Tuesday, October 19, 2010

That was a quick expiration date.

Excuse me for asking an illiterate-y question. But doesn't debase mean make weaker? And yes. Illiterate-y is a word. Google it.

I knew I should have gone to that Timmay Geithner thing yesterday in Palo Alto where he said he wasn't going to debase the dollar. I just wanted to see him lie right to my face. Though I couldn't bring myself to chuck out any money for the pleasure. Even if it was only 50 bucks or less.

Today this "For U.S. Treasury Secretary Timothy F. Geithner, a weaker dollar may now be in the national interest."!? Link.

For shits sakes. I don't know why I never learn that when President Money Bags says "let be be clear" it means he is going to do exactly what he says he isn't going to do. I guess with Timmay it means he will change his mind the very next day.

No wonder investors are on strike. Let me be clear - this administration just wants to build confidence.

2 comments:

Steve B said...

Yer thinking of "devalue."

Debase means to humiliate or ridicule.

He's certainly doing everything he can to debase the dollar.

she said: said...

Well... he does need to get those gas prices back up so he can create all those green jobs. ;)

Don't get me wrong. Tech land loves the lower dollar. Most people driving cars probably won't. And, I'm not sure people are going to be as tolerant of high gas prices this time around.

Debase - we are both right according to dictionary.com. But then today, he says he isn't intentionally doing anything to the dollar. And there is no reason for further weakness. Because he says so!

1. Reduce (something) in quality or value; degrade.
2. Lower the moral character of (someone): "war debases people".