Wednesday, March 25, 2009
Good Work - n∅∅b
Creeping Incrementalism
So China—lacking any faith whatsoever in ∏eh n∅∅b & ∏eh n∅∅boyz—is making noises overhauling the global monetary system, dropping the dollar and making up some other reserve currency. Greeeat.
Some random ‘porter ["one who carries the nooz"] asks TurboTaxTimmy about it and he plops out this thoughtful and eloquent howler:
"I haven’t read the entire proposal,” Geithner said. “But the governor is a sensible man [and] anything he says deserves consideration.” As for “increasing the IMF drawing reserves, we are favorable to that."
And in minutes the dollar index plunges 1% and the dollar slides as much as 1.3 percent against the euro within 10 minutes of news accounts of Geithner’s remarks. And then - when he played “take backs,” it bounced back up.
Hey, kid—yeah you with the “Property of Treasury” t-shirt. Do you know you are the Secretary? Yeah. Of The Treasury. Yees - of the freakin’ United States of America? Didja remember that?
Do we need to go over the concepts of “markets” and “confidence” and “consistency” again?!?
First you crack off that China’s manipulating the yuan—nevermind the facts - one does not say it [unless prepared to do something about it]—and now you come off with this “the governor is a sensible man” shinloa—What The Hell? Duude.
Simmer down, Son.
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