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Don’t do it Timmy Geithner! Don’t do it!

If our largest debt holder (China) is concerned with our country’s solvency, how concerned should we be? (Bloomberg: China Needs U.S. Guarantees for Treasury Bond Holdings, Yu Says)  Yes the financial crisis has carried on for a while, we’ve heard speech after speech and testimony after testimony by Bernanke and Paulson. And everytime someone opened their mouth, the market got nuked.  But today’s market implosion before Timmy Geithner even got up to the stand felt just a notch more pessimistic.  The chatter. The fact even the media didn’t try (or finally couldn’t) help Geithner come up with a “hopeful” scenario and try to cheerlead the market higher.  LiBOR (London Interbank Offered Rates) ticked higher, showing more fear and the continued seizure of the credit markets.  Even if credit markets thawed a bit, less and less people have the means to buy a home.  Heck, even those renting might have to move back home if they continue to struggle finding a job.  I appreciate the Pres. Obie and Timmy G. trying a PR “change” and telling the truth about how bad it is (vs. the Bush/Paulson team of saying, just give us more money and we’ll fix it).  Telling how bad it is is one thing, but leaders show fear and say upfront that they don’t know what they’re doing is not the honesty we need. It’s time to show some real leadership Obie. It’s not a campaign anymore.  This is for real.  The world, not just our country, is collapsing.  Obie and Timmy G.:  either step up or, if you don’t think you have all the skills to handle it, step down. No one will think less of you for it. It’s too big of a task for any one man.  Don’t let pride (not being able to admit it’s too tough for you and that someone else may do better) be the reason the world implodes…and we’re imploding.  Still being concerned with the sideshow of corporate Jets and remodeled offices tells me you DON’T know how bad it is out there.  With unemployment this high and problems piling up everyday, social unrest about to rear it’s ugly head.  Corporate jets and remodeled bathrooms will be the last thing you’d think of by then.

p.s. like I said on twitter, round up a bunch of people like the Manhattan Project for the A-Bomb, and throw these people in the desert till they figure out a plan.

**FINZ.tv Trading Media & Entertainment, the new site I’m producing with my partner TraderAlamo, will launch videos this sunday.  Until then, read our “POSSE Traders Journal” blog along with other FINZ.tv POSSE: BHBGroupTrader, Chris Nelder, Daytrend, James Falvo, Jeffrey McLarty, Alamo, and Myself. **

And thanks to my trading mentor and friend Quint for this video when the trading days get to wild. Only trading nerds would’ve known about this video fo’ sho:

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