Treasury Jack Lew ‘China’s Markets aren’t linked to the rest of the world’

On July 10, 2015 Treasury Secretary Lew another under appreciated savant of the Obama administration, assured us that the Chinese markets have little to do with the world’s markets. I am not a rocket scientist, but wondered at the wisdom of his statements.

Jack Lew discusses the Chinese stock market and its potential impact on the U.S. economy.

Jack Lew, speaking at the Brookings Institution in July, confidently assured that Americans were immune from weakening markets in China.

“I will say that China’s markets still are pretty much separated from world markets,” the secretary of Treasury, said. “They’re, obviously, moving towards being more integrated, but right now they’re not.”

“So you’re not going to, I don’t think, see the direct linkage there,” Lew said.

“I think the concern, that is a real one, is what does it mean about long term growth in China.”

17 Responses to “Treasury Jack Lew ‘China’s Markets aren’t linked to the rest of the world’”

  1. alec Says:

    What’s the message from the powers that be? It’s usually something like:

    “Don’t worry about —, it will all be okay, nothing to see. But be afraid too, because you’ll never know if we’re lying, or they are, or both of us…”

    If you keep people in a state of undifferentiated fear and uncertainty, you can lead them by the nose anywhere you want them to go.

    Liked by 1 person

  2. Steve Dennis Says:

    The man is either incredibly short-sighted or was purposely misleading the public!

    Liked by 1 person

  3. Brittius Says:

    Reblogged this on Brittius.

    Liked by 1 person

  4. Mustang Says:

    America seems extraordinarily blessed with idiots. No, I don’t mean people like Lew. I’m talking about the kind of mental deformity that would cause people to vote for Obama without giving any thought to the likely consequences of that decision: Lew being one, along with John Kerry, Hillary Clinton, Jeh Johnson, Janet Napolitano, Gina McCarthy, John Koskinen, Cass Sunstein, Todd Stern, John Holdren, Eric Holder and his butt boy David Ogden, Susan Rice, Samantha Power, and the Moaks who have become Osama’s Islamic advisory council.

    Liked by 2 people

  5. petermc3 Says:

    “What an asshole” would be an understatement.

    Liked by 3 people

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