vendredi 2 octobre 2009

Dollars are forever (2)

Geithner toujours. Décidément ça ne va pas de soi car il en parle beaucoup! Hier:

"A strong dollar is very important to this country, I mean that, and it's very important that people recognize it,"

Questions have been raised about whether the world will be willing to keep financing huge American debts forever or whether they might seek an alternate reserve currency.

"It does bring special responsibilities and burdens on the United States and it's very important that we make not just Americans but make the world understand that we are going to go back to living within our means," he said. (NDLR: zero burden, zero responsibility)

Geithner added, "And we are going to make sure that our independent Federal Reserve keeps inflation low and stable over time...and we are going to run fiscal policy in this country consistent with that basic objective of going back to living within our means." (NDLR: my ass!)

"There was a long period where monetary policy around the world was very, very loose and accommodative," Geithner said, adding that allowed risk-taking to become excessive.

"You had a huge boom in wealth outside the United States and that money was looking for a home and it created huge demand progressively for what proved to be very risk types of financial assets," Geithner said, adding that government "failed the test" of preventing the buildup in risk. (NDLR: Pourquoi es-tu toujours là? Pauvre abruti...)

Tic tac, tic tac...
Note: via Naked Capitalisme qui titre le post "Talk will only get you so far". Indeed.

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