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    • Week-end Wrap – Political Economy – August 25, 2019
      Week-end Wrap – Political Economy – August 25, 2019 by Tony Wikrent Economics Action Group, North Carolina Democratic Party Progressive Caucus Strategic Political Economy Give No Heed to the Walking Dead [The Scholar’s Stage, via Naked Capitalism 8-18-19] The People’s Republic of China is wealthier than any rival America has faced. Its leaders are convinced […]
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Tim Geithner Could Get Some Assistance at Treasury Soon

This is so exciting! Tim Geithner may get some help at the Treasury Department soon. President Obama has just announced three new Treasury appointments. From Reuters a short time ago:

President Barack Obama moved to fill three of the four most senior Treasury Department positions on Monday, including announcing his intent to nominate former department counsel Neal Wolin as deputy Treasury secretary.

Obama also named Lael Brainard, a Brookings economist, as undersecretary of the Treasury for international affairs and said he had decided to keep Stuart Levey as undersecretary of the Treasury for terrorism and financial intelligence.

Wolin and Brainard must be confirmed by the Senate. Levey was confirmed in his post in 2004 and is being asked to remain so does not require reconfirmation.

No word yet on whether they’ve found anyone to answer the telephones yet.

Let’s hope Wolin, Brainard, and Levey’s taxes are all paid up. Timmy really needs some help!

Another piece of news that might not be so good for Timmy and Barack:

There have been rumors and announcements from China about a new reserve currency.

And the IMF has said that it is considering printing hundreds of billions of dollars worth of its own currency.

Today, the two stories came together in a dramatic development. Specifically, the head of China’s central bank proposed making the IMF’s currency the world’s reserve currency, to replace the dollar.

Yikes!

This is an open thread.

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