Even with the “petri dish” countries of Italy, Greece, Spain and Portugal showing signs of total economic ruin with their socialist history and “green” energy agenda, Obama is ignoring the writing on the wall and, with his EPA buddies, is embracing all of the policies that have brought those countries to the brink. Even though the Congress has rejected his “cap and tax” legislation, he is, by Executive order through the EPA, enacting much of his plan. Obama and the EPA are not happy with $3-$4 gasoline, skyrocketing electricity prices and the transfer of a significant portion of America’s wealth to the Muslim OPEC countries; by shutting down our coal fired power plants, restricting oil exploration and drilling, blocking pipeline construction and supporting George Soros’ oil ventures in Brazil and Colombia, he is dooming the once powerful USofA to the economic waste bin.
Four more years is all Obama needs to complete his total destruction of our economy.
Excerpt: During his 2008 campaign, President Obama made his support of climate-change interventions clear, stating that his presidency would slow the rise of the oceans and begin to heal the planet. He promised that a cap-and-trade system would curb global warming.
He was elected, but the electorate hasn’t liked many of his policies. Cap and trade never passed Congress. To this day, President Obama has remained comparatively popular, but people believe he is taking the country in the wrong direction—toward a European system. Even his Secretary of Energy, Steven Chu, believes our gasoline prices should be higher, like Europe’s.
While Italy is in the news for its brutal economic woes, it shares several components with the US.
Italy has a declining private sector with growth in government, disappearing industrial production being filled in with goods from China, and high gas prices/imported oil. Italians are still consuming, but now their euros are going to other countries—most notably China and the OPEC countries, resulting in exploding trade deficits. (Sound familiar?)
Climate-change mitigation adds to the problem as it artificially inflates energy prices through the troubled Ponzi-like cap-and-trade scheme and creates more government jobs, regulation, fees, and hidden taxes. With the increasing production costs, industry declines and unemployment rises. Over time, some of those put out of work in industry may get absorbed by government—which keeps the unemployment numbers from looking as grim as they might without the government jobs. Government jobs do not create wealth, as mining and farming do, but like a funhouse mirror, they distort the true picture.
All of the above sounds eerily similar to the US—except we did not sign on to the Kyoto protocol, nor did we pass cap-and-trade legislation. However, President Obama has not given up on his plans to “curb global warming.” Instead of cap and trade, we have the EPA directed by President Obama’s appointee, Administrator Lisa Jackson—who, by her own admission, aims to level the playing field. The EPA is doing everything it can to raise the cost of energy, which, if left unabated, will continue the demise of American industry and the growth of the government sector—resulting in exploding trade deficits. (Sound familiar?)
Back to Italy. In EU terms, Italy is one of the “poor” countries—along with the other Club Med countries: Greece, Spain and Portugal. In the mini-global government known as the EU, the “wealthy” countries no longer want to carry the “poor” ones.
Germany and Italy are both EU members and in good times, Italy’s growing government sector could mask the harsh economic realities. By comparison to Italy, Germany has abundant energy supplies from nuclear and coal-fueled power, a strong industrial sector, and a good work ethic. Germany “has”; Italy “has not.” In EU terms, Germany is expected to carry Italy—but they don’t want to.
The US “has” abundant energy supplies; the EU “has not.” The EU has to depend on schemes like carbon trading, about which Rob Elsworth of the climate-campaign group Sandbag in London said: “is a pretty important revenue stream for most member states.” He asks, “If you take away this green-economy narrative, what’s really left of Europe?”
The EU’s economic crisis provides the US with living proof that we do not want to play in the global-government game where the “haves” are expected to carry the “have nots.” We have the resources; we still have industry; and we still have a good work ethic. Will we use them to save America and the free market system that has allowed us to grow to strength, or will we be drawn into the green big top?
Read full Townhall report here.