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Obama and Obama’s team could be the final nail in the coffin for US economy

Posted by Adrian on January 23, 2009

Obama’s overly large and ‘crazy’ economic team have already started trouble. Namely issuing a indication that the US administration could fall into protectionism for the US economy.

Big name companies such as Caterpillar have voiced concerns about a protectionism agenda, now the Treasurer to be (and you thought Hank Paulson was bad) Timothy Geithner, has now issued all sorts of warnings at Asia, namely Japan and China for FX market interference. With currency depreciation from China and Japan maybe selling a ton of it’s currency to drop the powering Yen.

If the new Treasurer to be Timothy Geithner was joking, fair enough. But he isn’t, in fact he has to understand the US economy is so damaged that China who is also damaged, although not as bad  as the US (at this point, but getting there). Could sink the US if a trade war was to occur. Everyone knows China holds a lot of US Treasuries and if they get itchy fingers…

As countries attempt a ‘survival of the fittest’, the US is treading on very shaky ground issuing warnings in the global markets. So Obama’s inward economic perspective, could also mean a larger implosion for the US economy.

With the UK going bankrupt at some point in 2009, the US could be next inline.

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One Response to “Obama and Obama’s team could be the final nail in the coffin for US economy”

  1. Paul said

    “With the UK going bankrupt at some point in 2009, the US could be next inline.”

    A little over the top don’t you think?

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