Posted on 11/12/2010 4:01:43 PM PST by 2ndDivisionVet
I get that you might have a difficult time believing that Sarah Palin was right on the whole "quantitative easing is a really bad deal" thing, Barack, but would you believe, say, the entire G-20 summit when it turns out they aren't so excited about your plan to print tons of money and keep the value of the dollar so as to gain the upper hand in international trade.
Leaders of 20 major economies on Friday refused to endorse a U.S. push to get China to let its currency rise, keeping alive a dispute that has raised the specter of a global trade war amid criticism that cheap Chinese exports are costing American jobs. ...
The biggest disappointment for the United States was the pledge by the leaders to refrain from "competitive devaluation" of currencies. Such a statement is of little consequence since countries usually only devalue their currencies -- making it less worth against the dollar -- in extreme situations like a severe financial crisis.
Yeah, obviously the world isn't thrilled with this development. There's a reason we're always pissed at China's refusal to devalue the Yuan and it has absolutely nothing to do with the fact that they are hoarding the sh*t out of the world's lumber. It's because, as Nobel-prize winning economist Joseph Stiglitz pointed out at a competing forum in Hong Kong, QE might strengthen America, not because it's increasing our growth capacity or legitimately increasing our competitiveness, but only because it f***s over basically everyone else, especially emerging economies that we're totes friends with like South Korea and Taiwan. It's definitely not making us friends with people who expect us to float their economies by gobbling up their overpriced, shoddy consumer goods. Yes, Stiglitz is kind of a socialist, who'd prefer that the US issue a second stimulus to build high-speed rail, but that's cool. He still makes sense. Plus, let's face it, the last person we should be taking economic advice from is China, which is the general opinion of the G-20.
This sucks for other reasons, too. It means that, on the world stage, we're not exactly viewed as economic superstars. It also means that everyone sort of hates him. Peeps don't want his autograph on dog-eared copies of his book, they'd rather not hug him if they don't have to, and he's been ticking off lists of people who still might like him to world reporters. If the world is just one big high school cafeteria, Obama's the kid eating alone in the corner with the pants that are too short. Some might even say that there's been a quantitative easing of someone's personal as well as federal currency.
The question is pretty obvious: is it better to have the world hate you because you stab them in the back of because you're just flat out crazy? Does it matter if you're trapped in a currency war that could cause everyone to throw up crazy tariffs and send us careening back into the great depression?
I have no idea.
Obama is sure going to have a lot of reading to do when he returns from his recent junket. Poor boy....
I’d feel sorry for Odumbo once I stop finish laughing..
“If the world is just one big high school cafeteria, Obama’s the kid eating alone in the corner with the pants that are too short.”
Best line of the article.
OK Congress.....How much unused manufacturing capacity does America have? And how much unemployment? Muiltinational corporations that have outsourced our jobs to earn investments from stocks at the expense of the American consumers who can no longer afford to buy ANYTHING?
Time for tariffs on China, sorry. Let’s start making our own stuff and let the ChiComs go back to being peasants before they actually become a threat.
Everybody Hates Obama or an Affirmative Action President sucks.
I don't feel sorry for Obama either, but I'm not laughing at the damage this complete, incompetent boob is doing to this country and the untold suffering he's inflicting on those among us who are struggling economically due to his continued failed policies and his arrogance in thinking he knows better than the rest of us.
When you stop laughing, pray for our country. It truly, desperately needs it.
FR hated obozo before hating Olameduck was popular.
Pray for America
Obama is an example of the Peter Principle in action, he is a good two bit community organizer who should have stayed in Chicago. He could be a big dog there but the world isn’t impressed.
No word from Harvard, world genius, Mr. Mittens on the Fed, eh?
Well, it’s only been a week since Palin made a clear statement, so I guess we’ll have to give Team Romney another week to react, again.
Proud to say I hated him before he was (p)resident.
Yes, he is that kid and he's standing on his chair giving a rousing speech about how much better tossed salads and fruit cups are. How everyone should join with him to petition the lunch ladies to replace pizza and hamburger days with Jello mold and toasted tofu salad days. Acting like everyone is hanging on his every word while most are eating as fast as they can to get out of there.
Some are egging him on sarcastically, which he completely misses, and others are literally egging him, whom he completely dismisses as special ed kids. In reality they're the chess club and calculus whiz kids. The political science, American history and ROTC kids are offering the shop teacher their own money if he will have his class build another dining area.
Long sentences but that's what 0bunghole looks like to me.
I never liked him either and now I have a teen-aged grandaughter with an Obama T-shirt. Lordy,what a shock when I saw it.
She’ll grow up.
In the global sandbox every Nation has it’s own interest at heart except for Uncle Sucker. The burning desire of our stupid elitists to create a global collective governing the world for the “common good” is absurd. Everyone guards their borders and citizenship except for Uncle Sucker by our elitists still blather on about a “borderless global villiage.” In the mean time, we are getting over populated and over saturated with needy people with no jobs and no education.
The deeper the Nation’s entanglements, the more everyone hates and resents each other and the more American people get screwed. We are going to end up in a big fat war by letting this global insanity go on.
We need to get out of this globalism cesspool. Like Marxism, it sounded good in theory. In reality it stinks.
lmao!
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