Why did the president contradict himself on free trade? Is he intentionally destroying the economy?
Asked by: forexsheet 79 views
http://www.cbsnews.com/stories/2010/11/11/world/main7044047.shtml
In a letter to the Group of 20 rich and major developing nations, Obama warned that the U.S. cannot remain a profligate consumer using borrowed money, and needs other countries to pull their weight to fix the world economy.
"The most important thing that the United State can do for the world economy is to grow, because we continue to be the world’s largest market and a huge engine for all other countries to grow," Obama said at a news conference.
http://news.yahoo.com/s/ap/20101111/ap_on_bi_ge/as_economic_summits
Specter of trade war looms as G-20 nations gather
Thu Nov 11, 6:10 pm ET
…the G-20 countries are …finding no common ground on the most vexing problem: how to address a global economy that’s long been nourished by huge U.S. trade deficits with China, Germany and Japan.
Exports to the United States powered those countries’ economies for years. But they’ve also produced enormous trade gaps for the U.S. because Americans consume far more in foreign goods and services than they sell abroad.
President Barack Obama told fellow leaders that the U.S. cannot just keep borrowing lavishly and sending its money overseas. It needs other countries to buy more exports from the United States and elsewhere so Americans can afford to buy other countries’ goods, he said.
http://news.yahoo.com/s/ap/20101113/ap_on_bi_ge/as_apec
After G-20 rancor, Pac Rim leaders push free trade
"Leaders of the world’s three biggest economies — the U.S., China and Japan — all pledged Saturday to push for free trade, apparently putting aside acrimony over currencies that threatens to revive pressure to raise trade barriers."
In the first two items, President Obama seems to recognize that it is not sustainable for the USA to continue forever being the teat the the foreign exporters suckle for their prosperity.
But then in the third item, the president contradicts himself by pledging to continue free trade, which is causing this problem in the first place.
Why can’t the president see how he’s contradicting himself? Or is he intentionally dooming our economy to destruction, and he’s using free trade as a wrecking ball?
Has the president telegraphed weakness by backing down from a trade war when the foreign exporters faced him down?
MatterOfFact, so what you’re saying is we have to let the rest of the world bully us into taking our jobs and reducing us to third world nation status, by the threat of nuclear war?
Are you Neville Chamberlain? APPEASMENT DOES NOT WORK.
lowes48, ya I had that pretty much figured out after his first six months. I’m just checking to see if anything has really changed since then.