Pepe Escobar: Obama held hostage by PPPIP

Dandelion Salad



President Obama’s destiny – more than his foreign policy decisions – will be sealed by how he deals with the US financial crisis, argues Pepe Escobar. The verdict of top economists on Treasury Secretary Tim Geithner’s new PPPIP has not been auspicious. Some speak of taxpayer rip-off while Nobel Prize winner Paul Krugman foresees a “lost decade of zombie banks”. The President has been trying to appease Wall Street while at the same time appeasing America’s anger directed at anything bank bailout-related. On a global level the Chinese have made it known their patience with America’s addiction to debt has limits. The upcoming G-20 meeting in London is bound to discuss more radical steps, while back in the US some already dream of a new saviour, post-Geithner.


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6 thoughts on “Pepe Escobar: Obama held hostage by PPPIP

  1. Pingback: Bankrupting the world By Jerry Mazza « Dandelion Salad

  2. Pingback: Geithner’s Hog-wallow: the US Treasury’s Cash Giveaway Bonanza by Mike Whitney « Dandelion Salad

  3. Nationalize the fricking banks!!!!!!!!! Gawd! Youre going to do it anyway! Save us poor working slobs some bread!

    The system is rotten from within. If we just prop up the old system, it will happen again, and again.

    WHY would Obama behave like Bush?

    We will NOT be “like Japan”, because Japan has a much better social safety net.

    This is so doomed. But Americans are cowards.

    Anyone who does not address the chasm of wealth , is no friend of working people.

  4. PPPIP =’s piss poor planning implements penury !
    Strike Back, Run the Banks, 4-15-09, Ruin the plan.

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