The global economy isn’t new

THE GLOBAL ECONOMY ISN’T NEW…. Last year, Rep. Michele Bachmann (R-Minn.), deeply confused about what a reserve currency is, was convinced that the Obama administration was trying to create some kind of “global currency.” She had no idea what she was talking about — every Bachmann tirade on the subject made her look just a little dumber — and eventually moved on to other tantrum-worthy fantasies.

This week, for example, the nutty Minnesotan lawmaker is outraged by President Obama’s interest in the “global economy.” Here were Bachmann’s remarks on a radio show a few days ago:

“If you look at the G20, what they’re trying to do is bind together the world’s economies. Look how that played out in the European Union when they bound all of those nations economies together and one of the smallest economies, Greece, when they got into trouble, that one little nation is bringing down the entire EU.

“Well, President Obama is trying to bind the United States into a global economy where all of our nations come together in a global economy. I don’t want the United States to be in a global economy where, where our economic future is bound to that of Zimbabwe. I can’t, we can’t necessarily trust the decisions that are being made financially in other countries. I don’t like the decisions that are being made in our own country, but certainly I don’t want to trust the value of my currency and my future to that of like a Chavez down in Venezuela. So I think clearly this is a very bad direction because when you join the economic policy of different nations, it is one short step to joining political unity and then you would have literally, a one world government.”

Bachmann did not appear to be kidding.

She actually seems to believe that President Obama came up with the idea of the modern global economy, in which there’s some interconnectivity between international financial systems and the fortunes of one country can affect another. Does Bachmann even hear the words coming out of her mouth?

As for G20 meetings being a step towards a “literal … one world government,” Yglesias described this as “insane.” That’s as good an adjective as any.

I wonder what kind of leadership role House Republicans will give Bachmann if they retake the majority?