Thursday, March 26, 2009

More Michele B.

Rep. Michele Bachmann makes Sarah Palin look like a Jeopardy winner with a fount of superior knowledge.

A couple of days ago in a hearing, Geithner and Bernacke were testifying. Michele kept demanding that Geithner give her a yes or no answer to a question that was so opaque and confused that he kept trying to clarify what the question was. She kept robotically demanding "give me a yes or no answer!" "Why can't you just give me a simple answer?" Finally Bernacke leaned into the mike and said very calmly, "Because it is a poorly framed question." And that was that.

Now she's having a hissy fit because she thought Geithner implied that he might be open to the Chinese proposal to replace the U.S. dollar as the global currency. In fact, he was using a rhetorical device to consider the proposal and then walk it back to explain why the change is not needed and why he doesn't support it.

But Michele isn't too swift with subtlety, it seems, and instead her knee-jerk reaction is to attack. She fired off a press release "Bachmann Demands Truth: Will Obama Administration Abandon Dollar for Multi-National Currency?" And she demanded that Obama come clean about his intentions and say whether he agrees with Geithner.

And then she announced that she was introducing a resolution "that would bar the dollar from being replaced by any foreign currency."

The silly fact is that Michele B. completely misunderstood what they were talking about. It was not "abandoning the dollar" as our national currency but a proposal to replace the U.S. dollar as the currency in which global financial reserves are traded. The Chinese have proposed have a multi-national currency for that purpose.

Both Geithner and Obama have opposed the idea. But it has nothing to do with abandoning the dollar as our currency, anyway.

Silly, nutty Michele. Aren't her constituents beginning to be embarrassed?

Ralph

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