Good morning Blogmocracy Netizens! As always, I come bearing bad news this morning, I really wish it was otherwise.
The US Economy under the Progressive Regime in Washington is pursuing a policy of control. They are empowering their favorite corporations like Goldman Sachs and GE, at the expense of the Free Market. The Obama Junta and its Congressional partners in crime are increasing our debt, hence weakening our currency and burdening our economy. This is having the double effect of making our economy uncompetitive and lowering our future living standards.
GENEVA (Reuters) – Switzerland knocked the United States off the position as the world’s most competitive economy as the crash of the U.S. banking system left it more exposed to some long-standing weaknesses, a report said on Tuesday.
The World Economic Forum’s global competitiveness report 2009/2010 showed economies with a large focus on financial services such as the U.S., Britain or Iceland were the losers of the crisis.
The U.S. as the world’s largest economy lost last year’s strong lead, slipping to number two for the first time since the introduction of the index in its current form in 2004.
Read the rest.
This report is damning and in an age of Global Economics, losing the competitive edge turns off investors. We need to make our economy freer not more regulated. By having massive government intervention, it discourages investors from putting their capital in the US.
The bigger the government, the more money it uses. The Obama regime is expanding the role of the government and by running a massive 1.8 Trillion dollar deficit it is sucking up capital out of the markets. This borrowed money is coming from places like China. The Chinese are now concerned about our spending, because as the dollar loses value, their investments lose value as well. As investors, they are concerned over our spending.
Cheng Siwei, former vice-chairman of the Standing Committee and now head of China’s green energy drive, said Beijing was dismayed by the Fed’s recourse to “credit easing”.
“We hope there will be a change in monetary policy as soon as they have positive growth again,” he said at the Ambrosetti Workshop, a policy gathering on Lake Como.
“If they keep printing money to buy bonds it will lead to inflation, and after a year or two the dollar will fall hard. Most of our foreign reserves are in US bonds and this is very difficult to change, so we will diversify incremental reserves into euros, yen, and other currencies,” he said.
Read the rest.
The United States of America should never be in a position where we are dependent on a rival like China. The Chinese have their own interests and many of which are not in America’s interest. This gives them a veto over our policies and that is not a good thing. That is why balancing the budget, making our economy more competitive and paying off our debt are crucial. We are now beholden to foreigners and this is not good for our future freedom.
Like vultures circling a wounded animal, the Transnational Progressives at the United Nations are now calling for a new global currency. The Progressives always wanted America to give up more of its sovereignty to global institutions. That way the elites can rule over the rest of us. Thanks to our irresponsible policies, the global Left is now pushing this idea of an alternative to the dollar!
In a radical report, the UN Conference on Trade and Development (UNCTAD) has said the system of currencies and capital rules which binds the world economy is not working properly, and was largely responsible for the financial and economic crises.
It added that the present system, under which the dollar acts as the world’s reserve currency , should be subject to a wholesale reconsideration.
Although a number of countries, including China and Russia, have suggested replacing the dollar as the world’s reserve currency, the UNCTAD report is the first time a major multinational institution has posited such a suggestion.
Read the rest.
The United Nations is a cesspool of Transnational Totalitarian Progressives and Islamo-Fascists. They are looking at a weakened America and feel now they can assert their power. It helps that the current Radical Progressive Regime of President Barack Hussein Obama shares much of this agenda. Therefore, they don’t care about America’s economic decline and the weakening of our currency. The Radical Left just wants power over peoples’ lives, therefore they could care less about the American people. This movement must be defeated if we want our Nation to be strong, competitive and free.
Tags: US Dollar
