They are sacrificing so we can indulge
Conjured money is one of my "go to" snarks. I claim nothing beyond my gut and some real confusion when it comes to economics. Still, from my far window the economic policies of the Obama/Bush team (those who created the problem are still in charge.) appear dangerous to say the least. Does Obama have a plan b? is a legitimate question.
A close friend recently spent the day with a major economist - I am not at liberty to disclose this person's identity - but she revealed that he thinks Obama is doing some the the right things though "It is not enough." and he went on the say that the real problem is China. The Chinese own most of our debt - they have financed us for the last decade. The relationship has been beneficial to them. There will come a time - some say soon - when they will balk at being our credit card. What then?
"they are sacrificing so we can indulge"
My perception that Obama's prime directive is to manage America's wane with a minimum of disruption was strengthened this week by his actions and statements in Europe. He is an errand boy, sent by grocery clerks...The errand he was on in Europe was to let the world know that we will behave. The "grocery clerks" are hail from Goldman Sacks...
Going along to get along is how WAPO put it.
What's striking about Obama's diplomacy, however, has been his willingness to embrace the priorities of European governments, Russia and China while playing down - or setting aside altogether - principal American concerns.
Is the new president shrewd and pragmatic about using his power at home and abroad - or too passive, even weak?
The era of lowers expectations has arrived. How quickly the bar is lowered is the only pertinent question now.
A close friend recently spent the day with a major economist - I am not at liberty to disclose this person's identity - but she revealed that he thinks Obama is doing some the the right things though "It is not enough." and he went on the say that the real problem is China. The Chinese own most of our debt - they have financed us for the last decade. The relationship has been beneficial to them. There will come a time - some say soon - when they will balk at being our credit card. What then?
"they are sacrificing so we can indulge"
My perception that Obama's prime directive is to manage America's wane with a minimum of disruption was strengthened this week by his actions and statements in Europe. He is an errand boy, sent by grocery clerks...The errand he was on in Europe was to let the world know that we will behave. The "grocery clerks" are hail from Goldman Sacks...
Going along to get along is how WAPO put it.
What's striking about Obama's diplomacy, however, has been his willingness to embrace the priorities of European governments, Russia and China while playing down - or setting aside altogether - principal American concerns.
Is the new president shrewd and pragmatic about using his power at home and abroad - or too passive, even weak?
The era of lowers expectations has arrived. How quickly the bar is lowered is the only pertinent question now.
Labels: Barack Obama, china, collapse, credit based economy, dollar, weakness