Oh, dear God . . .

“The economy is in a much stronger position to handle” rising oil prices, Tim Geithner said today during a Bloomberg Breakfast in Washington. “Central banks have a lot of experience in managing these things.”

From Bloomberg via Zero Hedge.[*1]

We Are So Screwed.

Recall, if you will, Timothy Geithner is the guy who was unable to comprehend the nuances of TurboTax.

Pardon me if my confidence in central bankers and central planners to competently manage the entire world’s economy–despite centuries of evidence that central planning inevitably results in disaster–pardon me if my confidence in these modern mandarins is somewhat lacking.