European Debt Crisis Discussed At Camp David...

by: Les Carpenter
Rational Nation USA
Liberty -vs- Tyranny

As President Obama is hosting a summit with G8 leaders at Camp David this weekend to discuss nothing less than "economic growth" I couldn't help feeling just a bit cynical. It's probably just me, nonetheless being the skeptic has become normal for me over the last eight years.

Just a few select examples from yesterday's The New York Times...

Leaders of the world’s richest countries banded together on Saturday to press Germany to back more pro-growth policies to halt the deepening debt crisis in Europe, as President Obama for the first time gained widespread support for his argument that Europe, and the United States by extension, cannot afford Chancellor Angela Merkel’s one-size-fits-all approach emphasizing austerity.
So, what the other leaders are really going to do is to pressure Germany's Chancellor to fully adopt the Keynesian economics that apparently all socialist countries, including the USA, accept as the best world economic view. I may be off base here but it seems to me this is just a brick being laid in the building of the foundation for a one world economic and government order...

The leaders did concede somewhat to Ms. Merkel’s position on austerity, acknowledging that national budget deficits had to be addressed. But they added that spending cuts must “take into account countries’ evolving economic conditions and underpin confidence and economy recovery,” a recognition of how much the austerity packages have dampened consumer and political confidence in Europe.
This I suspect amounts to "throwing Chancellor Merkel a bone," just enough to get her to accept their view of "the bigger picture" and what they consider the correct remedial approach to the world's economic woes. I do find it quite interesting the nation that spawned Karl Marx is the nation most inclined to less government in the present. At least from a world or global view.
... While Greece is not part of the Group of 8 — the club is made up of the United States, France, Germany, Britain, Italy, Canada, Japan and Russia — the political and economic crisis facing Athens hovered over the meeting. Greece has been unable to form a government after voters, angry over austerity measures, brought down the last government, and there is now talk of bringing back the drachma and abandoning the euro.
One would think with the experiences of Greece and the problems its pathetic socialist government is responsible for causing would create a clearer picture of the dangers of ever greater dependency on Leviathan. Apparently not so.
With his own re-election bid tied to a fragile American economic recovery that could easily reverse if Europe’s economy takes another turn for the worse, Mr. Obama was pushing hard on Saturday for a euro-zone growth package. American officials said they hoped that after the full-court press this weekend at Camp David, Ms. Merkel would be more amenable to the pro-growth argument when she meets with European leaders this week at a summit to come up with specific steps to fight rising debt while spurring the economy.
Ah, could President Obama's primary motivation be to save his political skin? Of course it is.
In comments to reporters afterward, Mr. Obama said that the group needed to discuss “a responsible approach to fiscal consolidation that is coupled with a strong growth agenda.”

“If a company is forced to cut back in Paris or Madrid, that might mean less business for workers in Pittsburgh or Milwaukee,” Mr. Obama said to explain why the European crisis matters to the United States. He said that while Europe’s predicament is “more complicated” since it requires coordination among multiple governments, steps his own government took to blunt the impact of the American financial crisis in 2008 and 2009, including the stimulus, can stand as an example for Europe.
It should be clear the President is hitting on two of his overriding themes here: A) increased government involvement in the economies of both European nations as well as increased influence and intervention by Leviathan in America's business sector; and B) his narcissistic belief in his own intelligence, importance, and that his policies have actually worked wonders when clearly they have not.

As I said my skepticism has grown considerably over the past eight years. As I see more movement towards increasing the size of Leviathan in our United States of America, the growing trend towards accepting the idea of a One World Economic, Social, and Government Order {ex: European Union} my skepticism continues to grow. Perhaps it's just me, however as I think about it I suspect there are others who share my concerns.

Now, The New York Times article in full.

Cross posted @ Rational Nation USA

Via: Memeorandum


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