31 May 2009

i'm sure the whole strategy is to dazzle them with our urbanity

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That is after all how you pump money out of rubes, whether or not you're giving them good value. Time tested. Time honored. The hitch is that Chinese rubes don't completely buy into our exceptionalism and aren't likely to equate a great deal of it with anything but stupidity. So there's every chance Geithner looked like nothing so much as a seedy gambling addict pleading with the casino bosses for another round of credit.

I'd really like to know how his grousing about the relative currency valuation would faze them in the least. We're stupid enough to nuke our own manufacturing capabilities and they're supposed to lay back and not fleece us for it? Please.

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