Dollars, Obama, and Euros

My brilliant post below got no comments, so back to politics and economics, here are three interesting items from today:

Although China complains about QE2, they are still lapping up our Treasuries. I think it’s funny when we ask China to manage their own currency in our interests rather than theirs, and it’s just as funny when they do it to us, except that since Bernanke’s policy happens to be insane he should for once listen to the foreigners. They are complaining because they can’t do any better, but in this case our policy really is hurting both our economy and everyone else’s (the point is the damage to our economy is deferred and politicians always try keep the party going until the next election).

Victor Davis Hanson gives the best argument I have seen yet for how Obama could be reelected. Even if he follows VDH’s advice he will be an underdog, but if he doesn’t he has no chance at all. I disagree with what VDH says about the Kosovo war, but that’s a topic for another post.

Ambrose Evans-Pritchard is always worth reading. I’d like the opinion of European readers on this column:

The horrible truth starts to dawn on Europe’s leaders

It seemed obvious to me from the start that the EU project was doomed because monetary union without political union was bound to lead to a currency crack-up eventually. How could the European leaders not see this? I think they did see this but were counting on the political centralization that would occur to become irreversible before the crack-up: the creation of the Euro was always intended to serve political rather than economic goals. But even that mistaken assumption was apparent to me at the time, and seemed obviously wrong then too. I still don’t understand how they could have made such an elementary mistake, nor how the governments of most of the EU countries let them get away with it without allowing the voters in their countries a chance to decide. In America the parties are out of touch with economic reality too, but for the main parties in the EU countries to cede so much of their own countries’ sovereignty and freedoms to foreigners is a traitorous abdication that could not happen in America.


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7 Responses to Dollars, Obama, and Euros

  1. Polymath says:

    Regarding the Hanson piece linked above on Obama’s chances for reelection:

    1) He’s not capable of abandoning his agenda. Glenn Reynolds has a great column today on the “Nigel Tufnel” presidency:

    Obama presidency turns government up to 11

    2) I agree with the piece below that he’ll most likely be running against Palin, the nomination is hers to lose. I prefer other Republicans to her, but she’s much better against him than she would be against a different Democrat. Hillary should run.

    Rumblings of Discontent — on Palin

  2. rebelliousvanilla says:

    Foreigners can do more than complain. If I was the Chinese PM, I’d tell that I’m going to dump all the treasuries on the market the next day if another QE takes place and I’d send a letter to Obama with my conditions for keeping all the debt and that includes having a surplus and beginning to pay down the debt and to stop having current account deficits. Or, if he wants me to not dump all the treasuries on the market, he can buy them back stealthly with the gold in Fort Knox. Gobbels would be proud to see how propaganda works when it’s done by Americans – the US actually convinced the world that they need it. The Chinese, and the whole world actually, would be far better off without America.

    The 2nd link is amusing. The deficit reducing measures aren’t deficit reducing to begin with. The spending cuts he proposed are just reduction in the speed of spending growth. You see, Congress assumes that they will spend 100 trillion next year and if they cut that to 50 trillion, they see it as a spending cut, despise spending ‘only’ 4 trillion this year. Obama’s only real shot is declaring war on Iran, which would appease the Jews which are mad at him, for one, and secondly, it would make the Republicans fight each other.

    Related to Europe, the whole process was done by stealth – political union under the guise of economic efficiency was the goal. You can simply read the statements of the founder of the EU – Jean Monnet.

    And you should be glad I’m not an American citizen because I’d vote Obama, if I had to choose in between him and Palin.

  3. Polymath says:

    Yes, but that’s because you agree with me that she would be better for America than he would, you saboteur. 😛

  4. Alvis Velthomer says:

    Palin’s is an inarticulate imbecile. Polls have consistently showed that she would lose by a bigger margin to Obama than other possible Republican presidential candidates (Romney, Huckabee, and Gingrich, who are all just as bad as Palin, but in different ways). Almost all of the “mama grizzlies” lost in the 2010 elections, despite there being a lot of anger against the Dems.

    What all this Palin worship tells me is how desperate the American Right is for a leader, and they will accept a quasi-white trash person (her daughter had a child out of wedlock and went on to do “Dancing With The Stars”). Her popularity among the “conservative movement” just goes to show the infantilization and daftness of the American Right. She is basically the Republican version of Obama, only she is less competent at reading a teleprompter.

    Right now, I don’t see anyone among Republicans who can fight back against the cultural depravity and the forces destroying our identity. Paleoconservatism is less active in the Republican party than libertarianism is. Republicans still care more about corporate favoritism and bombing Iran than actually shrinking the federal government and curtailing illegal immigration (let along doing anything about LEGAL immigration). Republicans operate like most modern American corporations, they don’t think about how they will survive in the long-term but rather look to see how they will look going into the next fiscal year (or into elections for the Republicans). Democrats and leftists look at the long-term for setting their goals and building power (political and cultural).

    Me and Rebelliousvanilla actually had a conversation about even if Obama granted amnesty and was voted out in 2012, he would be able to be re-elected in 2016 due to the millions of new voters. Same thing with the the healthcare bill, although it cost the Democrats a lot of seats, it is likely to never be repealed. Democrats are not afraid to sacrifice short-term prosperity for long-term gains, while Republicans will make short-term gains but ignore long-term electoral demographics. I think the Republican would rather abandon social conservatism instead of tackling those issues (see the Conservative Party in Britain).

  5. Polymath says:

    Alvis, Palin is better than some of the Republicans, worse than others, but she is smarter than you give her credit for (read her book) and her candidates in 2010 did pretty well when you look at ALL the data (the ones where her candidate lost got a great deal more media attention of course). Obama is toast, the Democrats must nominate Hillary if they want a chance to win this time, unless the Republicans screw up in a major way (nominating Palin wouldn’t be enough of a screwup to lose, Gingrich would lose though and Huckabee might).

    If Obama grants amnesty he will be voted out in 2012 with the amnesty issue being used against him, the Republican will campaign on it, so there will be a chance for immediate repeal. With Republican gerrymanders taking effect and the Democrats having to defend 23 out of 33 Senate seats in 2012, the Republicans are big favorites to get large majorities in both houses.

  6. rebelliousvanilla says:

    Alvis, actually, the GOP can hinder amnesty even if it passes because it takes a long time to document everyone. But that would mean that the GOP would try to do that, which it won’t. The problem aren’t even the Republicans, but the American people. Still, the good part of this is that white Americans will feel more alienated from the whole system and begin to care less about the rule of law aspect of governance due to seeing the government as illegitimate. This is bound to happen. And if it happens, we have a huge upside – we are the ones stockpiling all the guns, the army is mostly on the right side of the political spectrum and so on. So, really, the only thing preventing us from doing anything is people caring about the rule of law and civil society. This is why a political process disruption would favor us.

    So to me the whole problem is the political system and process. Liberals in this sense are the equivalent of a woman who has a rapist holding her down and spreading her thighs telling him that what he’s doing is illegal because the law X says so. He simply won’t care. In the same way, we shouldn’t care about an illegitimate government. The only thing that liberals would be able to do at that point is say that what the right wingers do is illegal. I’d also like to point out that in times of political disruption, people are more radical due to their ability to actually change things. A lot of people that I talked to would support a larger part of what I say, but they see it as politically unattainable.

    By the way, I think you are unfair to Palin. I mean, she is an idiot that has no idea what she’s talking about. But, unlike others, she doesn’t do it out of spite. She actually thinks that she is right and hence her sense of silly righteousness, despite being wrong on a lot of things. On the other hand, liberals like Pelosi or Reid are manipulative snakes. The difference is that most of the other politicians are lawyers and lawyers support an argument regardless of the principles behind it. Just like they defend a guilty person, they support a position because it is popular. Palin is a real person in this sense.

    I’m pessimistic about America though because you really have no sense of identity to begin with besides propositional platitudes and your young people are completely moronic, even compared to Sweden, where the SD is popular among the youth, which is even more surprising considering that quite a large share of the youth are non-Swedes compared to the older people. The SD is fairly reactionary on family structure too and it is surprising to see them be popular among young people.

    Even the politicians in Europe are beginning to be in better shape. I’m waiting for an American president to declare racial integration an abysmal failure in the way in which Merkel declared multiculturalism. To Americans Europe seems more deranged because for one, they are unable to see the shortcomings of their model and to any propositional identity person, multiculturalism is dangerous because it threatens their self because it is an attack on the common identity thing, while for an European, it’s not much of a problem because we either don’t see Turks born in Germany to be German to begin with and other reasons connected to this. From my perspective, multiculturalism is a great thing – it exposes the people we have to get rid of. Basically, Europe right now is where America was in 1865.

    I’m waiting for an American elected official to say this to the ambassador of Mexico. I don’t see it happening.

  7. Alvis Velthomer says:

    To Polymath: I am pretty sure that if Palin did write a book, it was probably ghost written (even some of Obama’s books were ghostwritten).

    To Rebelliousvanilla:
    I doubt we will ever see an American politician do a take down of a pro-invasion foreigner. Heck, the American Congress even applauded the Mexican president insulting the Arizona law.

    You are right there is much less of an American identity than in Europe, which definitely inhibits whites in America from mobilizing in their own interests. However, there does exist some identities such as “Southern identity” and “Texas pride” which coincidentally or not, are the factions among whites that vote more like a minority bloc.

    Elsewhere, white Americans use vague terms to describe what being an American is. Stuff like: “liberty”, “freedom”, “Number 1”, and other terms that could probably apply to most of the West.

    I am curious though when the effects of demographic overrun will finally hit California. If California does go bankrupt, it will probably show me what I can expect when the entire nation follows its path.

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