Economic Growth Is Over!

By Semperpapa

It appears that the good old days of exceptional economic growth are over for America, at least according to…President Obama.
In a meeting at the White House on Exports and Job Creation, the President made a speech of which the following is a small, but revealing portion:

“Part of this global rebalancing is that they’re going to have to make some
decisions as well about how they are approaching their domestic markets. And,
you know, part of the bargain that we’re trying to strike within the G-20
framework is to say, “Look, we’ve got to take on our responsibilities in terms
of improving our savings rate. You, on the other hand, have to recognize that a
purely export-driven strategy of economic growth is not going to work, in that
American consumers are just not going to be in the same position, and the
American government is not going to be in the same position, that it’s been in
over the last several years.”

So let us just analyze the brief passage.
He is talking of global rebalancing, which in the case of Obama really translates in bending over to the economic rape of other countries as opposed as safeguarding our own economic welfare. I wonder if Obama’s idea of rebalancing includes the financial backing of offshore oil drilling for Brazil, while maintaining the same course of servitude of our nation to foreign oil.
While he cons the American people with his little bit of nothing regarding opening up offshore drilling off the coast of Virginia, he shut down the research for our own oil in Alaska.
And I have not heard of any plan for new nuclear power plants that not only would have a drastic impact on our energy independence, but they would create thousands of good paying jobs.
And this is only in the realm of the energy issue.

He is trying to strike a bargain with the G-20 by again apologizing for America. What he is conveniently leaving out is the fact that countless world economies have greatly benefited from American economic growth, as the imports we have been taking in over the past few decades have allowed countries to greatly improve their economic status.

Obama is right, though, in his assessment of the ability of the American people to sustain the level of purchasing power that so many foreign countries have been enjoying, thanks to the irresponsible economic policies that he himself has succeeded in bringing on the people.
For many of the world economies, exports to the US was a major source of national revenue and absolutely necessary for the maintenance of an improved employment rate.
Of course Obama and his supporters see these dynamics in other countries as negative, assessing the blame for the poor working conditions in some of those nations to American consumerism, instead of exercising the due pressure on those nations’ governments for better labor conditions. Again, when in doubt, blame America!

And again Obama is correct in telling that the American consumer will not be in the same position of buying power that it has been in the past. That is absolutely correct, as Obama is achieving something that nobody has ever had the chance to do: destroying our economy, by increasing the level of unemployment and over taxing those who do have a job.
It is not a secret, although it may come as “unexpected”, that when people are out of work, they are more inclined to reduce their spending; while economic instability has the effect, on those who do work, to become more conservative about separating with their money, as the future appears uncertain.
Moreover, when a country finds itself faced by 50% of its population paying 100% of its taxes, there is definitely a basic problem with the whole policy.

What I gather from the words of Obama is that he is sending the message that the days of financial growth and economic expansion in America are over. His numerous attempts to reduce our Nation’s economic power to the levels of some of the European countries he so loves, are finally paying over.
His goal of creating governmental dependence of a large portion of the population is taking good shape, heavily betting on the fact that many Americans are satisfied with handouts from the ruling class as opposed to self reliance.
Concurrently he is strengthening and multiplying the venues of income for those whose supports he needs to accomplish his agenda, namely the George Soros of the world and the Unions and the selected Wall Street companies who are going to benefit from his Fascist policies.

That is the agenda of President Obama. And he is not even hiding it that well any longer, because he does not have to indeed, as he already has the support of the bloodsuckers abusing their welcome in this great Nation.

Just my thoughts!