EU Presidency: Obama Plans 'a Way to Hell'

reply to post by skeptic1


Good post.. I agree with Europe. Thing is Obama knowa darn good and well that this bailout BS isn't going to work. He is the puppet and he is feeding the PTB with as much wealth as possible before it all goes to hell. All the while looking like he has done everything in his power to help the American people. I can se the press confere3nce six months from now or sooner. It will start something like "I regret to inform you the American people that we have now enterd into a total economical collapse. After doing everything in our power to prevent this with massive bailouts the economy was just to far gone to be saved.... Yada Yada Ya.....

reply to post by skeptic1

Czech Prime Minister Mirek Topolanek, whose country currently holds the EU presidency, told the European Parliament that President Barack Obama's massive stimulus package and banking bailout "will undermine the stability of the global financial market."

Topolanek correctly perceives the incredibly excessive Barrack, Pelosi, Reid Stimulus/ Porkulus as a way to hell because:

-Topolanek has had to conform to European standard of deficit spending which is 3 1/2% of GDP (gross domestic product of the European country). They can't exceed 3 1/2% and be a member of the EU. Good policy! The US because of Barrack/ Pelosi is spending 10% plus!!!! So Topolanek has made an easy judgement. Barrack and the US is on the road to HELL! Barrack has made a tremendous gamble that excessive spending will accomplish something when it never has in the past. Thank you Barrack!

- Europe has already overspent itself with deficit spending and knows full well the fallicy. It's easy for them to judge the neophyte POTUS who so far shows no sign of understanding the geopolitical/ economic situation.

- Europe has been on a conservative road for some years. They are amazed that the US elected a neophyte who is the most extreme liberal in the Senate. So they expect failure in the US as we do!

reply to post by mental modulator


Youre still missing the point. It doesnt matter what they did, really; they knew the game was stacked in their favor, because they knew they would get bailed out, so it didnt matter WHAT they did. The balance in the free market to corruption is that a lack of integrity will lose you market trust and business. But no one cares now, because they can still raid the pockets of consumers, through the government and the fed. Are there other issues? Sure. But the primary issue is the loss of consequences for actions. Kind of like I said earlier, comparing them to children. Same fundamental problem, and it comes from the same source, even. But no one EVER wants to talk about that.

Originally posted by Mdv2

Who says Obama doesn't want to the ride the way to hell? My theory is that they want the Dollar to collapse, not specifically Obama, but the so-called NWO (or Bilderberg). If they make the Dollar collapse, the emerging powers will get a sh&tload of problems to face. It would be way worse for them than for the US.

You are absolutely correct. China was set to become the world's number one superpower, and suddenly, a global economic crisis comes along, which hits China a lot harder than the United States, because China is far less self sufficient due to it's export economy.

Well this'll happen again in a few years once China has recovered again. Just to kick them down and keep 'em in their place.

reply to post by mental modulator


Obviously, some rules and regulations are necessary in the financial industry. I'm not arguing that we shouldn't have laws. I can tell you this much, however: I don't want some merry band of government morons in charge of it or any other industry.

That's not the subject, however. That subject is government spending, which is clearly out of control. $9.3 trillion of new debt over the next ten years is both unacceptable and unsustainable. Half of this year's budget is in deficit. This deficit is going to destroy the value of our currency, setting the stage for massive inflation, while also significantly inhibiting the ability of the public sector to borrow money from the banking system at a time when the government wants them to borrow.

Don't blame me when you're paying $10 for a gallon of milk by the middle of next year. That'll be your government's fault.

"To announce that there must be no criticism of the president, or that we are to stand by the president right or wrong, is not only unpatriotic and servile, but is morally treasonable to the American public."

-- Theodore Roosevelt

[edit on 26-3-2009 by pai mei]

Topolanek is absolutely correct. In fact, it doesn't take a genius to realize that you cannot spend your way out of debt, by incurring more debt.
Think about that statement. That is what they are trying to do!

The way you get out of debt is by cutting spending, and beginning to pay back your debt. That is just the opposite of what they are doing.
This is not rocket science. This is Economics 101, pure and simple.

Even most people that got in over their head with their credit cards realize that the road to recovery is to "cut up your credit cards", don't use them again(no spending), and pay off the debt as quickly as possible, so as not to incur interest charges which will continue to increase the balance indefinitely.

Originally posted by ProfEmeritus
Topolanek is absolutely correct. In fact, it doesn't take a genius to realize that you cannot spend your way out of debt, by incurring more debt.
Think about that statement. That is what they are trying to do!

The way you get out of debt is by cutting spending, and beginning to pay back your debt. That is just the opposite of what they are doing.
This is not rocket science. This is Economics 101, pure and simple.

Even most people that got in over their head with their credit cards realize that the road to recovery is to "cut up your credit cards", don't use them again(no spending), and pay off the debt as quickly as possible, so as not to incur interest charges which will continue to increase the balance indefinitely.

People aren't the same as countries. Virtually every successful business at some point has spent money not immediately available from revenues to grow and expand. This has happened with countries and many individuals. That is why there is lending and banking, to access money one doesn't have on hand.

This doesn't exonerate the abuse of borrowing and credit we've seen for so many years. It got to the point where bundled debt became something to buy and resell while the tangible assets became further abstracted and repayment became untenable.

Europe has positioned itself as a more equitable alternative to the US, for an audience of developing countries in Asia and the Middle East. They launched a unified currency in part response to an aversion to the US dollar.

But if one looks at what they actually offer, as opposed to welcoming them as a better choice, they don't stand up so well in harsh light. An unproven currency collectively used by a group of countries not all of which are
happy with their current situation. There jut may be withdrawing members sometime soon.

Germany is very much the economic engine of the EU, and it has problems as great or greater proportionally than the US. After having to deal with their imprudent over-investment in now collapsing Eastern Europe, they will be hit with problems of supporting other underperforming members of the EU and pressure to absorb massive unemployment throughout the continent.

I'd say the EU is in as bad or worse shape as America, with less fall back options such as resource wealth and innovative product.

They self-righteously make noises that present them in a more fiscally responsible posture, but their track record belies this.


Mike

reply to post by sad_eyed_lady

Hear ya sister, good for free, open and logical thinkings' WE ARE AT THE LEAST BELONGING FROM OTHER CIVI.LLISATI.ONS .
Peaceeeeeee-innnnnn

reply to post by ElectricUniverse


I agree. It's like the neighbor that intentionally maxes out his credit card only to file for bankruptcy. That’s how I see it and we should know the G20 has some backup plan in the works to ease the chaos when SHTF. Nothing we can trust though. It wont be the tax payers that are protected.