More good news?Obama’s Economic Team Does Not Bode Well for the Interests of AmericaBy Yomin Postelnik Tuesday, December 30, 2008
If we are to learn anything from history, it is that decisions regarding what is best for a nation are best made by those whose impressions, points of view and policies are formed by experiences that come from within that nation itself, by those who relate to and appreciate the daily lives of the majority of its citizens. History shows us that, as a general rule, significant foreign experience with the very best of intentions still serves to cloud one’s judgment.
Obama did not grow up in the US. He did not live through the riots of the 60's and related bombings. Does he have a clue?They see Obama as easy pickings in their effort to get America to follow the path that they prefer.
The only question that Americans should be asking is whether the hopes of Europe’s leaders are founded. Unfortunately for America, everything about the transitioning Administration indicates that they are.
To date, President-elect Obama has made a series of economic appointments. While appointees are diverse in age, background and geography, most share a common thread: extensive foreign policy experience.
Who is looking out for the best interests of Americans? People with dual citizenship? People who can just up and leave? Go elsewhere when the going gets tough?...Treasury Secretary-designate Timothy Geithner. Geithner spent many of his formative years in Zimbabwe, India (which is a staunch ally and would be a plus in any foreign policy role, but not in a position charged exclusively with protecting American interests), and Thailand, where he graduated from high school. His bachelors degree was in governmental and Asian studies and his masters was similarly in international economics and East Asian studies. Geither is a Council of Foreign Relations member, as well as a member of the Group of Thirty. He has also served on the International Monetary Fund. In short, while Geithner has amassed many impressive credentials, much of his training, history and outlook are internationalist in nature.
Is Geithner likely to look out for taxpayers and American's best interests? What was his role as watch dog for America over the past ten to fifteen years? How many good things did he do for this country? What are his accomplishments? Special interests?...Commerce Secretary-designate Bill Richardson. In fact, one would be hard pressed to indicate why a former UN Ambassador would be a natural fit for Secretary of Commerce in any case. This is especially true of Richardson, who played a prominent role in the strengthening of UNEP, the “United Nations Environment Programme.” Again, a good choice for the EPA, not for US Commerce.
Wow. Will he level the playing field for American manufacturing? Maybe jobs will return to the US? Same advantage as production offshore? VAT like taxes to pay for entitlement programs since all those jobs were lost?...Paul Volcker. Volcker is universally touted for his experience and for having engineered disinflation. Yet Volcker also had a lead role in one of this nation’s most serious economic blunders. In the 1970s, Volcker took a lead role in suspending gold convertibility, resulting in the collapse of the Bretton Woods system, a system by which our dollar was (more or less) pegged to the value of gold, providing it with tangible, long term value. The fact that our dollar has little intrinsic value is because of the decisions of Paul Volcker, Richard Nixon and others in the 1970s.
At the time, Ronald Reagan aptly warned the public that any nation that has gone off the gold standard has met with economic collapse. Volcker does not recognize his actions in suspending gold convertibility to be a mistake, which is quite telling and should be a source of concern for those who are now so eager for his advice.
Furthermore, Volcker is even more internationalist than is Geithner. From 2000 to 2004 Volcker served as Director of the United Nations Association of the United States of America, an organization that seeks to boost the public image of the United Nations among Americans. He is also a member of the Group of Thirty and a founding member of the Trilateral Commission. His knowledge of and experience in dealing with small business, the bedrock of America’s job market, is unfortunately far less extensive.
Reasons to be afraid of the future? Anyone looking out for America's interests? American taxpayers? Your 401k or retirement fund? Maybe just throw the US' interests into the next international Ponzi scheme?
Why has the dollar fallen in value over the years? What happens when it collapses completely? All the masses will have are dollars to use i/o toilet paper. Lawrence Summers, President-elect Obama’s pick for National Economic Council Director has a more conventional economic background, though he too has an internationalist worldview. His two years as Chief Economist of the World Bank undoubtedly contributed to his outlook, but perhaps only minorly so.
...Summers’ crowning economic accomplishments during his term as Treasury Secretary: His advocacy to deregulate derivatives and his support of the repeal of the Glass-Steagall Act ordinance that prohibited banks from owning other financial institutions. Simply put, as Treasury Secretary, Summers vociferously supported and advocated for the conditions that helped lead to the mortgage meltdown and paved the way for large banks to take over brokerage houses. This is not the man we need to head up the National Economic Council at this time.
Maybe Summer's will head up the Obama financial reform committee next month? 
The World Bank...is that an organization of integrity? Setting an example for the world?
Who's looking out for American interests?...those who left their most indelible impressions on America, Ronald Reagan, George W. Bush, the Roosevelts, Lincoln, Truman, Cleveland and Jackson, all did so from uniquely American backgrounds and perspectives. Some would add Andrew Johnson and Ulysses S. Grant to this list, both presidents who sought to heal a nation.
What, if anything does Obama have in common with Lincoln or Roosevelt?
I remember a few things from discussions about slavery many years ago. Pro-Slavery folks contended that slaves did not and would never have the capacity to manage their day to day business affairs. They'd always need a master. They'd never be able to keep their financial house in order and would always be looking for someone to help them out, for a handout or for day to day management of their lives.
What do we have today? A generation of Americans always looking for government to bail them out. Why isn't the government doing something about this or that? Government can only do so much before they become masters of all we say and do.
Why doesn't government level the international playing field? Why don't they make financial integrity job one?
Why aren't American interests put first? Anyone?The reason why presidents without foreign policy backgrounds make for better leaders is the same as the reason for why governors generally make better presidents than senators. They have first hand knowledge of the problems facing Americans and approach most issues from a standpoint of what is best for the American people. As a result, they care little to make concessions with other countries if they are against our national interests...
Does anyone think people in Asia care if Americans are hungry or homeless? Why aren't children in America competing with other children in America?The primary focus of an economic team must be to protect the interests of the nation above all else. Heavy foreign policy credentials among domestic advisors are a bad mix. Our national economic leaders must be in tune with the real needs of the American people. The American economic picture, not the global worldview, must be foremost in their minds and in their thought processes...
I agree. Who's looking out for the best interests of Americans?...We as a nation need strong voices, be they lone members of Congress or other public leaders, who will stand up and defend the economic interests of the United States of America. And, most importantly, the time to do so is now.
Who's looking out for Americans? Taxpayers? Only ones the incoming administration seems to be looking out for are foreign countries that Americans buy goods from. How long can the spending continue? The US is broke. Many folks do not have jobs. American's at one time had their choice of many good paying factory jobs. What happened to the American rice bowl?When will the nation focus on a sustainable economy? How many years before a reformer and master of change is elected? Someone to lead the country to prosperity?http://canadafreepress.com/index.php/article/7212just my humble opinions
