Posted on 04/02/2009 10:01:07 PM PDT by Schnucki
THERE is so much going on at the G20 that the significance of Barack Obama's remarks during his press conference with Gordon Brown on Wednesday has been overlooked.
He tried to tell the world that the US could not pull it out of this recession alone, that the mightiest economy is not mighty enough on its own for the job, as it had been in previous downturns.
This was the key passage: "In some ways the world has become accustomed to the United States being a voracious consumer market and the engine that drives a lot of economic growth worldwide. And I think that in the wake of this crisis, even as we're doing stimulus we have to take into account our own deficits. We're going to have to take into account a whole host of factors that can increase our savings rate and start dealing with our long-term fiscal position, as well as our current account deficits.
"Those are all issues that we have to deal with internally, which means that if there's going to be renewed growth, it can't just be the United States as the engine."
This was a tacit admission that America's global supremacy is on the wane. Sure, it will remain pre-eminent for years to come, but not all powerful. A nation that will owe between one eighth and one twelfth of its GDP every year for the next decade will simply not have the spending power to revive the global economy on its own. A nation that got fat on oversized personal debt will have the elasticity to spend on imports they don't need as much as it has for the past generation. When the recovery is in place, Americans (and Britons for that matter) will need to start saving at a rate of
(Excerpt) Read more at blogs.telegraph.co.uk ...
You're not alone.
I hope you’re right, and we all have to keep in mind that these things NEVER go as predicted. Something will gum up the works that no one foresees. I just hope he is revealed for what he is before things have gone too far.
I look at what the dems are doing to this country, and I keep seeing the endless spending (and the repeated whining about how BUSH spent too much!) (he did, but they're making him look like a piker), and the huge deficits, and idiots like Noonan praising this CHILD as he giddily writes bad checks...
I dunno. I think it's all going to come crashing down at some point. I just think the media are so powerful that they control a large portion of our increasingly stupid electorate, and will keep this bunch in power in perpetuity. And how much of my life am I going to devote to being pissed off about something that won't change?
Sorry, venting again...
I don't mind the vent at all. You are saying what I am thinking.
I have three boys between the ages of 18-25 and I try to keep them informed of what is going on without making them too worried about the future. But so much has happened in the past few weeks I can't even begin to describe the implications to them in the few minutes their old dad gets in their busy, independent lives. (Thank God they grew up strong and smart.)
There are so many unknowns thrown into the works now that I am convinced that no person on earth knows what's going to happen.
What's that Chinese proverb? Are we living in "interesting" times or what? It's pretty easy to get depressed and worried, IMO.
I thought about it about an hour ago--great minds!
"May you live in interesting times." It's considered to be a curse.
The times are certainly interesting. We'll probably make it through this (he said optimistically) but it sure doesn't seem like it at the moment.
Cheers!
They are not leaders, politicians, or public servants. There is no logical consistency to anything they do. The Main Strem Media lauds and applauds every chaotic move as if it were 'brilliant strategy'.
The White House and the democrat congress are agents of chaos and it is going to get much worse if we don't get them gone asap. Visualize the chaos of removing part of the troops from Iraq - just enough to embolden the fanatics to come back and blow things up - including our troops.
Visualize printing paper money - enough to wall paper every house in the world - and every country, every currency, every economy suffers from our methods and madness.
We can't try and understand the chaos - all we can do is stop it asap.
Eventually, our agents of chaos will get us nuked by the Russians. They have endured enough chaos and don't want to see anymore of it and have the means to stop us.
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