Writing’s On the Wall – Geithner Wrong, U.S. Economy is Imploding

Geithner was wrong on US credit rating downgrade

Fox Interview on April 25,2011 – Geithner proven wrong on US downgrading

The US has never lost its sterling AAA credit rating since it was first granted in 1917. That is until now.

On Friday, August 5, Standard and Poors dropped the US’ rating to AA. There were those who said it would never happen. One in particular was US Treasury Secretary Timothy Geithner.

On April 25, 2011, Fox Business reporter Peter Barnes interviewed Geithner and asked one question,

     Barnes: “Is there a risk that the United States could lose its AAA credit rating? Yes or no?”

     Geithner: “No risk of that.”

     Barnes: “No risk?”

     Geithner: “No risk.”

Once again, Geithner was wrong. We need to realize that as a former Federal Reserve Bank head, Geithner’s loyalty is not to the American people. It’s to his former bosses at the Fed.

The writing is on the wall. The US economy is imploding. Prepare now while you still have time.

Don’t wait for your leaders to tell you to prepare. They won’t.

 

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