Friday, November 13, 2009

Obama Moves To The Dark Side..

The President has spoken....

http://online.wsj.com/article/SB125809531174346699.html?mod=WSJ_hpp_MIDDLETopStories

"The president will continue to be clear that one of the lessons of the economic crisis is that growth driven by U.S. consumers is not sustainable in the 21st century," said Ben Rhodes, a senior official in the White House National Security Council and Mr. Obama's lead foreign policy speech writer.
Mr. Obama will press his push to "rebalance" the world's economy, urging China to adjust its economic policy to spur domestic consumption as the U.S. encourages less consumption, more savings and more exports. Mr. Rhodes would not say whether the president would push concrete policy changes to cement his "rebalancing," such as convincing China to allow its currency to appreciate on the international currency market. A more valuable Chinese yuan would give Chinese consumers more buying power while making Chinese exports more expensive."

Is it just me or has President Obama moved to the dark side? Because he seems to think and believe like Geithner/Bernanke that killing the USD is an acceptable practice. I think he is trying to get his Doctorate in "Chopper" Finance from Benedict Arnold University.

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