Wednesday, September 14, 2011
Jim Cramer to Geithner: "Lock in the financing now!"
Did anyone see this on CNBC this morning? While questioning Treasury Secretary Tim Geithner at the "Seeking Alpha" conference here in NYC, Cramer asked why the U.S. Treasury doesn't "lock in" a bunch of "low interest rate financing" now so that the United States doesn't face the same problem as Europe.
Jesus, I can't believe this. It just keeps getting more and more pathetic.
Um...Jim...you mean dollar financing?
In case you haven't heard, the United States Government is the issuer of the dollar and as such, isn't in need of "financing" nor does it have to worry about any rate that it can't pay. It sets the rate.