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Americans can't buy the world's prosperity: Obama
AFP on Yahoo ^ | 6/27/10 | AFP

Posted on 06/27/2010 7:08:30 PM PDT by NormsRevenge

TORONTO (AFP) – Debt-ridden Americans can no longer "borrow and buy" the world's way toward prosperity, US President Barack Obama has said, warning new drivers of growth were needed to fuel global recovery.

"After years of taking on too much debt, Americans cannot -- and will not -- borrow and buy the world's way to lasting prosperity," Obama said at the end of G20 talks focused on ending the lingering effects of the economic crisis.

Instead the globe should look to consumers elsewhere to pick up the slack, Obama said as he tried to mark the end of an era that saw the American consumer bankroll global growth, and become debt-laden in the process.

"No nation should assume its path to prosperity is paved with exports to America. Indeed, I've made it clear that the United States will compete aggressively for the jobs and industries and markets of the future," he said.

Obama has vowed to double US exports in five years.

He won some backing from his G20 partners, who on Sunday endorsed "efforts to rebalance global demand to help ensure global growth continues on a sustainable path."

As part of the effort to remake the global recovery Obama insisted that countries must not have any "undue advantage," urging China to allow its currency to strengthen.

(Excerpt) Read more at news.yahoo.com ...


TOPICS: Business/Economy; Foreign Affairs; Government; Politics/Elections
KEYWORDS: americans; g20; obama; prosperity
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To: NormsRevenge

He has no understanding of economics.

His head is filled with marxist sound-bites that he uses as a substitute for thought.

He couldn’t begin to explain the historic foundations of America’s prosperity or the causes of our present decline.


21 posted on 06/27/2010 7:16:06 PM PDT by SirJohnBarleycorn
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To: woofie

Can’t.

We don’t have the workers for it.

those we do have are union...

plus you’d have to get the environmental regs. rolled back...

Really kinda sucks to be US...don’t it.


22 posted on 06/27/2010 7:16:31 PM PDT by EBH (Our First Right...."it is the Right of the People to alter or to abolish it,")
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To: RockinRight

He is such a ‘poser’ and communicator too.. lolol


23 posted on 06/27/2010 7:17:45 PM PDT by NormsRevenge (Semper Fi ... Godspeed .. Monthly Donor Onboard)
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To: EBH

So how about you just go over in the corner and quit then.

http://www.youtube.com/watch?v=RR1fDL7x1Sg


24 posted on 06/27/2010 7:18:06 PM PDT by Cringing Negativism Network (http://www.youtube.com/watch?v=RR1fDL7x1Sg)
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To: NormsRevenge

Is the clown prepared to roll back taxes, excessive regulation, and gov’t health care so business can be come more profitable.? We have nothing to export anyway except gov’t union workers, illegal immigrants, and lawyers. What a lunatic.


25 posted on 06/27/2010 7:19:17 PM PDT by VRWC For Truth (Throw the bums out who vote yes on the bail out)
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To: VRWC For Truth

Look.

Is American’s conservative base so naively vested in the disaster mis-named “free trade” than we’ve become unable to actually root for OUR SIDE?

http://www.youtube.com/watch?v=RR1fDL7x1Sg


26 posted on 06/27/2010 7:21:19 PM PDT by Cringing Negativism Network (http://www.youtube.com/watch?v=RR1fDL7x1Sg)
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To: SirJohnBarleycorn
I can explain how we got into our current situation with two quotes from history.

'What prudent merchant will hazard his fortunes in any new branch of commerce when he knows not that his plans may be rendered unlawful before they can be executed?'

James Madison.

‘You Americans are so gullible. No, you won’t accept communism outright, but we’ll keep feeding you small doses of socialism until you’ll finally wake up and find you already have communism. We won’t have to fight you. We’ll so weaken your economy until you’ll fall like overripe fruit into our hands.’

Nikita Kruschev
27 posted on 06/27/2010 7:21:58 PM PDT by cripplecreek (Remember the River Raisin! (look it up))
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To: Sioux-san
They are laughing at this clown behind his back due to diplomatic courtesy. Soon they will be laughing at his face. How cannot they laugh at a person who says exactly the opposite of what he doing. The liar socialist clown talks about fiscal responsibility and then goes on to spend more of our money than all the other Presidents in history combined.
28 posted on 06/27/2010 7:22:27 PM PDT by jveritas (God bless our brave troops)
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To: cripplecreek

Kruschev is dead.


29 posted on 06/27/2010 7:24:03 PM PDT by Cringing Negativism Network (http://www.youtube.com/watch?v=RR1fDL7x1Sg)
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To: NormsRevenge

Lead by example, 0bama!


30 posted on 06/27/2010 7:24:23 PM PDT by al_c (http://www.blowoutcongress.com)
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To: NormsRevenge
I've made it clear that the United States will compete aggressively for the jobs and industries and markets of the future,"

WTF? Why then are you killing our private sector?

31 posted on 06/27/2010 7:24:45 PM PDT by umgud (Obama is a failed experiment.)
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To: Yossarian

How is Bam expecting to ‘double exports’ when he and his Dem leeches keep heaping new taxes on businesses. If these cretins called Dems pass a VAT tax or a ‘Crap and Tirade’ Bill no way will exports go up but way down!


32 posted on 06/27/2010 7:28:17 PM PDT by tflabo (Restore the Republic)
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To: RockinRight
Just LMAO as I heard that phrase in my head in Obama’s voice complete with inflections.

You should be able to hear him in your head, hes had more radio and tv time than the last 4 republican presidents combined. I gone through 3 remotes in the last 2 years trying to avoid him on tv as much as possible.

33 posted on 06/27/2010 7:28:42 PM PDT by mountn man (The pleasure you get from life, is equal to the attitude you put into it.)
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To: NormsRevenge

More tough talk from the biggest crybaby bitch on the planet.

STFU.


34 posted on 06/27/2010 7:29:55 PM PDT by snowrip (Liberal? You are a socialist idiot with no rational argument.)
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To: Brilliant
'Sounds good' Barack. . .means nothing, given your spending habits. No doubt, got some 'head nods/bobs'. . .but I doubt; much else.

No one, just 'hanging' on this man's empty words - like they used to.

That is, save the MSM; who STILL carry his water despite a whimper or whine, now and then. They are like abused children; they will never give up trying to please Obama - to all our detriment.

35 posted on 06/27/2010 7:30:09 PM PDT by cricket ('flies don't lie')
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To: tflabo

How about our side stops actively trying to offshore American jobs by supporting outsourcing, first things first.

Then, we can lecture Obama on jobs.

As things stand, we’re sort of in a very large glass house...

IMHO.


36 posted on 06/27/2010 7:31:17 PM PDT by Cringing Negativism Network (http://www.youtube.com/watch?v=RR1fDL7x1Sg)
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To: Cringing Negativism Network

So is Madison but they are a great indicator of where we were as opposed to where we are.

Madison understood the failure of over regulation and Kruschev understood its success if used for his means.


37 posted on 06/27/2010 7:34:06 PM PDT by cripplecreek (Remember the River Raisin! (look it up))
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To: Brilliant
"After years of taking on too much debt, Americans cannot -- and will not -- borrow and buy the world's way to lasting prosperity," Obama said

However the Federal Govt. is exempt, right Bam?

38 posted on 06/27/2010 7:35:12 PM PDT by tflabo (Restore the Republic)
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To: cripplecreek

You’re over-complicating things.

Here’s a far more relevant quote:

“Buy American”


39 posted on 06/27/2010 7:35:12 PM PDT by Cringing Negativism Network (http://www.youtube.com/watch?v=RR1fDL7x1Sg)
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To: Brilliant

Did someone say that Barak Obama was once a manager at the Dairy Queen¿ He seems to have gotten some ON THE JOB training to make that statement.


40 posted on 06/27/2010 7:36:49 PM PDT by rovenstinez (,)
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