Obama’s Spendathon, and the craven manipulation of the economic crisis to advance a host of Socialist programs, has created bad blood between the United States and our European Allies who are more prudent in their economic policy. The Obama administration seems to favor a parade of stimulus bills and pork barrel spending in an endless orgy of government intervention, government growth and government corruption that they imagine will somehow fix the economy. Economic fears have made them invincible in advancing every crackpot spending program that a power drunk democrat can dream up and to date the Republicans have utterly failed to put the brakes on the free spending Socialist/Democrat party. This attitude isn’t shared by Europe because they favor a wait and see approach and a prompt withdrawal of stimulus measures when the economy rebounds and they’re unwilling to embark on an ill advised spending spree that will put their currency at risk.
Consider some clips from the Financial Times of London.
Disagreements between the European Union and the US over how to combat the global recession widened on Tuesday as EU governments made clear they had little appetite for piling up more debt to fight the collapse in output and jobs.
Finance ministers from the 27-nation bloc insisted in Brussels that it was doing enough to support world demand and did not need at present to adopt another fiscal stimulus plan, as Washington is urging.
It also emerged that Gordon Brown, UK prime minister, was struggling to organize the summit. Britain’s most senior civil servant claimed it was hard to find anyone to speak to at the US Treasury. Sir Gus O’Donnell, cabinet secretary, blamed the “absolute madness” of the US system where a new administration had to hire new officials from scratch, leaving a decision-making vacuum.
“There is nobody there. You cannot believe how difficult it is,” he told a conference of civil servants.
Apparently the major differences about how to respond to the global economic meltdown are bad enough; but the disorganized state of affairs at the Treasury Department and the dismissive attitude for legitimate concerns of Europe compound the problems. Like President Obama; the Treasury Department, (Consisting of Boy Wonder Keith Geithner, , and his Golden Retriever “Marx” who is at present his only known staff), is indifferent to the opinions of others. The Obama Administration is so intent on destroying free market capitalism, socializing medicine, seizing education, nationalizing the energy industry, banking, and automotive companies, no matter the cost, that they can’t hear our European Allies counsel over the din of their own socialist ambitions. The simple truth of the matter is that Europe is alone in fighting the financial crisis because the Obama Administration is using the crisis to end capitalism and turn America Socialist. Barak Obama is not concerned that we may have another great depression or worse because the death of market capitalism and a more socialist America is worth the price. As Neo-Socialist Democrats go: Barak Obama is a true believer.
Consider the following clips from the Times Online:
A rift between Europe and America over the crux of the G20 summit was last night threatening Gordon Brown’s hopes for a deal to rescue the world economy.
The size of the challenge facing the British Government in bringing together world powers was emphasized in a candid admission by Britain’s most senior civil servant that it was proving “unbelievably difficult” to liaise with the Obama Administration to prepare for the meeting.
A simmering row about the whole point of the G20 meeting on April 2 burst into the open when Larry Summers, chief economic adviser to President Obama, called on other countries to follow America’s lead in pumping even more money into stimulus plans to revive the world economic system.
The United States’ stimulus package of $787 billion is equivalent to about 5.5 per cent of its annual economic output, although it is spread over three years, whereas the EU has struggled to reach agreements on a sum that barely reaches 1.5 per cent of its total GDP.
Mr Summers’s plea was attacked by Jean-Claude Juncker, the Luxembourg Prime Minister, who heads the eurogroup of single currency countries. He declared: “The 16 euro-area ministers agreed that recent American appeals insisting that the Europeans make an additional budgetary effort to combat the effects of the crisis was not to our liking.”
Mr Juncker suggested that the eurozone countries would rather adopt a wait-and-see approach than rush to incur even more debt.
His outspoken words were followed by mystification from Germany. Peer Steinbrück, the German Finance Minister, speaking after EU finance ministers met in Brussels, said: “There was a significant amount of bewilderment about this in our discussion.”
The Lights are on at the White House and the Treasury but clearly no one is home. The G20 summit meeting is a shambles before it begins and Obama’s headlong ambition not to” let a good crisis go to waste” is threatening to undermine concerted actions by the world’s economic powers to battle the crisis. Mr. Obama is acting as if he’s in charge and the rest of the world should simply fall in line with his wishes as his brinksmanship places the economy of the entire world at risk. Words like “arrogance” and “hubris” hardly seem adequate in describing the dismissiveness of the Obama Administration as they goosestep toward a world depression, ignoring friend and foe alike, printing worthless dollars to fund insane spending, cutting the very heart out of the American Economy, all in the name of Universal Health Care: that no one will like.
I suppose we can take heart that some of the mainstream media has begun to take a more critical view of our Messianic New President. Consider some clips from an opinion piece by Camille Paglia writing in Salon:
Heads should be rolling at the White House for the embarrassing series of flubs that have overshadowed President Obama’s first seven weeks in office and given the scattered, demoralized Republicans a huge boost toward regrouping and resurrection. (Michelle, please use those fabulous toned arms to butt some heads!)
First it was that chaotic pig rut of a stimulus package, which let House Democrats throw a thousand crazy kitchen sinks into what should have been a focused blueprint for economic recovery. Then it was the stunt of unnerving Wall Street by sending out a shrill duo of slick geeks (Timothy Geithner and Peter Orszag) as the administration’s weirdly adolescent spokesmen on economics. Who could ever have confidence in that sorry pair?
And then there was the fiasco of the ham-handed White House reception for British Prime Minister Gordon Brown, which was evidently lacking the most basic elements of ceremony and protocol. Don’t they read the “Iliad” anymore in the Ivy League? Check that out for the all-important ritual of gift giving, which has cemented alliances around the world for 5,000 years.
Even Howard Fineman, the lackey of MSNBC’s Hardball host Chris Mathews, edged ever closer to actually criticizing the progressive Messiah in an incoherent, narcissistic bit of drivel that’s very instructive of what the New York Media Elites are discussing over evening cocktails. I disagree with much of the conclusions of the Liberal Elites who seem to think the “stimulus” was too small and not targeted enough, but it’s fascinating to see the elite squirm as Obama fails to get a handle on the economy. The cocktail crowd will abandon him in droves if he doesn’t stop the economic hemorrhaging soon and it will be a sight to witness the American Mainstream Media trying to criticize the first black president, whom they created, for being an utterly incompetent ideologue. The New York Liberals commitment to green jobs, socialized medicine, unions, free K- Ph.D education is unshakable up to the point when they lose over half their 401k’s to the Obama Administrations War on Business and Prosperity. The only real principle that American Neo-Socialist Liberals always follow is self interest. If the cost to them is greater than the “other people’s money” they can compel the government to steal for them then all bets are off.
Here is the URL for Fineman’s article because I just can’t bring myself to quote him: