they’re all gonna laugh at you, they’re all gonna laugh at you
You may have heard that. But what you may not have heard was how he was laughed at. Apparently he did not just “elicit some laughter” as the NYTimes cursorily described, he was straight up laughed at. The American press did not necessarily pick up on the importance of this. Instead, they pegged the meetings as successful. But as The Telegraph describes, “US Treasury Secretary Tim Geithner was laughed at by an audience of Chinese students after insisting that China’s US assets are safe…. The comment provoked loud laughter from the audience…” We’re a laughingstock! A bit disconcerting.
who cares if you’re laughed at? We still have never defaulted (the Chinese have) and none of our efforts at reviving the economy have resulted in mass starvation and cannibalism. And the people who control China’s money are still handing the money over because the US government is still the safest bet. This is like worrying that a bunch of MBA students don’t like your business plan, they don’t know shit, otherwise they would be out running a company they started, not sitting in a classroom.
(Other notes on the price discussion, yes the dollar index is down a lot in may, but it’s up from 1 year ago. The value of the dollar just skyrocketed because the US government is so secure and now people are relaxing some and diversifying. It would be nice for it to stay up though as it is below historical values.)
