Monday, January 25, 2010

Fuck The Labor Market

The only thing that matters are capital markets. Someone should tell the administration that the labor market already crashed, and Helicopter Ben isn't doing enough to help it.

Treasury Secretary Tim Geithner, in a recent interview with Mike Allen of Politico warned that the financial markets could react negatively if Fed Chairman Ben Bernanke isn't confirmed for a second term. (READ Politico's full story here.)

Geithner suggested that the market would see a failed Bernanke confirmation as "very troubling," but claimed that he was "very confident" Bernanke would receive enough Senate votes to win a second term.

"The markets would view this as very troubling thing for the economy as the whole," Geithner said. "I don't think they should be uncertain. I think they can be confident because we're very confident."

So the fate of our economy, or at least the parts of it that Timmeh cares about, depends on the confirmation of One Great Man, otherwise everything goes to hell. What if Ben has an accident and is unable to continue in his position? Are we just fucked because The Great Man is gone?

I hate these people.