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Monday, September 12, 2011

Uh Oh: Geithner Going Over to Europe To Advise

Whenever Obama or Geithner try to provide advice on economic issues, it usually results in a bad outcome. Geithner has announced he is traveling to Europe to impart his wisdom (maybe it's a good time to short the market?).

I wonder it people will recall his advice to Thailand, Indonesia and other Asian nations during the 1997 crisis. The result was a disaster - an economic depression that shrank GDP by 20%+ in some Asian countries. Former Australian PM Paul Keating, who was running the country during the crisis, reminded us of Geithner's disastrous "help."