GOOD NEWS FOR THE MARKET!!
By Daniel at 10 September, 2009, 3:30 pm
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Sept. 10 (Bloomberg) — U.S. Treasury Secretary Timothy Geithner said the government is moving to withdraw some of its support for financial markets and cautioned that the recovery will have “more than the usual ups and downs.”
“As we enter this new phase we must begin winding down some of the extraordinary support we put in place for the financial system,” Geithner said in testimony to the Congressional Oversight Panel that monitors the $700 billion financial-rescue program. “We are now in a position to evolve our strategy as we move from crisis response to recovery, from rescuing the economy to repairing and rebuilding the foundation for future growth.”
WHERE WILL THE DOW GO NOW?…………………….Down and Down!!!!
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This is Great news!! In my opinion he only way to exit the inverted economic curve we’re in is to refrain from inferring with natural progression of the traditional exit strategies provided today. With todays consumer concerns so high, we need more sound decision at the grass roots level with our choice Mortgages more carfully thought out. This will allow inflation to increase gradually instead being prematurely manipulated by non-traditional methods i.e., the 18 straight rate increases of fiscal 06 that initiated the panic that caused the down turn to begin with.
Two words…Baby Steps.
Kudos Geithner!!
W Lewis
VOYAGEHOMELOANS