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Left, Right agree: Obama’s G-20 performance worst ever

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posted on Nov, 15 2010 @ 12:06 PM
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Nice to see both sides agreeing for once. Then again, how could they not agree on this particular subject. Glad Obama made his Indian trip before the G-20 summit. I think he would have fallen flat had he taken the rock star tour after the Summit.

The Wall Street Journal's perspective


Has there ever been a major economic summit where a U.S. President and his Treasury Secretary were as thoroughly rebuffed as they were at this week’s G-20 meeting in Seoul? We can’t think of one. President Obama failed to achieve any of his main goals while getting pounded by other world leaders for failing U.S. policies and lagging growth.

The root of this embarrassment is political and intellectual: Rather than leading the world from a position of strength, Mr. Obama and Treasury Secretary Timothy Geithner came to Seoul blaming the rest of the world for U.S. economic weakness. America’s problem, in their view, is the export and exchange rate policies of the Germans, Chinese or Brazilians. And the U.S. solution is to have the Fed print enough money to devalue the dollar so America can grow by stealing demand from the rest of the world. …

The world also rejected Mr. Geithner’s high-profile call for a 4% limit on a nation’s trade surplus or deficit, which would amount to new political controls on trade and capital flows. This contradicts at least three decades of U.S. policy advice against national barriers to the flow of money and goods. We don’t like to see U.S. Treasury Secretaries so completely shot down by the rest of the world, except when they are so clearly misguided.



San Francisco Chronicle actually used the term Shellacked!!


Shellacked at home, shellacked abroad. President Obama’s Asia trip is extending a losing streak with the latest setback – a refusal by other major financial powers to follow his lead to revive the global economy.

The president’s nostrums, which began with a call for stimulus-style pump priming by other nations, had evolved into a plan to ease wild swings in currency values and overboard trade imbalances. But he got next to nothing in showdown meetings with other leaders of the G-20 nations, or major economic powers. U.S. leadership, once taken for granted, has all but vanished, and no one’s in charge.



Of course, as the Chronicle notes later in the article, Obama could hardly be said to be providing a lead to follow. He arrived at the G-20, fresh from his rebuff from Seoul over a trade agreement that George Bush had wrapped in a tidy bow three years ago and Democrats rejected, insisting that the industrialized nations refrain from currency manipulations — while defending the second round of quantitative easing that the Fed introduced to do just that. Obama learned the hard way that few people will follow a “Do as I say, not as I do” model of leadership, and may end up touching off a currency war as a result.

In 2008, we warned about the dangers of putting a man in the White House with no executive, military, diplomatic, or private-sector experience. It should shock no one to find that American leadership has utterly vanished on the international stage when we elect someone incapable of providing that leadership. The lesson from both the Right and Left coasts’ media is that Barack Obama is in way over his head and doesn’t have a clue how to get back to the surface.

hotair.com...

If only this job of being POTUS were as easy as being a Community Organizer!! Is it to late for Obama to pack up and head back to Chicago? Rahm could give him a job when he becomes Mayor of Chicagoland.
edit on 15-11-2010 by jibeho because: (no reason given)



posted on Nov, 15 2010 @ 01:38 PM
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There was a guy on Meet the Press yesterday morning that actually gave praise to Obama saying that he showed leadership by NOT taking deals that would put America at economical risk.


I was in the kitchen at the time and didn't catch who said it. I think that was the funniest thing I heard all day yesterday.

A lot of nothing has happened in the past two years. Maybe Congress can get something done since they know the sentiment of the American public now.

I'm not going to hold my breath though.



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