(AP:WASHINGTON) Treasury Secretary Timothy Geithner says the economic recovery “could be a little choppy” and it’s going to take a while.
Geithner told NBC’s “Meet the Press” that bringing back jobs and the confidence of investors will be the real test of recovery. He declined to say whether the recession is over, saying economists will figure that out years from now.
Recent encouraging news in the economy “shows that _ when you act with force _ you can stabilize a crisis like this,” he said in the interview that will air Sunday.
“But this is going to be a different recovery than in the past because Americans are going to have to save more. A lot of damage was caused by this crisis. It’s going to take some time for us to grow out of this.
“It could be a little choppy. It could be uneven. And it’s going to take awhile.”
He noted, however, that he’s seeing encouraging signs.
An excerpt of the interview was released Saturday night.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Our Country is upside down like a car that is worth less than the car note against it. All we (USA) can do, is try to sucker somebody into giving us loans or we can just print up more money to make the note seem like less money. Eventually, we will have to change to a new currency, probably IQD, since it will be backed by oil and we have control of that area with our military. It's justy a matter of time.
.DXY and .VIX
THAT is what counts for me. Whatever Geithner, Obama, Bush, Nixon, The Taliban, Hitler do/did will be reflected in these two indexes. I'll trade accordingly.
I'm a trader, not a politician.
With greetings from Old Europe, where here in Germany the economy has shown small signs of improvement. The unemployment rate dropped from 8% in September to 7.7% in October. Even though many believe the job situation will worsen over the next 6 months, I'm surprised to see a general sense of optimism in this heavily export-dependent country. Re-elected chancellor Merkel, with a new pro-business coalition partner, appears poised to continue her path of tax cutting and currency stability. Who knows, there may be trading opportunities to explore...
The country is on autopilot. The presidents and their hencman don't matter. Now things going to be better as:
1. Stocks will go up, either by productivity increase (layoffs) or inflation.
2. Dollar will go up, as other countries suck even more.
3. Gold will go up as the neurotics will rush in. Historically gold has been beaten by even fixed deposits accounts.
4. Realestate will go up because of low interest rates, first time buyers competition, inflation and nice inventories falling down.
5. Debt will go down as imports falling because of low local demands.
The market has a few down days and look at the world.
everyones ready to neck themselves, its been going up non stop for 4 months, get over it, did you think it was gonna keep going up til it did a backward flip...
I agree with Joe H. Let's get back to the reason we subscribed to Market Club.
Adam: I can get garbage comments by listening to R.L. on the radio. I don't. Unless Market Club removes this type of response to financial information of import I will look elswhere with my subscription money.
Can we please get back to discussing investment strategies. All this bluster is available on all kinds of channels I'm not paying for. I thought this was supposed to be about making money. Let's get on with that.
You don't think what this administration is doing has anything to do with the markets. Have yoou been asleep? Wanna know how to make money? Bet against everything this administration does.
I have been trading since Feb. 09! I have known nothing but choppy since I started! I don't know anything else! My view is that Geitner needs to avoid saying anything that can be negative! He can't be overly optimistic either! Tough spot to be in for us, him and everyone else! I agree with one of the comments above! We are all in this together! There is plenty of blame for every one to share! Lets get through this together and keep our attitudes right! Be careful and don't be overly anything! Trade and watch your back! Here's to good trading!
This whole mess has been brewing since the FED was covertly created
by a few very wealthy bankers many years ago at place called Jeckel
Island. The rich get rich and stay rich by controlling the money and
the people. We all know we are in a world of $h1t. Everyone wants to
bitch and moan and complain about it, But don't have the balls to stand
up for themselves or what they belive in. It's time to "flush the toilet"! WE THE PEOPLE have to clean house on capital hill. Some of
these SOB'S have been there for decades. We should set term limits for
all polititions.
The only way to stop this insanity is at election time.
Vote every incumbent out of office and if that doesn't get the message out, the following election has to be the same message. We must do this again and again to get Washington to listen to the people electing them.
Jimmy
could be a little choppy, my bass! the mkt's are rolling over the banks look terrible now,the whole thing is a magic act,lifting a body with no strings attached, the ropes holding the banks up are starting to frey, BUST!! WERE INN THE START OF WAVE 3 DOWN ,GETTA TABOGIAN IT'S GOING TO BE A LONG RIDE!!!
Manufacturing and jobs shipped overseas gutting this nation like a fish.
U.S. "currency" a laughing stock.
Morality dumped on by abortion and buggery and now in the "new" "health care" bill denial of care to the elderly.Does this look like a war on the American population?
Republicans or Democrats to blame? It looks to this correspondent that these two parties are merely the left and right arms of the same monster. Left and right arms of the same body do not oppose each other except for the amusement of children or to squabble over some scraps from the table...And just who is setting this table if it isn't the two bit politicians?
Did this clown ever go to school and pass anything. He's a joke like the rest of them that manuevered the US into the mess it's in...
I'm from the government and I'm here to help you 🙂
On a more serious note..."when you act with force" is a red flag to me. What is the next act of force?
Mr market told us what he thought of the positive GDP figures the day after their release. As Adam says "The market will tell you where it wants to go" price action is very important. Having said that, some reputable commentators I follow who are far more informed than me are saying the cash for clunkers and other government stimuli are responsible for most of the positive GDP. Their policies and their actions will be recognised for what they are in the fullness of time, it just a shame that it will be too late for many people.
The dollar index is challenging the primary down trend line and if - as suggested by the futures volume - it breaks above the swing point at 77.50 I expect a short covering fireworks show. I'd hazard a guess that were entering into a deflationary swing down.
As a UK citizen, one thing I have to say Geitner has going for him over his UK counterpart (Darling) is.......the colour of his eyebrows matches his hair 🙂
All the best
Robin
Glöm inte,att krisen har gjort en DEL MYCKET rika,och sitter nu och väntar att köpa tillbaka allt för SMÅPENGAR
Maybey if timmy didn't push the repeal of the Glass- segal act in the early 90's or when he was in NY he could have reined in those bad boys and the garbadge they were selling.Then we wouldn't be in the fix were in now
Here's the deal, The wealthy live very well off the rest, they just spend your money for you, and when they run low, they just take more...
You're just what I was talking about.
All you could answer was flushing a toilet.
Get a life or give me a answer as to who left the debt, passed huge amount money, no strings attached, to the banks before leaving office, started a WAR for what REASON, BUT BS AND HIDE THE TRUTH? WHY DIDNT THEY GO AFTER THE TALIBAN AT THE GET GO?
I suppose I can expect another toilet answer frome your type.
If so, this is the end of my conersation on this subject.
GOOD LUCK WITH THE R.P. PARTY AND GOD HELP US TO SURVIVE THEM
!!!! AGAIN !!!!
Be very afraid, the sky, Uhh the dollar is falling! Run, Run.
Who set this up with unregulated markets, unfunded wars?, we don't have time to talk about that, Run, Run.
What are our plans? Plans?? The dollar is falling, Run, Ruin, Run
Health care will kill the USA. The Canadians, the Australians, the French, the Germans, the Brits are all dead. Be afraid, Run
Our plans after the elections, don't have time. The Dollar is falling, Run.
We must keep the Up-tick rule down, Buying = Selling, Giving = Stealing, don't think, just run.
Vote for ME, the Grand (Very) Old Panic, G.O.P.
I am an airline pilot and when we tell the passengers ther is going to be a little chopy it means buckle your seatbelts.
very well said!
"Why blame them?
Think back and remember the BUSH Administration.
They LEFT a bag of S—-T for someone else to fix.
They were left with a surplus, WHAT HAPPENED TO IT?
THAT PARTY MUST THINK ALL PEOPLE ARE STUPID.
ALL THEY DO IS RIP OFF THE POOR AND LIE TO THE VOTERS."
....so instead of flushing the bag of s--t, obamana his boys lay it out where everyone can step in it....a loser "helping" losers....God help US!
... "a little choppy".
And the Titanic "took on a little water"
We seem to get hung up in all this doom and gloom talk about the economy healthcare, jobs. But the fact of the matter is that we are all in this together, no matter who is in charge. I love all this talk of how good things are, or how bad things are. What I like to focus on is that life continues to chug along and we need to make the best of it. So my take on things is, yes things are not great, but not extremely bad either.
Most of what we hear really depends on what side of the tracks you're on.
So to make my point, relax because no matter what our government says and does one way or another somehow the stock market will continue to make its way up. And that my friends will eventually drive our economy up.Things will get better, or else we can kiss our a-- goodbye. Listen to what is really driving these markets, the media is the number one player in this roller coaster. Learn to listen and act. Most of the time it is all orchestrated one way or another, just be sure to listen. You will prosper there is no other way
in fact, what he said is not important for trading. market only reflect the underline force, not by his one time opnion. what he said is just a few words and what he said will not change anything that is happening now. if we emotional to what he said, we are going to be a loser.
"A little choppy"... and the Titanic "took on a little water".
Why blame them?
Think back and remember the BUSH Administration.
They LEFT a bag of S----T for someone else to fix.
They were left with a surplus, WHAT HAPPENED TO IT?
THAT PARTY MUST THINK ALL PEOPLE ARE STUPID.
ALL THEY DO IS RIP OFF THE POOR AND LIE TO THE VOTERS.
most people are ignorant not stupid. and the poor have nothing to rip;-off at this juncture.As where the money went can you say --bankster
DIVE! DIVE! DIVE!
Geithner says the economic recovery “could be a little choppy” and it’s going to take a while. This guy and the entire administration are either stupid or just don't care. Can he please state something that isn't so obvious? No joke it is going to take time but it will never happen if this administrations policies go through. We are going to see more unemployment, higher inflation and definitely a much lower dollar.
Geithner says the economic recovery “could be a little choppy” and it’s going to take a while. This guy and the entire administration are either stupid or just don't care. Can he please state something that isn't so obvious? No joke it is going to take time but it will never happen if this administrations policies go through. We are going to see more unemployment, higher inflation and definitely a much lower dollar. See Congressman Michelle Bachmann speak out against SPEND NOW AND LET SOMEONE ELSE PAY LATER. SHE ALSO TALKS ABOUT WHAT IS HAPPENING TO THE DOLLAR!!
http://stockshotz.blogspot.com/2009/10/government-policies-taking-us-back-to.html
Bachman-please!!!!!!!
Doug is right, the dollar IS being intentionally destoryed, 'orderly decline" is what they hope for, good luck with that! Smart money is flooding into GOLD as a safe haven play against the inevitable hyper-inflation... I disagree with the Bachmann comment, she is a tool, imho.