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  • Morning Bell: The G20 Threat to Economic Recovery

    The official G-20 talks that President Barack Obama is in London for today do not begin until tomorrow. But outlines of the deal President Obama and other world leaders will agree to have been noticeable for weeks … and it is not good news for the American people.

    From the beginning, the Obama Administration and European Union leaders have been clear about what they wanted from Thursday’s meeting. Obama wants European nations to engage in more deficit spending (even though they have to pay significantly higher interest rates) to help jump start the global economy. EU leaders want firm commitments from the Obama Administration to agree to global financial regulation. Slowly but surely the two sides have come together.

    For example, on March 14 German Chancellor Angela Merkel said she would not enact any further economic stimulus until the first round had time to take effect. But just twelve days later Merkel injected 82 billion euros ($110 billion) into the German economy, the largest bout of European stimulus spending to date.

    Returning the favor, U.S. Treasury Secretary Timothy Geithner signaled the Obama Administration was more than willing to submit to global financial regulations telling reporters: “Our hope is that we can work with Europe on a global framework, a global infrastructure which has appropriate global oversight.” This is just about the worst agreement that the summit could possibly have produced. It’s the worst of both worlds: more so-called stimulus spending for everyone, a globalization of Europe’s slow-growth economic model, and a subversion of U.S. sovereignty by a new global super-regulator. Heritage analyst Theodore Bromund explains:

    Europe’s call for a global regulator with a mandate to ensure the stability and balance of the world economy would be a tremendous step toward forcing its slow growth model on the rest of the world. … These policies are a return to the concept of one size fits all and to the belief that politicians and unelected bureaucrats on the global level can effectively manage the world’s economy. Europeans should ask why, if this model works so well, it failed to stop the build-up of systemic risk in Europe.

    Instead of more deficit spending and increased bureaucratic control G-20 nations should be working to fight rising protectionism worldwide and addressing the common entitlement crises that they all share.

    Quick Hits:

    • Ranking House Budget Committee member Paul Ryan (R-WI) released numbers today showing his alternative budget achieves lower deficits than the Obama Administration’s plan in every year, and by 2019 yields half the deficit proposed by the president.
    • After Justice Department lawyers concluded that the left’s D.C. House vote bill was unconstitutional, Attorney General Eric Holder overruled their determination and ordered up a second opinion.
    • Health and Human Services Secretary appointee Gov. Kathleen Sebelius (D-KS) became the fifth Obama Administration cabinet appointee to admit to failing to pay taxes.
    • The Obama Administration announced they will play a key role in naming members to General Motors Board of Directors.
    • A Milwaukee Journal-Sentinel analysis found that the vast majority of Wisconsin bridges slated for economic stimulus funding carry fewer than 1,000 vehicles a day, including one bridge awarded $426,000 that gets fewer than 10 cars a day.
    Posted in First Principles [slideshow_deploy]

    27 Responses to Morning Bell: The G20 Threat to Economic Recovery

    1. jake LHC says:

      finally somebody is seeing through obamas foney inconsiderate incompetent methods of Lewisky

    2. Alison in Appomattox says:

      Tough as it is to fight, we must! The biggest, most bitter bite is yet to come. In order for the prophesies of Daniel, Revalations, Ezekiel, Isaiah, Jeremiah, and the other prophets in the Bible to come about, we, The United States of America, must lose our sovereignty to the enemy. Let us never forget though that it has to be easy for the enemy! We must continue to make this an uphill battle for the enemy EVERY step of the way! Keep your eyes on the prize! We are here for such a time as this!!!

    3. on, Derry NH says:

      Fundamental to human respectability is the respect of the individual and the method that achieves that is allowing people, civilizations and countries to set their own agenda and goals.

      Asking permission to enter there space and allowing them power over their own identity creates a need to Honor them and respect their wishes. It's not easy but it builds a stronger human when each respects each others idiosyncrasies, and designs a field of play that encourages diversity instead of trying to neutralize it. Friction is good. The dance of life is not about knowing each others steps but learning each others ways and respecting them. It is the same in economics.

      This world without borders and regulators from an outside power source creates disrespect, alienation and corruption influences to be the title of the game at hand. Why are these alleged intelligent people seeking to regulate the world with a political committee designed around outside controlling.

      There is no neutrality in any negotiation and the avenues of respectability should be maintained so that power is established from the players and the risks allowed to exist to all. This belief that an outside regulatory committee can judge with impartiality economic desires erases the players ability to negotiate in real time and real conscience.

      Who ever thinks that an outside source can regulate, believes he has an in to those regulators and wants to simplify the path of extortion for self gain to be an easier path.

      I hope that the Europeans recognize the attempt to rule the world by a single committee design around a fascist ideal to control options and decisions beyond the borders of the players involved. But then again, they may think they have an in, and agree to it for monetary/power gains.

    4. Richard Cancemi, Arl says:

      The people of the USA (and the world) sit around speculating and wondering what Governments are going to do next. Why?

      Where did Obama get the idea that this is HIS country to do with as he wishes? He has his personal agenda to submerge the USA in a global socialism and we watch him do it!.

      We must not allow him, with his machinations, to destroy the finest form of Government that has ever existed in the history of the world.

      I believe this man has a conscious or subconscious disdain for the USA and is driven to act this out via imposing at every turn programs destructive to, and for, us all!

      He SWORE to defend, protect, and uphold the Constitution which he is now stepping all over.

      In my opinion, he is worthy of impeachment!

      I see his efforts to "save the economy" as smokescreens. He is out to "kill" Capitalism and personal freedoms. He is not a President FOR America. He works AGAINST America.

      "We the people" are America and will suffer the consequences of his doings.

    5. Mike in Conyers, GA says:

      My biggest fear is not death nor is it taxes(if you can believe that) it is that this country that I fought, and almost died for on more than one occasion, will end up being another European colony with no control of our own government just like we started out. The common phrase is that everything comes back around, be it fashion etc… or history repeats itself, but the other common phrase is learn from your mistakes and obviously the people who I did not vote for obviously have never taken a history or economics class. I'm with Richard, Impeach!!!!!

    6. Kevin C. taxachusett says:

      It is with a tear in my eye that I watch this country spin out of control and go straight down the toilet.We are the greatist country becouse of our free market economy.Now this will all come to an end if NObama has his way.Texas is the last state that can legaly succede from the union and I have already truly given it a thought.It will be one of the last places in north america where you will be able to live free in the UST United State of texas. god bless america.

    7. Frank W., New Mexico says:

      What can we do? I've written my senators, congressman and anybody else I can think of. They just write back, agree with me, and vote however they damn well please. I guess a bunch of my buddies and friends died for nothing. they only ting I know for sure is they are not taking my gun away from me, I have a feeling I'm going to need it pretty quick.

    8. Dwana Townsend says:

      If all of what is happening doesn't get you motivated to get out and get active (writing your congressmen, senators, govenors) and start protesting I don't know what will. We can no longer just sit back and watch what is going on. We need to take this country back before 2010 or 2012. The only way to do it, is for each of us to play an active roll. Get involved in one way or another. Pass on e-mails to all of your friends (its the fastest form of communication).

      I am frightened by what I see the demonstrators doing in Europe right now and hope that we don't get to be so desperate as to revolt in a violent manner, however I can see it coming and I don't think it's going to be a pretty sight.

      I believe the goal of the government is to throw everything at us at once (now that the Democrats days are limited in congress, they must act swiftly to get most of their agenda passed) only to confuse the American public. I also believe alot of this is a smoke screen for the many deals being made on the side (behind closed doors and under the table). They draw our attention to the Stimulus or Crisis, to the automakers, to the Banks, to Wallstreet, to Mainstreet. All of these are Big Headliners designed to divert our attention away from the real agenda, and god only knows what that is but we are headed there at an alarming pace, unless we unite and protect our constitution, and many freedoms and rights. If we don't they will be stripped from us one by one. THE TRUE AGENDA is to give government so much power that we will no longer have the freedom of speech, right to bare arms, and government will be able to intrude and control everything we do. God Help Us!!

    9. Ardell, Rexburg Idah says:

      I hope the other countries give Obama the message we are traveling down the wrong path. They need to sit back and see if our own plan works. So far we have broken contracts with other countries are going to break another one.

      We entered into a contract with other countries to back our currency with gold, we broke that one. Then we went to will buy your products and quit using the gold standard.

      We need to get back on track and show countries that are self sustaning country.

      All the plans in place as of now have been thought up by people who have no business experience what so ever.

      We need to contact every elected official no more their jobs are on the line. I don't care if your on the right or left we need to clean house and start putting in new people that are going to listen to us and not follow like sheep to the cliff.

    10. Ken Jarvis - Las Vegas says:

      “Health and Human Services Secretary appointee Gov. Kathleen Sebelius (D-KS) became the fifth Obama Administration cabinet appointee to admit to failing to pay taxes.”

      Where ALL Taxes are paid
      when a purchase is made.

    11. Claudia, Wyoming says:

      Dishonesty seems to be the pre-requisite to be in Obama's cabinet and as we learn more about Obama, I'm sure we won't be surprised about his level of dishonesty. Isn't it just great to raise children who thought hard work and honesty was the way to be a good parent, good citizen and wage earner and then learn that being dishonest, disrespecting our U.S. constitution, ignoring others rights, making money for everyone else and less for your family is what this President wants you to do???? What a fine example this man and his cabinet is of everything that is WRONG.

    12. Tom Mulshine, UT says:

      If Obama agrees to “Global World Regulation”, resulting in outside controll of US Finanses, we need to have an election recall of Obama or impeach him. The US tax payers can not afford to wait until 2012.

    13. Ozzy6900, CT says:

      All of these Countries have experimented with “overseeing” and Nationalization of things in one form or another. These efforts failed and they even admit to these failures. Now they want to apply the same trash on a Global Scale?

    14. Jonathan - Williamsburg VA says:

      Here’s a clue to our elected representatives: Things cost too much! Insurance. Automobiles. Food. Fuel. TAXES TO UNCLE SAM! TAXES TO THE COMMONWEALTH. PROPERTY TAXES. EXCISE TAXES.
      Taxes are figured in here, figured in there that a citizen never sees because it is passed along to us. Too much is too much!

    15. Tom in Grand Rapids, MI says:

      When you view Obama as a Socialist, who wants nothing more than to throw our Republic down the drain… His actions make sense. He needs the economic situation to get so bad that the people will look to the government for survival. Everything he is doing is driving us to this point… his plan is working.

      Tom in Utah is right. We do not have until 2012. This will be done in the next 18 months unless steps are taken to “curb” him. I don’t see anybody able to do that. It needs to be a “grass roots” effort led by Patriotic Americans. (Who will be labeled “radicals”, just as our founding fathers were.)

      While we need to fight for our liberty we need to remember our home is not hear on earth. We are just Pilgrims on this earth doing the Master’s will.

    16. mike, hickory, nc says:

      I am one of the so-called "baby-boomer generation", and, primarily because I am one of those who actually dare to live in the real world and engage in real world observation, independent thought, research, and just plain altogether learning, (which also includes in my case how I came frighteningly close to being manipulated into falling into the Leftist trap anyway), I do indeed have the ability to see how evident and obvious it is that too many people in my country (the U.S.) are being manipulated and herded "like lambs to the slaughter" into Communism/Socialism by a bunch of government elitists and statists; how their international Comrades are getting away with doing the same thing to their people; thus also how they are all playing such a diabolical game of “copy-cat” with our lives and everything (when the United States was neither founded nor ever meant to copy or go by what others say or do, or we wouldn’t have bothered to fight a Revolutionary War for our freedoms, nor, therefore, would we have ever been “the last, best hope of mankind”), and altogether how they are leading towards a Leftist government elitist and statist so-called “One World Government”.

      But, even with such a Leftist Obama in the White House, and his international government elitist and statist Comrades in "leadership" positions around the world, I was still holding on to such hope and faith in what at least used be common sense, and devotion to freedom, that I didn't see such an actually dumbing-down, hostile against common sense, freedom-killing, Leftist government elitist and statist "One World Government" coming this fast.

      I thought the so-called "Generation X'ers" or "Generation Y'ers" certainly could end-up under such a "One World Government", especially if enough Americans don't wake-up, fight back, and defeat the government elitists and statists now.

      However, apparently this case just goes to show how us humans can still be so unpleasantly surprised by such evidence of how much more quickly such a nightmarish freedom-killing Leftist "governing body" is coming as it is, even if in de facto form at first, such as in the case of the G20 threat to economic recovery.

    17. Medina, Kissimmee, Fl. says:

      Can anyone explain how is it possible, ALL of Obama’s cabinet candidates has tax problems, owing thousands of dollars, without the IRS do their job of getting them paid on time? It just comes to light only when they are member to be named for Obama’s cabinet or jobs? How come this people are exempt of prosecution, while We The People, hard working little guys are prosecuted, harassed, and had to paid huge fines to defend ourselves? It’s an outrageous situation! When is justice to be served by our Justice Department, who are paid by our tax dollars,doing their job paid for? Is it that Obama’s people are above the law, too? Why so much favoritism with this tax evaders? It seems there is no morals, responsibility or accountability in place any more, since Obama came to the White House? Political correctness is rampant now a days. Where is his transparency & the better government he promised? It looks like we are living in days of the persecution in Germany.No one is safe no more if they criticized our Government, since they have their Modern Militia,which was uncovered in Missouri, according to the news this week. It seems this was cooked behind closed doors, since some people are boiling mad at someone who let the cat out of the cage! Now we are seeing a lot of none respect for our laws and human live! Worse is to come when Obama’s plan to let terrorist on our street and reward them with Welfare, too! What is he going to tell the families whose sons & daughters were killed by these murderers? Will he face them and give them the reward they deserved for loosing a love one? I wonder what will become to our country, if this keep up if going down the hill. Oh! Forgive my ignorance, It’s Bush’s Fault!

    18. Medina, Kissimmee, Fl. says:

      Tom, Grand Rapids:
      I agree with your comments, this man is to destroy our country and if people do not get up and fight for our country and its freedoms, we are doomed. I read a muslim comment long time ago and he was explaining that when they want to accomplished their goal,the best way is to befriend their people with make believe friendship which he called: “Taquiya”. Barrack claimed to be a Christian but, in the muslim world is OK, since their goal is to make America muslim country. While his fruit had shown he is not one, since lies are showing his true colors after he got elected by the media and his peers huge money funded his campaign. His promised were never challenge by the ones who voted for him, now everyone is paying the price for their greedy-selfishness and some with guilt for slavery times! Soon we will loose all liberty, even our sovereignty as a country. Obama had been for global poverty taxes and now Geithner wants one currency, which is associated with global government. We are in the End times!

    19. Geoffrey, South Caro says:

      Well what a surprise and I am being sarcastic. Remember Obama wants to please our allies and not America's self interests. When has socialism, Marxism, and communism ever succeeded? I am glad Republicans are fighting against this socialism. In response to Eric "we are a nation of cowards" Holder this is the same guy who pardoned Marc Rich and the FALN terrorists so what a surprise. Oh yeah and Gov. Kathleen Sebelius (D-KS) also is pro-abortion which as a Roman Catholic concerns me. Obama saying that they will take over the car industry is just another ideology part of the party of Marx and Lenin. And finally, of course the stimulus plan does not help the economy, it is just another government power grab. If you want to help the economy then let the market fix itself and do real tax cuts for ALL Americans.

    20. Nelia, Fountain Hill says:

      Indeed, what is happening at the G20 Summit? The real business will be done behind closed doors. We will learn of the dirty work later when it's too late – if ever we had a choice in this matter. Can you imagine global fascism? That is their goal. Just who is going to emerge the big Kahuna? Three guesses, the first two don't count.

    21. ella quinn kinston n says:

      I am in tears for our country.I am going to do my part to help.God help all of us. I pray the ones on the left will wake up to this evil adminstration and help us out.Their is a evil force with this.Obama acts like the forerunner of the antchrist.

    22. Pingback: “Worst Of Both Worlds” « Justbkuz

    23. Dennis A. Social Cir says:

      One world one governemnt is what obama wants. He is willing to give this country away to achieve this goal. I fought for this country and the beleif that all men are created equal. I have always worked for my needs and some of my wants. People are now hung on the idea that the "guvernment" will provide all for them. That is not what made this country, it has never worked and will never work. WAKE UP PEOPLE, TALK THIS COUNTRY BACK FROM THE SOCIALIST AND MARKIST.

    24. Ward, Knoxville says:

      The comments on this blog reflect the pathetic results of our educational system and it's failure to instill critical thinking skills among its' people. Bush literally ran this nation into bankruptcy right in front of your eyes and yet you continue to parrot 'Rush the drug addict' propaganda as if it had any credibility. Income inequality increases during Republican control, our taxes were misused and basically stolen in broad daylight without so much a peep from the 'right'. There is no problem spending billions to go out and 'kill' innocent people or sacrifice our soldiers lives so republican war profiteers can live the high life , but attempt to use that money to actually help the poor, right here in our country and your all crying socialism. Well listen up folks, especially those that bring the bible into this…If Jesus were here today, He would be a socialist! Obama did not make this mess, BUSH and the Republican-party of the super rich have created this mess. The Republican leaders are working to return this country to a feudal system – where VERY small minority live like kings, and the rest of us (the lucky ones) will be allowed to serve them like maids and butlers earning minimum wage. The Wall street and banking failures are due to the deregulation pushed by republicans over the several decades! Stop listening to talk radio – its entertainment folks not a source of valid news, pick up a book on critical thinking, research the Glass-Steagall Act, when and why it was put in place and who removed it! The rich do not have the voting numbers they need to get laws tuned to THEIR benefit, so they rely on the RUSH-Republican spin machine to lure the uneducated and non-thinking into following and voting for them! Don't take my word for it, pick up a book – a book on critical thinking may be a good start, then go back to the Great Depression, read, do your own research, figure out who got you the 40 hour week, protected children with child labor laws, enabled pensions etc. It won't be the republican party…they fought all these benefits in the name of business and labeled them socialism. Your eating their bull. So if your all looking to go back to the dirty hungry coal-miners way of life, keep supporting the republicans!

    25. DannyFLA says:

      Dear Morning Bell: It Is Not Up To Man To Create A New World/ Never Was And Never Will Be.If Indeed you set Up Your Economy, And I Do Mean Your Economy,It will contenue to work -as long as it is balanced, and not Tampered with. So it is in the European Meetings, That you are subjected to Laws, That will not only Change, The Economy, But take it into someone's hand -not – your- own..

    26. Chris Berg, Albuquer says:

      We have to organize into a mensunion.org type stucture to force reforms. Jesus ain't going to come down and save us. We're sitting on our butts and they're ripping us a new one. This is corruption. This is not a temporary problem with bankers and subprime loans, this is excessive Entitlement spending, $8 trillion a year. This is a hundred million people on the dole controlling elections. Electing the biggest crook who will promise them more and more benefits. Now, they want to dissolve the border with Mexico? The problem will only get worse. Socialism leads to economic collapse. History repeats itself. Oh, well, live it up while you can.

      Best regards, Chris Berg

    27. katris, ny says:

      I have read all of your posts, and have a few things to say. First, i would like to say that it is neither bush's fault, or Obama's fault. It is our fault. We gave away our rights without a second thought under the guise of terrorism, we demanded that "something had to be done" but were either too lazy or too uneducated to care enough to bother to read or research what that "something" entailed. It is normal to feel anger when you realize you have been lied to and ripped off, but we have to stop pointing the finger of blame to those that are all members of the same club, regardless of party affiliation. Go and check, look up who belongs to the Bildeberger group, just to name one.

      We have handed our civil rights to our enemy on a silver platter, and denounced the very rights that our grandfathers and forfathers fought and died for. Because of this, I say that we have no one to blame but ourselves, so wake up America, no amount of wishing, or talking, or blogging can restore our birthrights as Americans, especially when all of the key players are corrupt liars who are all members of the same clubs and laugh at us and our sweat and our strife as they use us and minipulate us and bend us to thier will.

      There is only one way to stop this, and it is to physically remove the system that is in place, restore the constitution, remove the patriot act and all the bullshit taxation and start over. Its too far gone now. I think that todays tea party demonstrations are a sure sign that the American people are rapidly approaching this realization on thier own. Enough is Enough and we arent going to take this any more. If we dont act now, it will be too late, im just happy that some of you are finally starting to realize it.

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