As Barak Obama begs the world, and his own people to spend, and borrow, and pretend not to notice the deluge of dollars that will at worse destroy our currency or at best, launch a tsunami of hyper inflation the Chancellor of Germany, Angela Merkel stands strong. She’s not going along with an endless array of “stimulus packages” and massive government spending. She’s quite convinced that Obama is making matters worse with his spending and will not emulate the new American President. Merkel is helping Europe to avoid the spending trap Obama has stumbled into and exhibiting the kind of leadership and statesmanship that we used to have. Once again it begins to look like Europe will experience a depression while the United States will suffer a Great Depression II; or a lost decade like Japan.
Perhaps it’s in the American character, or lack thereof, in these decadent times, to try to avoid the pain associated with the economic mess we’ve made; but in this case the cure is destine to extend the disease and the crisis atmosphere for years. Merkel is the lone voice of sanity in the West saying that more insanity will not cure the insanity: it will extend the insanity for as long as we persist in insanity. Merkel is doing for Europe what we desperately need for someone to do for us: we need to put the checkbook away and take our medicine.
We don’t have the money to stimulate the economy. When we have to borrow money from China or print it in the basement of the Federal Reserve we debase our currency and instead of the massive increases in government and anti business policy of the Obama Administration we need to cut the spending and sharply reduce government involvement with entitlement programs. They just don’t work. All the money collected for Social Security and Medicare has long since been spent and the baby boomers who used the money for social programs will find that there will be no retirement for them! I guess there’s a certain justice in that but the times in which the people figure out the sheer magnitude of the theft that government has perpetrated on them will touch off some kind of social backlash. The breaking of the Social Security, Medicare, and Entitlement social contract can’t help but crash the government as we knew it because people are confronted with government corruption and the loss of their retirement, housing values, wealth, savings, and opportunity to work. Its going to be a big eye opener as to the role of government in society.
In the not too distant future the USA is going to look around and realize that Big Government means Big Corruption and either we get the government back and shrink it down to an appropriate size and scope or we go whole hog into a new fascist philosophy. Socialism for us is a given: we’re already there. The question is as socialism takes hold will we branch off into communism or Fascism as our final destination. Obama is leading us toward certain disaster and the only voice out there making any sense is the German Chancellor Angela Merkel.
Consider the following clips from Bloomberg.com and don’t forget to read the whole story at the following URL:
Just as the German chancellor vetoed a bailout for eastern Europe on March 1, she is now leading European opposition to U.S. President Barack Obama’s call for a global pump-priming package.
Merkel’s rejection of more stimulus touched off the first trans-Atlantic clash of the Obama administration and led critics to say she risks deepening the global recession. Even as finance ministers from the Group of 20 nations were meeting in southern England March 14, seeking to paper over differences with a pledge to deliver a “sustained effort” to boost growth, Merkel was 42 miles (67 kilometers) away in London, defending her opposition to further spending.
“Germany really has contributed its share,” said Merkel, 54, as she stood alongside Brown, the U.K. prime minister.
It is a reversion to type for Germany, which built its postwar society on the principle of monetary stability after the economic havoc of two world wars. Germany authored the limits on budget deficits for countries using the euro currency — only to flout them during the reign of Merkel’s Social Democratic predecessor, Gerhard Schroeder.
With the world economy set to shrink for the first time since World War II, Merkel has forged a European position not to go beyond tax cuts and emergency spending that the EU says amounts to 3.3 percent of gross domestic product.
“Merkel is definitely a woman to watch,” says Robert Leonardi, senior lecturer in European politics at the London School of Economics. While Sarkozy may be more flamboyant, he says, “she’s emerging more and more as a strong leader” of Europe.