I think BHO is finally running out of room. The Australian is starting to realize the unthinkable. The Emperor has no clothes. BHO hasn’t got a clue.
Full-blown panic is setting in on US financial markets, prompting anxiety in Canberra and other leading world economies that the Obama Administration is not doing enough to try to stop the haemorrhaging.
While President Barack Obama and the Democratic-controlled Congress have muscled through $US787bn ($1.2trillion) in stimulus spending to try to fire up the jobs market in the US, sources in the Rudd Government have flagged concerns that the underlying cause of the US economic meltdown – the unprecedented credit freeze – is not being addressed.
The worry comes as US business leaders are warning the economy is in freefall.
They, along with key players in the Group of 20 leading economies, are looking with increasing urgency for clarification from Washington on its plans to deal with the toxic mortgage debt in the banking system that has brought the global financial system to its knees.
The crisis could not come at a worse time as the Obama Administration attempts to come to grips with governing after less than 50 days in office and as key posts in the US Treasury, which is overseeing Washington’s rescue package, remain unfilled.
This is a very dangerous moment, one which nobody, not even those who dislike President Obama, should relish. This is the equivalent of being in a 747 at 41,000 feet and realizing there’s an imposter or someone who doesn’t know how to fly the airplane at the controls. Once the news starts to spread in the cabin, it will cause a destructive panic, which won’t solve the basic problem of flying the plane. Whatever gratification anyone gets from having had doubts from the outset are secondary to the need to keep the airplane in a stable flight envelope.
What needs to be done is to very calmly get the guys at the wheel to ask for help. Maybe they can pretend to keep flying the plane. That’s OK. Keep talking to him. Everything’s going to be OK. But all this stuff about carbon trading, green jobs, and redesigning healthcare and education is so much malarkey in a situation like this and maybe we can talk about it later, but right now, tell the tower which of the dials you don’t understand. We can solve this together. I know you’re the Messiah, but humor us and pretend you don’t know all the answers. Easy does it.
