently thats whats going to happen if I do this stuff...

  12. #12
    The economy could be recovered in a week, just let the oil boys live on their grandios wealth (don't worry, they will be ok) for awhile with gas at 50 cents a gallon and suddenly everything starts rolling again. The fact they sit in their piles of bling and don't do that is ample evidence they are deliberately sucking as much life out of us as possible, though as any parasite, only to a point that the host can still survive.

  13. #13
    Merely a Setback Reeve's Avatar
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    Quote Originally Posted by Beavis View Post
    No, it's governments, not banks.
    It's both. In Greece, Italy, and Portugal, it's the government. In Spain, it's the Cajas de Ahorros, which are banks. Of course Spain's government is also not in great shape to deal with the issue, but if the Spanish banking system weren't in terrible shape, Spain's governmental debt wouldn't look so bad. It was also the banks in Iceland.
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