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Obama – Economic Illiterate
President Obama told a crowd of donors in Seattle Thursday that the eurozone is “in a difficult state, partly because they didn’t take some of the decisive steps that we took early on in this recession.”
Obama did not specify the steps America took that prevented it from undergoing the monetary-political crisis affecting the eurozone, which most economists ascribe to the mismatch between a currency that spans 17 countries and fiscal policies that do not.
However, a White House official later clarified the president’s remarks. “A senior administration official said some examples included the United States’ early stress tests on banks, requirements that banks bolster their capital cushions and an aggressive early response by the Federal Reserve, the U.S. central bank,” Reuters reported.
Yet none of those policies—which are associated with combating financial risk and illiquid financial systems—relate to the underlying monetary and fiscal dilemma facing Europe.
Steve
May 11th, 2012
Of course he’s an economic illiterate. He’s either been in a university or political job his entire adult life.
How can he understand how wealth is generated?
How can he understand the relationship between wealth and money?
He thinks wealth and money are the same. He thinks that money comes from the government. Therefore, wealth also comes from the government.
Which, as the rest of us know, is exactly backwards.
RANDO
May 11th, 2012
I think the technical term for his statement is: “Load Of Crap.”
TooMuchTime
May 11th, 2012
…like making sure that our bond rating got cut and is under threat to be cut again.
Barry suffers from an ID10T malfunction.
Toaster
May 11th, 2012
E M P T Y S U I T
E M P T Y H E A D
David G
May 11th, 2012
Wow – would it be possible for him to go to Europe and be their president for a while? It sounds like they really need him – now.
grayscape
May 11th, 2012
It’s not his fault that his script writers are economically retarded and historically ignorant.
He was hired for his ability to read a script and perform on stage for his masters.
Anonymous
May 11th, 2012
but he knows how to stimulate the national debt
Anonymous
May 11th, 2012
or perhaps he can have Joe Biden explain it to him
Hotlanta Mike
May 11th, 2012
New French president Francois Hollande, who claims to ‘dislike the rich’, has THREE homes on French Riviera
http://www.dailymail.co.uk/news/article-2142847/Francois-Hollande-French-president-claims-dislike-rich-3-French-Riviera-homes.html
Hotlanta Mike
May 11th, 2012
President Obama’s Luxurious Schedule
http://www.americanthinker.com/2012/05/president_obamas_luxurious_schedule.html