Obama: More European than the Euros and Maybe Even Brad Miller...

polifrog



First Germany turns their backs on Obama, now the Brits do as well.

Obama wedded to an ideology contined his Keynesian push,

Obama urged the world's leading economies Friday to avoid scaling back government spending too quickly or risk derailing the global recovery.

...

The warning - a clear shot at European governments reining in budget deficits - comes after months of worry about the health of the eurozone, fuelled by huge public debts in Greece and Spain.

Angela Merkel's wisely ignored Obama.

Referring to the G20 summit in Canada next weekend, Merkel said in a videotaped message that "we are going to discuss when to quit the phase of short-term measures and go on to lasting budget consolidation."

Such a move was "urgently necessary, in the view of the Europeans and particularly of Germany," she said.

Now the Brits have ignored Obama,

Mr. Osborne's budget is the latest to depart from the short-lived Keynesian consensus that government can spend its way back to prosperity.

...

George Osborne presented the U.K. government's emergency budget yesterday, with spending cuts and consumption-tax hikes intended to shrink public borrowing to 1.1% of GDP by 2016, down from 10.1% of GDP this year. Nearly 80% of that retrenchment comes as spending cuts rather than tax increases. The Chancellor of the Exchequer's cuts are, on balance, good news for the British economy.

It would be refreshing if we in the US could follow suit and ignore Obama, but Polifrog would settle for a bout of fiscal common sense to roll across American governance.

Keynesian economics theory, crack for government spenders like Brad Miller (NC-13).



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A "Win" for Brad Miller -- HR 5297 -- Merkel knows otherwise...

polifrog




Contrast the anti Keynesian title below to Brad Miller's "win" with HR 5297 (more stimulus),

Europe to urge exit from stimulus schemes at G20

You don't have to, thanks to Merkel.

Europe will push for a swift exit from fiscal stimulus programs and a focus on budget consolidation at the G20 meeting next week, German Chancellor Angela Merkel said on Saturday.

Brad Miller, stuck on Keynesian stupid.



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More of that Socialist Cow Bell:

polifrog


Interesting quotes making the rounds this weekend.

Christopher Booker:

We have still scarcely begun to wake up to the gravity of the crisis now upon us, not just for the eurozone but also for us here in Britain and for the entire global economy.

Angela Merkel:

the current crisis facing the euro is the biggest test Europe has faced for decades, even since the Treaty of Rome was signed in 1957

and

If the euro fails, Europe fails.

Richard Russell (Dow Theorist):

Sell everything, you won't recognize America by the end of the year.

Of course there is this piece of fun posted earlier:



Obama:

The international order we seek is one that can resolve the challenges of our times,

Obama apparently sees Europe and thinks we need more of that socialist Cow Bell right herein America. If we aren't headed for a second leg down in the image of the Great Depression, we are at best driving head long into an extended ObamaDebt fueled morass.

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