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Closing Tim
The Corner on National Review Online —
... dollar plunged instantly against the euro, yen, and sterling as the comments flashed across trading screens. David Bloom, currency chief at HSBC, said the apparent policy shift amounts to an earthquake in geo-finance. "The mere fact that the US Treasury Secretary is even entertaining thoughts that the dollar may cease being the anchor of the global monetary system has caused consternation," he said. Mr Geithner later qualified his remarks... You don't say. As The Wall Street Journal comments : Mr. Geithner is learning on the job, and yesterday's lesson is that it isn't smart ...
Timmy Geithner - Super Genius
Blue Crab Boulevard —
... This is the guy who is going to rescue the US economy ? As if the dollar didn’t have enough problems, Timothy Geithner took China’s bait yesterday and said he was “quite open” to its suggestion this week to displace the greenback with an “international reserve currency.” The dollar promptly fell and stocks followed, before the Treasury Secretary re-emerged to say “the dollar remains the world’s dominant reserve currency. I think that’s likely to continue for a long time.” Apparently, neither Timmy or Barry have a clue about how important their words are.
China’s Bull Shop
Jules Crittenden —
[image] « Is Nothing Sacred? China’s Bull Shop WSJ spanks a gullilble Geithner for falling for China’s one-world currency ploy to expand its economic influence. NYT : Pentagon report sees China seeking weapons to challenge American supremacy. China calls it a “gross distortion of facts” regarding “the fallacy of China’s military threat.” Here’s a good one. Reuters : China tells U.S. to drop “Cold War” mentality. Point PRC for gall on that one. China has engaged in dangerous harassment of our naval aircraft and vessels in international ...
Workers: Embrace your mandatory volunteerism!
The Anchoress —
... And less sovereignty. I’m convinced that if President Obama actually wanted to serve the US Economy he’d be staffing Treasury, and not throwing us into bankruptcy. Instead, he leaves Treasury unstaffed, seems unconcerned about it, and seems to be using Geithner to ummm…manage a transition. ...
NSN Daily Update 3/26/09
democracyarsenal.org —
... of the Day Timothy Garton Ash says that at the G-20 next week, there will be Europeans present, but no one speaking for a united Europe. The Financial Times thinks that the Czech Republic’s poor EU presidency argues a semi-permanent EU president as was outlined in the failed Lisbon treaty. The Wall Street Journal analyzes the U.S. and China’s interactions over the dollar. The LA Times applauds the Obama administration’s first step in combating drug ...
Brainster's Blog — ... after 2013. There are limits to how much the government can borrow without consequence — a fact underscored Wednesday when the Treasury had unexpected trouble selling five-year notes to cover Washington's enormous borrowing. It might have been a hiccup, but it roiled the stock market and sent a worrying signal that Treasury might have to offer higher interest rates, which could throw a wrench into the recovery. That's bad enough without the spectacle of the Secretary of the Treasury talking down the US dollar: As if the dollar ...
Remainders: Afghanistan
Ben Smith's Blog —
Rahm didn't work too hard at Freddie Mac.
Ambinder previews Afghan policy.
Wal-Mart hires former aides to Arkansas senators.
The Journal whacks Geithner's dollar talk.
Hillary had an awkward meeting with an ex-spy.
Ralston explains what I've got wrong, and right, about Vegas.
Ari Shavit thinks Barak and Netanyahu were a dream team.
Henry Cisneros is a fraud victim.
Chas Freeman thinks Israel has enough defenders.
An SEIU staffer quits, blaming ...
