The Dreaded Vote of Confidence

Oh no! The dreaded vote of confidence. You know in professional sports when your team is playing lousy and just put in a dismal performance and the owner of the team or the GM gives you a “vote of confidence” and you’re fired the next week? Well it is a good thing that the Treasury Secretary isn’t a baseball manager or he would be gone. After the dollar took another drubbing, the White House came out and said that Obama has "tremendous confidence" in Treasury Secretary Timothy Geithner right after the dollar hit an 18 month low.

Oh sure, the vote of confidence in question may not be in the US dollar but as the weakening dollar adds to inflation and increases the cost of oil and almost every commodity the average American buys, I would not feel too easy if I were Tim Geithner right now. The President has confidence in Mr. Geithner but do they have confidence in the dollar? The silence about the dollar out of the White House right now is deafening to the markets.....read the entire article.