The Obama made no effort to warn markets that tensions with China over tire exports to the US were coming to a head before slapping tariffs on those goods late Friday. Even your dimmest White House political hack had to take into account the likely reaction of the financial markets to the news. Hell, I figured it out Saturday morning with my four-year old tugging on my leg while I was writing the article…
With the dollar already under pressure, the lack of groundwork-laying from the administration, which is populated by seasoned pros like Geithner and Summers, sends a clear message to the markets: we don’t care about the dollar,and won’t until its fall becomes disorderly.