You hit me first!! No I didn’t. YOU hit ME first!!
While Obama blames today’s American unemployment on France and Europe, French Foreign Minister Laurent Fabius threw it back at Barack Obama saying the threat of the European debt crisis originated in the United States. “Lehman Brothers was not a European bank” Fabius said.
The PIGS, Portugal, Ireland, Greece and Spain not to mention France and Great Britain have been spending at unsustainable rates ever since they recovered from World War II and now it’s our fault that they ran out of money. Here at home, our own government set up a house-of-cards in the mortgage market that inevitability had to fail like a Ponzi scheme. When it did, we chose a socialist to solve the problem and he blames France.
The Brits have Monty Python; we have Washington.
You can’t cure an alcoholic. It is something an alcoholic has to do himself. First he must recognize the problem; then he must be willing to endure the cure. Europe isn’t there yet on either count.
France has just chosen to go full bore Socialist, riots continue in Greece as the Neo-Nazis gain political favor and German voters are prepped to depose Angela Merkel. The nanny states with their unsustainable level of benefits are running out of money and the children are shouting like bloody murder for the continuation of their luxury. Reality is unacceptable so they are voting for promises. Apparently the pain has to get worse before Europe will be willing to suffer through the cure.
Some argue that the way out is to spend more to rev up the engine of government income which, of course, is greater tax revenue. The argument to spend more is based on the assumption that the problem is an economic recession. That’s understandable but this time it’s a false premise. The problem is not just another recession. The European private sector is not robust but it’s healthy. It’s only sovereign nations that are bankrupt. The wealth of a nation is derived from two sources, private assets and income that can be taxed and to a much lesser extent its mineral rights. Taken together the wealth is large but government’s capacity to spend is even larger. When nations face insolvency during a more or less normal economic sector down cycle, the problem is overspending, not the economy.
The world has lost its strong voice. The Americans have abdicated their position of leadership. The action and inaction by our President is working toward bringing an end to the period of American exceptionalism that he believes never existed in the first place.
Europe is as rudderless and wimpish as ever. They took the lead in starting military action in Libya because we didn’t. Now they are shirking responsibility for it. Germany was like John Kerry, they were for it before they were against it. No one has any idea what to do next or how to carry out a final game plan. It doesn’t appear anyone even has a final game plan.
Obama justifies our participation with the same rationale the neo-cons employed to justify the invasion of Iraq, that is, to bring Democracy to a nation whose leader is a killer of his own people. That’s not a move to the center; it’s a move by a socialistic president in accordance with the agenda of elements of the far right.
The “conservative” token at the New York Times, Ross Douthout says our participation in the war in Libya is ”a stark departure from the Bush administration’s more unilateralist methods”. Yet Bush sought and received the clear approval of Congress before taking military action; while Obama never even consulted Congress, let alone seek their approval. Democrats are led in revolt by Denis Kucinich who has asked why Obama should not be impeached for acting alone. Douthout is the Times’ vision of condescension into conservative thought. So much for the New York Times.
Both Bush and Obama sought UN approval. Obama yielded to the limitations imposed by the UN as to how the world wants the war to be fought. .Bush acted in what he saw as the best interests of the United States, not in deference to the Security Council dominated by Russia and China.
At home, Obama assigns Joe Biden to deal with the Republicans on the budget while he shoots a few baskets and vacations in Rio de Janeiro.