World Leaders REJECT obama's Reckless Spending Binge

[Calvinist]

Originally Posted by sanrene

A total and complete repudiation of the fiscal policies of this president. They tried it his way, agreeing to increase their debt with stimulus and finally realized that IT DOESN'T WORK.

You cannot keep FUNDING bloated governments. They need to SHRINK.

World leaders pledging to reduce global deficits - Yahoo! News (http://news.yahoo.com/s/ap/20100627/ap_on_bi_ge/world_summit;_ylt=At1osHMW04NFnYG6Kd5TBK2yBhIF;_yl u=X3oDMTJkbWFudWJ2BGFzc2V0A2FwLzIwMTAwNjI3L3dvcmxk X3N1bW1pdARjcG9zAzEEcG9zAzMEc2VjA3luX3RvcF9zdG9yeQ RzbGsDZnVsbG5ic3BzdG9y - broken link)



You mean HIS concern that it will damage him and his party politically, that's really all that matters to this president.



He is truly NOT a student of history.

The spending binge in the 30's prolonged the GD.

Keynesian economics is going the way of the dinosaur......thankfully.

Never expected to see a US president tell FRANCE they need to spend more money on entitlements.

[SourD]

Originally Posted by txgolfer130

What a complete crock. The Euro countries HAVE to stop their stimulus packages, simply because for one, they spent more than we did, two they actually forced the banks to lend the money out...they just did it to other banks.

LOL, you mean he's not a student of YOUR brand of history, the revisionist and hyperbolic history.

And again, as per usual, Keynesian economics didn't get us into this mess, and if you knew HISTORY you would know that.

Not a single European country spent anywhere near what we did in bailouts and stimulus. Where did you get that lie from?

[Cunucu Beach]

Got this in an email this morning from an American friend who has been living in Germany for several years. He has no intention of ever returning to the US. He is very unhappy with the state of affairs in America as are many other Americans living there.

"We hope Merkel did not once again fall for what the US "Candy Man" was selling this weekend -- more bank bailouts. She failed her people once, but twice will be unacceptable.

Speaking of Europe, the major powers there are moving toward a post-dollar world by rejecting President Obama's calls to jump on America's debt grenade. The prescriptions coming from Washington translate loosely to: our airship is on fire, so why don't you light a candle under yours so that we may crash and burn together. Given that dollar strength is largely seen as a function of euro weakness,debt troubles in the eurozone's fringe economies have created a distorted confidence in the greenback. However, as you might imagine, Europe has higher priorities than being America's fall guy. Led by an ever-bolder Germany, the European states are wisely choosing not to throw themselves on the US/UK funeral pyre, but to wisely clean house in anticipation of China's rise now that they have begun to unpeg the Yuan to fight the inflation caused by the US Dollar.

In peacetime, hardened troops will likely tolerate a blowhard general for an extended period; but when the artillery opens up with live ordnance, an ineffectual leader risks rapid demotion. The newspapers are now riddled with hints that foreign governments have lost faith in Obama's Washington and the dollar reserve system. It seems to me only natural that after a century of war, inflation, and socialism, the next hundred years would belong to those people who hold the timeless values of hard money and fiscal prudence. Unfortunately, US policymakers are not those people."