Forget all the conspiracy theories of a mythological “North American Union” combining us with Mexico and Canada. Barack Obama wants America to be an unofficial member of the European Union. The path he outlined in his quasi “state of the union” address is to remake America on the model of a European welfare state.
Down to lows unseen since 1997, the financial markets are as nervous as a politician on a polygraph. When the president speaks of catastrophe, they panic. When Tim Geithner promises to continue the Bush-Paulson trial and error method of determining how to handle toxic mortgage-based securities and foreclosures, the Dow Jones self-immolates.
And when Fed Chairman Ben Bernanke says the recession will be over by year’s end, the market shoots back up again.
Tuesday night, Barack Obama had the chance to switch roles. From Dr. Doom to the Steady Healer, our president could have changed the mood of country by abandoning his fearful chants for a more specific set of policies that could have made Bernanke’s prediction more likely to come true.
But he didn’t; instead, he moved aggressively to hurt our economy and reduce our defenses. He put America on the very path that will condemn the economy to greater recession.
Obama tried to undo some of the damage his own rhetoric has done since he was inaugurated little more than a month ago. He began by saying we’d rebuild, recover and become stronger than ever. But how? Continue reading . . .
No comments:
Post a Comment