Monday, November 15, 2004

When US Treasury Secretary John Snow says this ad naseum,
Our policy on the dollar is well known. We support a strong dollar. A strong dollar is in America's interests
what in the world should lead us to believe him when he says this?
[China's] public statements embrace the idea of moving to [renminbi] flexibility. They've taken a lot of steps to get their economy into a position where they can do so. We praise them for that and we urge them to move as fast as they can.
In fact, I have far more confidence in Catwoman winning Best Picture than in China breaking the dollar peg. I wonder what John Snow thinks of Catwoman? Maybe he knows something I don't.

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