Geithner Goes To India, where is the prosperity for Main Street?

[WhiskeyGirl]

"These are vast areas," Mukherjee said at a news conference with Geithner in New Delhi, adding that the infrastructure could absorb up to $600 billion in foreign investment over five years. "It will make the relationship between the two nations more vibrant and also help address global challenges."

India permits 100 percent foreign investment in road building. But India has long restricted foreign investment in many forms, including importing wine, opening retail chain stores and credit and insurance investments. The partnership could eventually lead to the beginning of new reforms because the United States is eager to gain access to India's vast markets, especially as it recovers from the worst recession since World War II.

"We meet at a time of encouraging prospects for the U.S. and Indian economies, and the beginnings of global economic recovery," Geithner said. "We're at a time of great optimism in the United States and around the world about the prospects for growth and reform in India. And I think we have a chance to demonstrate together this economic relationship offers very promising growth and opportunities for American firms just as it does for Indian firms."

http://www.washingtonpost.com/wp-dyn/content/article/2010/04/06/AR2010040600640.html

Any investment for America?  All the little people on Main Street?

Or just taxpayer funded investment dollars for the wealthy, global players, big Wall Street banks?

[WhiskeyGirl]

NEW DELHI - US Treasury Secretary Timothy Geithner said that the United States and India must work together on rebalancing global growth and revamping a battered financial system.

After opening bilateral economic partnership talks here, Mr Geithner said in a prepared statement that the United States and India "need to work more closely together".

"Our ability to cooperate on economic and financial issues will be critically important to the success of global efforts to create conditions for a more stable global financial system, more balanced global economic growth that is less dependent on the willingness of Americans to live beyond our means, more effective and representative international financial institutions, and a more open global trading system."

Why not put the 'battered financial system' to bed for good?  Abolish the Federal Reserve, and send some folks to jail?

The money didn't just disappear overnight.  Are all those banks just that stupid?  Didn't they look at the details?  Read what they were getting into?

"While (US) unemployment remains unacceptably high, the private sector has added jobs during four of the past five months, private investment is increasing, productivity growth is very high, the financial system is recovering, private savings have improved, and our economy is now borrowing significantly less from the rest of the world," Mr Geithner said.

Are we paying back the loans?  Where is the money coming from, to support all of Obama's spending?

"India has a dynamic entrepreneurial private sector, a demonstrated ability to compete in the global market, and a commitment to quality higher education," Mr Geithner said.

Contrast this with the Obama administration's anti-entrepreneurial policies.

http://www.businessspectator.com.au/bs.nsf/Article/UPDATE-1-US-India-must-push-for-balanced-growth--G-49BMP?opendocument&src=rss

No jobs, opportunity, or prosperity for Main Street.

Just more taxpayer funded investment money for global players and big Wall Street banks.

jmho

[WhiskeyGirl]

“So that the world emerges from this growing at a strong rate of growth but a more balanced and sustainable rate of growth. That is going to require changes in United States and going to require changes around the world,” he added.

Geithner, who arrived here along with Federal Reserve Vice Chairman Donald Kohn, also met Prime Minister Dr Manmohan Singh earlier in the day.

On Wednesday, Geithner will hold a roundtable discussion with US financial companies and Indian entrepreneurs in Mumbai.

More here - http://www.duniyalive.com/?p=115393

Jobless 'prosperity' for the US?  Prosperity for everyone except the millions that live everyday on Main Street?

Why doesn't Main Street have a seat at the table?  Why jsut the 'US financial companies"?

No jobs for Americans, no dreams of prosperity, just a kick to the curb.

my opinions

[WhiskeyGirl]

For some reason, they never talk about growth in America, just the need to 'rebalance' the globe, and BTW, they invite the bankers.