Fred-6 and the perpetual disaster

It takes a lot of stones to lecture other nations about currency manipulation when you lead a country that is in the process of taking part in some ugly, ugly currency manipulation. I speak of Bill and Ted’s adventure across the Pacific, Bill being played in this version by the Economic Eraserhead, Tim Geithner, while the Ted role goes to, who else, Fred-6!

We have seen some shameful times in America the last couple of years, but we’re starting to find out how low the current Adminigime can go – begging, hats in Oliver-esque hands – other nations to cap trade deficits and quit screwing around with their own funny money when we are doing just that. Do I need to come up with a negatively clever play on the hopeychangey here?

From bastions Liberal and Conservative, the Adminigeme’s foray into the cutthroat kabuki politics of international monetary diplomacy has been equal parts embarrassment and disaster. I’m reminded of the great line from the big budget howler Armageddon, a line I will surely flub a bit: We’re sending these guys to save the world,a nd I wouldn’t trust them with a potato gun. Applicable, we’re sending these guys to talk international finance, and I wouldn’t trust either one of them to count the money after a bake sale.

What, exactly, are Bill and Ted and the rest of their merry clan trying to accomplish, exactly? As is an unwritten but standard American rule in these things, we don’t go abroad to talk money until the details have already been worked out. It’s called smart power, and Democrat and Republican POTUSes past have stood by that power – it wasn’t an invention of a lunatic theory, it’s called “smart” because it works.

Instead, Fred-6 has repeatedly demonstrated that he thinks his presence will be enough to halt the tides, when it’s becoming clear (remember when the spinoff of that term used to be funny?) that there is little foreign leaders look forward to more than a visit from the sitting American President. He’s like the communal bicycle of international diplomacy – every leader has taken him for a ride, while we repeatedly get stuck with the consequences.

Now, let me be clear, technically the President has nothing to do with the Fed’s decision to print more money, yet somehow I don’t see Ben Bernanke going rogue and just coming up with this on his own, without conferring with the West Wing. Even the NYT – the bloody New York Timesis piling on in its own cryptic way:

Now poor Ben S. Bernanke, who succeeded Mr. Greenspan as Fed chairman, is being blasted from all sides. It is bad enough that his latest effort to revive the American economy has taken on a name previously used for a 40-year-old cruise ship that no longer sails — QE2. He is attacked by Americans for printing money and by overseas officials for trying to help American trade by undermining the dollar. Some Republicans claim to believe the country would be better off without a central bank at all.

Fred-6, unfortunately, is a buffoon. With every day I use the “Fred-6” moniker, it’s relation to the source and to the story that came from it is becoming not just eerie, but comically and cosmically tragic. Then again, what do we expect? Everyone who pays attention to this business has a take, but I like Ed’s summation:

In 2008, we warned about the dangers of putting a man in the White House with no executive, military, diplomatic, or private-sector experience.  It should shock no one to find that American leadership has utterly vanished on the international stage when we elect someone incapable of providing that leadership.  The lesson from both the Right and Left coasts’ media is that Barack Obama is in way over his head and doesn’t have a clue how to get back to the surface.

The key here is the list that is becoming more frightening by the day – no experience in business, administration, the military, finance or the private sector. Nothing. The man was an agitator, which might be nice when race-hustling on the South Side, but quite a different thing when meeting with the leaders of the G-20.

I’ll close with a few words from The Daily News, which posted a story equal in its ridicule to those over at WSJ and SFC:

Obama’s inauspicious 10-day, four-nation trip included a failure to land an anticipated slam dunk free trade agreement with South Korea. It also included a botched effort to rally Western allies to press China to budge on a monetary policy that threatens to keep the U.S. economy in the tank. Yet Obama appeared to shrug off the lack of results during summit meetings with the world’s most powerful leaders.


About godsowncrunk
I'm King B, the originator of the Jellywhite lyrical style and god's own crunk.

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