Noteworthy Headlines

Geithner Heads to Europe as Debt Fears Mount (Reuters/9-12-11/7:49pm)

Europe taking financial advice from Geithner is akin to Oprah taking diet advice from Kirstie Alley.  For a quick reminder on the respect Timmy Boy garners when he travels outside of our borders, my favorite memory is his 2009 trip to China.  During a speech at Peking University, he was asked about the safety of China’s investment in US treasuries.  After stating:  “Chinese assets are very safe.”, the crowd broke into loud laughter.  The head of the United States Treasury laughed at…when he assured them that US treasuries were safe.

Thailand May Give Up Top Rice Exporter Role (Bloomberg/9-13-11/4:36am)

In this article, the Deputy Prime Minister of Thailand explains that he will begin to set prices for rice by directing the central government to purchase domestic rice directly from the farmers.  Direct quote:  “I’m not proud of being the largest exporter.  I’m proud that Thai farmers can grow and sell their products at reasonable prices and they can smile.”  Could it be that Bernanke is employing the same strategy when the Fed jumps in to purchase US treasuries?  I’ve always thought this was a complete joke, bordering on ponzi scheme.  But really, old Helicopter is simply looking to put smiles on the faces of all of those treasury officials…sort of sweet when you think about it this way.

Don’t Expect Any Obama (or Bernanke) Miracles (Barrons.com video/9-12-11)

Viewers of this video are advised not to get their hopes up with regard to economic proposals put forth by President Obama or Ben Bernanke.  Allow this earth shattering message to really sink in before moving forward with your day.

TD