No Children, You Cannot ALL Be Export Economies
by ilene - October 20th, 2010 3:41 am
No Children, You Cannot ALL Be Export Economies
Courtesy of Joshua M Brown, The Reformed Broker
Children, children, please! Stop your bickering and sit down in a circle. China, have a seat, you too Brazil.
Japan, you get a Time Out. That kind of aggressive currency behavior simply will not be tolerated – you lose arts and crafts privileges for one week. Origami swans count, put that paper down!
The simple fact is that although you’d all like to be export-driven economies, this is a logical impossibility. If everyone in the G20 is to be a net exporter, then we’ll either have to convince Mongolia to start buying a lot of stuff or find alien life elsewhere in the galaxy to market and sell to.
Ah! Now you’re quiet! Very good children. Dropping your currency will be punished the same way as dropping your pants in this classroom – it is strictly forbidden.
And picking on Brazil will also not be put up with. Brazil is a growing boy and needs to be able to export, too. Stop snickering, Timmy, I saw right through your ‘Strong Dollar’ speech the other day. And China, your cosmetic rate hikes are just as phony, none of us are fooled.
Here’s the deal, children…If we can go the rest of the day without any more jawboning, saber-rattling or currency manipulation I will reinstate milk-and-cookies time this afternoon.
Do try to behave.
Read More:
Market Break into G20 (Points and Figures)
FX Wars Escalate: Brazil Cancels G20 Participation (Zero Hedge)
Brazil Boosts Firepower…but is it Shooting Blanks? (beyondBRICs)
Geithner impersonates Nicholson – America, you can’t handle the truth
by ilene - November 11th, 2009 6:19 pm
The dollar drama continues
Geithner impersonates Nicholson – America, you can’t handle the truth
Courtesy of Edward Harrison at Credit Writedowns
Tim Geithner has issued a Code Red on the U.S. dollar, but he doesn’t think Americans can handle it.
I believe deeply that it’s very important to the United States, to the economic health of the United States, that we maintain a strong dollar.
Secretary, I have just one more question. If you gave an order that the dollar wasn’t to be touched and your orders are always followed, then why would the dollar be in danger?
I want the truth!
You can’t handle the truth!
I have a greater responsibility than you can possibly fathom. You weep for the dollar, you curse the U.S. Government. You have that luxury. You have the luxury of not knowing what I know – that the dollar’s death, while tragic, probably saved lives. And, my existence, while grotesque and incomprehensible to you, saves lives.
I have neither the time nor the inclination to explain myself to a man who rises and sleeps under the blanket of the very freedom that I provide and then questions the manner in which I provide it.
Did you order the Code Red?
You’re goddamn right I did.
Source
Geithner Says Strong Dollar ‘Very Important’ to U.S. – Bloomberg
Happy Veterans’ Day (especially to my dad, uncles and aunt and all of those no longer with us)