When President Obama was elected, I was excited. I believed the "Time for a Change" rhetoric, delivered in a manner that I had become unaccustomed to during the verbally vapid years of the Bush administration in which it seemed like we were being lead by a drunken frat boy. I thought Obama meant what he said, but over time, witnessing various appointments (Geithner, Sommers, Bernanke) and policies, the seduction has worn off. As a child I often heard, "actions speak louder than words" when my behavior didn't match my promises. Obama seems to have been lost on that lesson. He speaks beautifully. He says the right things. But all the while his administration's policies are heading South while his words head North.
Please read the following article by Peter Shiff, CEO and Chief Global Strategist for EuroPacific Capital, found at the 321Gold website. This article takes aim at Obama's rhetoric around the G20 summit in which he asks Americans to save more, and spend less, and asks the Chinese to do the opposite, all well intentioned words aimed at sever imbalances in budget deficits and import/export ratios that threaten to suck the life blood from both economies.
The questions posed and addressed:
Does Obama mean what he says?
Do his policies back his words?
If not, where are his policies taking us?
This is a first foray here into an issue that promises to have far reaching consequences for the direction of our country.
http://www.321gold.com/editorials/schiff/schiff092509.html
Fubsy
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