Hamlet feigned lunacy to save Denmark from power-hungry monarchs. Washington Democrats and world leaders need not pretend; they are lunatics who believe securing world collateral with international regulations will grow every nation’s monetary fund. If signed onto, the proposed trade and industry policies would throw the U.S. into an E.U. global economy: a socialist America adhering to world policies.
The November 15, 2008 Global Summit was geared to grow national economies, specifically third world nations America is always expected to salvage or risk being called stingy. Further discussions included international regulation for world financial systems, reducing America’s position as financial and economic world leader. In other words, collectively spreading America’s underserved wealth.
If this sounds like America is progressing toward EU-style economic constitutional adherence by-way-of Washington, it is. Democrats want the U.S. economy globalized and monetarily equal under the proposed worldwide draft resolution.
German Prime Minister Angela Merkel told reporters: “It is the first time that emerging and developed countries are meeting together in this way and are really in with both feet. In this respect it is a new beginning in a very, very difficult situation. It gives hope that policies can operate jointly. The world financial summit will adopt an action plan here today and thus demonstrate the international community’s ability to act.”
Its plan is old. Karl Marx wanted a global world of financial equality. The world refused Marx’s plan, the Soviet Union did not. Lenin implemented collectivization, Stalin enforced it, and the Soviets became destitute until their complete collapse in August 1998. Europe implemented Marxism after World War II, experiencing further economic down-turns in the 1950s and a new generation whose career aspirations are protesting America and vacationing for life.
British Prime Minister Gordon Brown, hoping to repair his moth-holed image and Labor Party’s declining popularity, announced the summit made progress and world leaders would soon “agree on quick action results” concerning economic and fiscal policies for tax-cutting and spending.
President Nicolas Sarkozy’s called for worldwide tax-cuts. That plan is nothing more than a global welfare package for third world nations. The U.S. would no doubt be expected to pay the subsidiary punishment bulk.
The U.S. has begun government ownership by bailing out the private banking industry. Washington has no right telling Americans how much money they can earn, spend, and trade; too much government does not create economic wealth; government must get out of the way for the U.S. to recover. Deregulation caused the economic failure. Liberals under Carter, Clinton, Reps. Barney Frank, and Chris Dodd are the root cause: they demanded private banks lend money to low-income Americans unable to pay mortgages. Now Democrats are proposing new solutions by way of government and global intervention.
The next socialistic escape via Washington and President-elect Barry Obama is the pushing for auto industry bail-outs. Bailing out the auto industry is rewarding failure. The auto industry, which spends $1 billion per week, does not need rescuing to prevent bankruptcy. If one can spend $1 billion a month while turning out substandard cars no longer worth their value, one does not need financial guaranteed security; tossing out unions costing automakers billions, strangling the production that can not compete with Japanese cars, thus costing taxpayers billions in punishment for Detroit’s failure, is what should be flung and hung out to dry.
Obama is pleased with the global summit. Obama, who was absent for the summit, spoke in his first radio address, stating that “our global economic crisis requires a coordinated global response.” Obama should be happy with the Marxist approach: America is required to hand over free market capitalism to hard-hitting, blatant accounting rules, making America liable, not just to investors, but controlling regulators, who will govern world finances.
I hear a Saul Alinsky approach attempting to dominate American’s life, liberty, and pursuits of happiness and Americans won’t hear the collective police train barreling down the tracks until it strikes private bank accounts and businesses.
The summit, which intends to place accounting rules on international company’s assets, will set statutes on Americans if Washington gains complete control over U.S. banks and Detroit. Washington is trying to take command of Detroit-produced cars in the form of bailout: that means junking big Cadillac’s and Chevys for European-style carnival bumper cars considered acceptable to Al Gore.
Summit leaders want regulations to control overuse of mortgage-backed securities. No leader, not even Obama, admitted the economic fall-out was caused by deregulating Democrats demanding subprime mortgage houses lend cheap money. The International Monetary Fund — the world’s oversight committee for banks — claims it will watch for early warning signals with a “college of supervisors” spotting defects.
Early warnings began ten years ago. Defects were spotted and ignored. Conservative Republicans warned Washington that Fannie Mae and Freddie Mac would crash the U.S. economy if lending did not stop. In 2003, Congresswoman Maxine Waters told the House Republicans were wrong; Fannie and Freddie would not collapse the economy. In July of 2008, Congressman Barney Frank insisted Fannie and Freddie were stable.
Stalin insisted the Soviet economy was stable, Nikita Khrushchev declared Soviet finances were growing, Boris Yeltsin claimed Russian markets were secure, all three were collectively owned and regulated by a government that collapsed into bankruptcy.
Conforming to the world’s monetary policies is dangerous. The U.S. must remain a private ownership society. Capitalism must be encouraged, not dividing income and investments, handing half to the Obama government for wealth spreading into the pockets of those who now own homes bought and paid for by the American taxpayer.
It’s time to bail on liberal policies and rid the House and Senate of Democrat rule in 2010.