Monday, September 28, 2009

You know your government is weak...

...when someone else's central banker talks up your currency. Bloomberg reports:

Trichet Says ‘Extremely Important’ That We Have Strong Dollar

By Gabi Thesing
Sept. 28 (Bloomberg) -- European Central Bank President Jean-Claude Trichet said it is “extremely important” to have a strong U.S. dollar.

“In the present situation it is extremely important that we can have in the framework at the level of global finance and the global economy a strong dollar as the authorities in the US are saying,” Trichet told lawmakers in Brussels today.“The solidity of the dollar is very important.” Last Updated: September 28, 2009 11:46 EDT.

We can just hear it now:

[Trichet]Your collapsing currency is killing us! Do something! Say something, at least!

[Geithner] But I can't say anything positive about the dollar! It's not in my approved talking-points!

[Trichet]Then I'll just have to say it for you, you milquetoast!

But actually, coming as it does on the heels of the infamous gathering of rabble-rousers known as the G-20, it probably went down more like this:

[Trichet]Your collapsing currency is killing us! Do something! Say something, at least!

[Obama] But I can't have anybody say anything positive about the dollar! It's not in my approved talking-points!

[Trichet]Then I'll just have to say it for you, you milquetoast!

We acknowledge a sense of vague unease in knowing that "lawmakers in Brussels" are sitting around talking about our dollar.

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