GLOBAL: “the One” Called Arrogant by Germans over his Print-a-Trillion Euros “solution”
The sight of “the One” lecturing the Congressional Black Caucus in his normal, patronizing and condescending tone was not only historic, it signified that it’s not just the Jews that “the One” is having trouble with — it’s the bedrock of his political base that is off-the-Obama-reservation.
Now, Obama is losing the Europeans too — who recently went wide-screen with the universally believed charge of Obama-the-arrogant.
Europe’s ire was provoked by the U.S. Treasury Secretary, who called the finance ministers from Europe to Poland and lectured them about Greek debt — and the Obama solution — which is to print a trillion in new Euros, and use that to “stabilize” Greek and French banks.
If you don’t think this is Obama’s solution, then the Europeans beg to differ, especially after Obama himself slammed the Europeans for not implementing his plan when he spoke in Denver yesterday.
The Germans and other European were not amused.
Seems the print-money-to-pay-your-debts-solution is, according German finance minister Wolfgang Schauble, “stupid.”
The mass circulation Bild wrote: “Obama’s lecture on the euro crisis … is overbearing, arrogant and absurd. … In a nutshell, he is claiming that Europe is to blame for the current financial crisis, which is ‘scaring the world.’ Excuse me?”
Back across the pond, here in America, MarketWatch columnist Jon Markman called the U.S. plan QE3 — the accepted financial lingo for printing money.
The magic-money crowd (just electronically create it — in the old days, known as printing it — refuses to cut government spending but loves creating money to pay for their habit.
All the trillion dollar president can do is spend more, tax more and borrow more.
The U.S., Obama and his Treasury Secretary have zero credibility on the debt question, and this credibility gap is not only on debt, but as far as the American public goes, on the American economy as well.
Look for a continuing spiraling in the polls, as not only the Black Caucus, the Jews and the Europeans begin to react badly from lectures from “the One” — who talks, talks, talks, and when he does — he makes things worse, both politically for himself and his allies, but also produces zero positive economic results.
So, how’s that “green economy” working for you?