Secretary Geithner will address the Obama administration’s proposals to help get more Americans back to work and help reinforce long-term growth at home as well as efforts to build a more stable financial system and to strengthen the global economy. Before his ascension to the Treasury in 2009, Secretary Geithner helmed the Federal Reserve Bank of New York. His many years of service include jobs in three presidential administrations for five secretaries of the treasury in a variety of positions. He served as under secretary of the treasury for international affairs from 1999 to 2001 for secretaries Robert Rubin and Lawrence Summers, and was director of the Policy Development and Review Department at the International Monetary Fund from 2001 until 2003. Don't miss this chance to get up close and personal with one of the most important figures entrusted with getting the nation’s economy back on track.
Timothy Franz Geithner is the 75th and current United States Secretary of the Treasury, serving under President Barack Obama. He was previously the president of the Federal Reserve Bank of New York.
Is a Japan-style "Lost Decade" in the cards for the United States? Not according to Treasury Secretary Timothy Geithner. Citing lessons learned from the 1990's Japanese economic crisis, Geithner argues that swift, aggressive measures from the federal government have staved off the chance of a similar future for America's economy.
Measures employed by governments to stabilize the economy, specifically by adjusting the levels and allocations of taxes and government expenditures. When the economy is sluggish, the government may cut taxes, leaving taxpayers with extra cash to spend and thereby increasing levels of consumption. An increase in public-works spending may likewise pump cash into the economy, having an expansionary effect. Conversely, a decrease in government spending or an increase in taxes tends to cause the economy to contract. Fiscal policy is often used in tandem with monetary policy. Until the 1930s, fiscal policy aimed at maintaining a balanced budget; since then it has been used countercyclically, as recommended by John Maynard Keynes, to offset the cycle of expansion and contraction in the economy. Fiscal policy is more effective at stimulating a flagging economy than at cooling an inflationary one, partly because spending cuts and tax increases are unpopular and partly because of the work of economic stabilizers. See alsobusiness cycle.
I can't help feeling sad listening to Mr. Geithner. And maybe with a little sense of tragedy... not only for him but for all of us.
He's a very bright man. I believe he has a good sense of many of the problems and would like to implement solutions to better both the nation and world.
However I believe he's trapped by his own paradigms... both in mis-understanding the changing nature of our global 'metabolism'...
(Humanity is at 100's of times the total biomass of any previous land animal... if you include animal husbandry and industrial agriculture... human dominated biomass is even much larger than that.)
As well as not recognizing fundamental problems in credit creation and finance - the technology of money - and its relationship to individual and collective decisions... i.e. the way this developing global social organism addresses these issues.
The fundamental determinant of the success or failure of a civilization is the nature of its Social Energy*
*Social Energy: Individual and collective decisions operating within the limits of available resources and natural law which result (quite literally) in the product you see as a civilization. A decision here is defined as an idea + an action. Decisions can be motivated by any number of factors. Technologies result from previous decisions thus becoming available resources. And decision here is defined broadly… everything from “Let’s build a pyramid for the pharoah!” to “I’ve got a headache I think I’ll lie down.”
Anyway enough of that here...
But one other bit of news!
PATENT IS GRANTED by USPTO for CHAGORA ** mechanism for political/charitable contribution!!!
**A self-supporting , Commons-owned neutral network of accounts for both political and charitable monetary contribution... which for fundamental reasons of scale must allow a viable micro-transaction (think x-box points for action in the Commons). The resultant network catalyzes additional functionality for co-ordination of other 'social energy' utilization. (If desired, It's also the most neutral and ultimately politically viable method for the public finance of elections.)
(The political micro-contribution, even where only occasionally useful, drives the creation of a vitally important and stable universally distributed network of primary importance for scaled association and decision.)
Why Politics MUST be Localized
Empowering the Commons: The Dedicated Account (Part I)
Personal Democracy: Disruption as an Enlightenment Essential
Demo & FAQ Chagora