♠ Posted by Emmanuel in Cheneynomics
at 10/22/2009 04:06:00 PM
I remain amazed by American officials' cheek in reiterating a "strong dollar" policy while, in reality, doing everything possible to undermine the dollar's value--implementing zero interest rate policies, printing Treasuries in nearly unlimited quantities, clogging the central bank's balance sheet with junk assets, etc. Here, talk is the opposite of action. In short, it is hypocrisy. It's hard to miss the tragicomedy of it all, and the joke is on those of us dumb enough to hold dollars. A long time ago, I wrote about the "Top Ten Things the Dollar is Still Useful For." Given the recent travails of one David Letterman, I think it's time we revisit this territory. So, without further ado:Top 10 Honest Appraisals of "Strong Dollar" Policy
10. "Screw the greenback" policy
9. "Take Benjamin to the woodshed and put him out of his misery" policy
8. "Buy more mining stocks, precious metal ETFs, and metal detectors" policy
7. "Raise the US retirement age to 105" policy
6. "Throw Junior in the debtor's prison called the US 'economy'" policy
5. "Stealthily transfer wealth from lenders to debtors" policy
4. "Not only Burger King but also Tim and Larry sell 'Whoppers'" policy
3. "Kick the can down the road" policy
2. "Two dollars to the euro" policy
1. "No need for toilet paper when we've got plenty dollar bills" policy
