Geithner And Government Protect Wall Street And Dump Main Street For India

Geithner And Government Protect Wall Street And Dump Main Street For India

By William Cormier (featured with our good friend Bill’s permission – Just Another Coverup)

In a speech that will not surprise anyone, Timothy Geithner, while on a two-day visit to India, pledged that our government would “not (to) harm India’s IT outsourcing sector as it battles to create jobs at home in the worst labour market since the Great Depression of the 1930s.” He went on to state that “protectionist measures to prevent jobs from migrating outside the country would do more harm to the US than good.” As he rambled on, placing international relations and Wall Street profits ahead of millions of unemployed American workers, Geithner dug in his heels and stated:

“protectionist measures to prevent jobs from migrating outside the country would not seek to curb the investments of US companies overseas as “our fortunes are tied with the world”.”

“We are not going to go down that path,” promised Mr Geithner. “We know that it would make us weaker, not stronger.” LINK

To make matters worse, Timothy Geithner stated that the Obama Administration:

“would not seek to curb the investments of US companies overseas as “our fortunes are tied with the world”.

Who exactly is Timothy Geithner speaking for when he states that “We know that it would make us weaker, not stronger?” We need to press the White House and Mr. “Globalist Geithner” to explain exactly who he is referring to when speaking about “us.” We also need to know how and why it would make the United States weaker if we quit outsourcing American jobs and pay our citizens decent wages rather than supporting the economies of other nations throughout the world.

It is obvious the us Mr. Geithner is speaking of is Corporate America and Wall Street investors, not millions of highly qualified American workers that have had their livelihoods stripped from them by greedy corporations who have placed profit above the health and welfare of the American people. The Obama Administration’s acquiescence to corporate profits and power is nauseating and directly conflicts with his campaign promises. This is the most outrageous and misleading statement that Geithner has made to date, IMO, and we must challenge this need of President Obama to support Corporate America while stating that his administration is doing their best to prop-up our jobs market. You can’t do both Mr. President; our work force is competent and to pull us out of this “jobless recovery,” we have to create more high-tech jobs and quit outsourcing our economy and future to other countries.

How much has corporate greed aided other nations while helping to destroy our own economy? Just in India, the article referred to herein states:

IT outsourcing, which is heavily dependent on business from the US, is one of India’s flagship economic sectors. Companies such as Tata Consultancy Services, Infosys and Genpact helped propel the economy to growth rates of 9 per cent before the global financial crisis and was responsible for creating 45 per cent of new jobs over the past 10 years.

I haven’t seen these statements circulated in our Mainstream News Media, and as usual, they are reporting upon anything and everything other than what concerns the welfare of our own country. We need to spread the word that President Obama is selling out American workers and pledging to support other economies rather than our own, and this is absolutely unacceptable!

William Cormier

Original Source Link

Editor’s Note – The story referenced from the Financial Times requires registration, for those who cannot afford to subscribe to this most important economic news in this time of national crisis I am posting the article below:

Geithner vows to block protectionism
By James Lamont in New Delhi

Published: April 7 2010 10:39 Last updated: April 7 2010 17:31

The US government has vowed not to harm India’s IT outsourcing sector as it battles to create jobs at home in the worst labour market since the Great Depression of the 1930s.
Tim Geithner, US Treasury secretary, said during a two-day visit to India that protectionist measures to prevent jobs from migrating outside the country would do more harm to the US than good.

“We are not going to go down that path,” promised Mr Geithner. “We know that it would make us weaker, not stronger.”

He also said that the administration of Barack Obama, president, would not seek to curb the investments of US companies overseas as “our fortunes are tied with the world”. There have been proposals to trim the tax privileges of US companies that operate internationally.
“American companies are long in the world,” Mr Geithner told Indian business leaders at a discussion hosted by the Confederation of Indian Industry.

“They are good at what much of the world needs. A huge part of the basic economic challenge we face is to give stronger in- centive for private investment, help support innovation and try to make sure there is more investment and stronger exports globally.”

Mr Geithner said Mr Obama was “deeply committed” to trying to build a consensus among Americans for more open trade to support the recovery.

“We have got the worst labour market since the Great Depression,” the Treasury secretary said. “Most Americans are still going through an incredibly difficult economic series of challenges and yet we’ve been very successful in working to keep our markets open under all that pressure.”
IT outsourcing, which is heavily dependent on business from the US, is one of India’s flagship economic sectors. Companies such as Tata Consultancy Services, Infosys and Genpact helped propel the economy to growth rates of 9 per cent before the global financial crisis and was responsible for creating 45 per cent of new jobs over the past 10 years.

Last year the global IT outsourcing market was estimated to be worth as much as $250bn (€187bn, £164bn).

“Some of the sounds coming out of the US have caused concerns here,” said Tarun Das, the president of the Aspen Institute in India. Local businesses were wondering whether “the authors of globalisation are turning to protectionism”.

Senior policymakers say that the Indian economy is fast becoming more export-oriented and more vulnerable to protectionist action by other large economies.

“If we want to get to 9-10 per cent growth it’s in our interest that the US should get back to growing as soon as possible,” said Montek Singh Ahluwalia, deputy chairman of India’s powerful planning commission.

“It’s also [important] that [the] market remain open.”

The Cherry On Top of the 2009 Shit Cake

Sweet Jesus, could the bankster’s hostile takeover be any more blatant than this? The national ‘news’ rag Time Magazine has chosen Mr. Green Shoots himself as the 2009 Man of the Year. Helicopter Ben will join such luminaries who were previously honored by Time as Adolf Hitler, Joe Stalin, the Ayatollah Khomeini and George W. Bush. One must marvel at the sheer lunacy and corruption that has overtaken America in the first decade of this foulest of centuries, that this financial terrorist is now being lionized in phase two of the greatest propaganda campaign since General Petraeus’s SURGE shows the utter lack of regard that the ruling oligarchy has towards us peasants. Shit, why not just feature Lloyd Blankfein or Wall Street water carrier Tim Geithner?

It is notable that Mr. Barack Obama did not adorn the cover, then again he isn’t up for Senate confirmation for a second term. The Senate along with the dirty little vermin Lieberman will surely enthrone King Ben now that they have finished dismantling any hope of health care reform and thrown the full force of the state behind the insurance vampires. While there is some opposition to Helicopter Ben’s ongoing reign of terror and 24/7/365 counterfeiting it is largely going to be swept away, you know that the deal is done when an unprincipled showboat like John McCain is making noises about Benanke, the penultimate liar, cheat and political con artist whose desperation nearly single handedly created the Frankenstein monster that is Sarah Palin has never met an opportunity to sleazily hijack an issue for political gain and opposing Ben (d’over) Bernanke is yet another of those times for Mr. Keating Five.

Anyway, the Time puff piece should serve as notice to all who are awake that the dollar crash is coming and that soon it is going to take the proverbial wheelbarrow full of Reichmarks to buy a bag of potato chips so start stocking your pantries with non-perishible food items, buy ammo like there is no tomorrow and prepare to hunker down for the day when the shit hits the fan, the bailout bubble bursts and the rabble is in the streets like zombies from some B horror flick looking to eat. Hyperinflation is coming as surely as the jobs aren’t coming back all thanks to the Man of the Year.

The Cherry On Top of the 2009 Shit Cake

Sweet Jesus, could the bankster’s hostile takeover be any more blatant than this? The national ‘news’ rag Time Magazine has chosen Mr. Green Shoots himself as the 2009 Man of the Year. Helicopter Ben will join such luminaries who were previously honored by Time as Adolf Hitler, Joe Stalin, the Ayatollah Khomeini and George W. Bush. One must marvel at the sheer lunacy and corruption that has overtaken America in the first decade of this foulest of centuries, that this financial terrorist is now being lionized in phase two of the greatest propaganda campaign since General Petraeus’s SURGE shows the utter lack of regard that the ruling oligarchy has towards us peasants. Shit, why not just feature Lloyd Blankfein or Wall Street water carrier Tim Geithner?

It is notable that Mr. Barack Obama did not adorn the cover, then again he isn’t up for Senate confirmation for a second term. The Senate along with the dirty little vermin Lieberman will surely enthrone King Ben now that they have finished dismantling any hope of health care reform and thrown the full force of the state behind the insurance vampires. While there is some opposition to Helicopter Ben’s ongoing reign of terror and 24/7/365 counterfeiting it is largely going to be swept away, you know that the deal is done when an unprincipled showboat like John McCain is making noises about Benanke, the penultimate liar, cheat and political con artist whose desperation nearly single handedly created the Frankenstein monster that is Sarah Palin has never met an opportunity to sleazily hijack an issue for political gain and opposing Ben (d’over) Bernanke is yet another of those times for Mr. Keating Five.

Anyway, the Time puff piece should serve as notice to all who are awake that the dollar crash is coming and that soon it is going to take the proverbial wheelbarrow full of Reichmarks to buy a bag of potato chips so start stocking your pantries with non-perishible food items, buy ammo like there is no tomorrow and prepare to hunker down for the day when the shit hits the fan, the bailout bubble bursts and the rabble is in the streets like zombies from some B horror flick looking to eat. Hyperinflation is coming as surely as the jobs aren’t coming back all thanks to the Man of the Year.

Just my two cents over the morning cup o’ joe

EE

Wall Street to Obama: Go Fuck Yourself!

Monday’s White House meeting/public relations spectacle with the recalcitrant greedheads and other assorted banking miscreants was a mockery. As the orgy of American capitalist excess that is Christmas nears and millions of children won’t be visited by Santa Clause unless of course he is bearing a foreclosure notice on Daddy and Mommie’s overpriced, underwater shitbox the banksters are back in business big time thanks to Obama and Raht Emanuel. At some point last year when the financial services parasites were holding a gun to our collective heads and loudly threatening to ‘blow the roof’ like in Die Hard unless their bad bets were covered by taxpayer dough the overly cunning new administration, already funded by Wall Street looters made a calculated political decision to crucify the schmucks on a cross of Goldman Sachs. Hell, it’s no surprise, that is the way that it always works in an oligarchy and any O-Bots who are out there still defending this lying sack of shit administration are as clueless and morally challenged as those who swore on a stack of bibles that George W. Bush was the second coming of Jesus Fucking Christ and anyone who dared to question him was a terrorist sympathizer or traitor.

So the Pope of Hope’s vaunted White House meet with the destroyers of the country may have been good for the rubes and childish fools still drinking the Kool Aid of the Obamessiah to those of us that have been on to the big con can had our bullshit detectors going off full blast just as they have been doing often as the grifter in chief continues every fucking vile policy of the Bush junta only with a less ostentatious manner. Escalation of the war in Afghanistan to protect the energy and drug routes that are the lifeblood of the American ruling class, the continuation of torture as policy (although under Obama Jack Bauer is no longer the official spokesman), the ongoing Stasi style surveillance of law abiding citizens, shitting on gay rights, failing to pull the U.S. out of disastrous trade pacts and retaining Bush pigs like Robert Gates and Helicopter Ben Bernanke build a pretty damning case against Obama. Hell, after that speech last week in front of the Noble Prize Committee where the bastard actually had the chutzpah to get up and use the forum as a justification for neverending war it’s really only a matter of time until the neocons are back in the DemocRAT party where they came from. Oh, and about that health care reform? Face it suckers, you have just been buttfucked by the quisling Congress, the Israeli mole Joe Lieberman and the collective might of the insurance industry who are now about to strip out the only goddamned good thing – moving the Medicare age up to 55. Welcome to chumpland fools, thanks to the Obama administration and mobbed up Harry Reid the state is about to be empowered to force an impoverished citizenry to pay protection to the insurance gangsters or face the full fury of the law.

Were it not for legions of buffoons and Judas goat assclowns like Markos Moulitsas Zuniga on the so-called ‘left’ who provide cover for the gross criminality of the sitting government the Obama administration would be one and done but the cult of personality will be good enough to reelect the rotten bastard, especially since the only choice is Sarah Palin, Lou Dobbs or Glenn Beck any of whom are starting to look like better options than the Big O because shit, let’s face it, how much power would any of them be able to wield anyway? This lemming colony is owned lock stock and barrel by the Military Industrial Complex, the Wall Street cloud dwellers and Big Oil Nazis like the Koch Family and the Texas Mafia, always has been and always will be, the Prez is just a frontman and Mr. Obama is the most successful product since Ronald Reagan, another colossal phony whose acting ability was a cherished trait as he bamboozled our way into what is now the coming national bankruptcy.

So Monday’s sit down with the banking criminal elite, just like the rest of Obama’s putrid first year was just more stagecraft, especially considering that Lloyd ‘doing God’s work’ Blankfein and Shitibank’s top vulture Vikram ‘the bandit’ Pandit didn’t even bother to show up. That the entire bailout is now going up like a rancid flaming bag of dogshit parked on the front doorstep of 1600 Pennsylvania Avenue as the banksters aren’t lending but rather hoarding the money to fund more gambling and of course pay out those wonderful holiday bonuses is merely an ugly and slightly embarassing matter and only because the Republicans are suddenly screaming like stuck pigs about populism to rile up the rabble in the hope that they can return to running the spoils system – fat fucking chance. After Christmas has past and the teflon coated shit salesman that is Barack Hussein Obama and his fealty to Wall Street is forgotten by flea brained Americans it will be back to the business of finishing the job of implementing the new feudalism. Matt Taibbi who has been on Wall Street like a starving pitbull recently wrote about Obama’s Big Sellout and I would strongly recommend it to all.

Anyway, that’s it for now

Just my two cents over the morning cup o’ joe

EE