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2011/09/18: Weekend Thought: During His Jim Cramer Interview, Secretary Geithner Spilled the Beans

September 18, 2011 2 comments

Quite a bit of softball questioning, and others that were leading insofar as they allowed Treasury Secretary Geithner to promote the administration’s renewed stimulus agenda. Nothing necessarily wrong with that; high-level political interviews are after all the art of the trade-off.

However, some of the questions were so generalist as to be meaningless. “Europe alive or dead in three years?” We presume Mr. Cramer meant “the Euro-zone”. And of course the correct answer is “absolutely“, without having to qualify in what form. While they agreed that would include saving Greece within the zone, we are not so sure (and will have more to say on that sometime soon.)

And one of the most telling insights from the interview came in response to one of those seemingly softball questions regarding why the administration’s new jobs initiative must be passed to avoid crippling economic weakness. It was less about the specific benefits or costs of the program, and more so about an aspect of the general economic context that very few have been willing to explore.

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