How Do Brits Feel About Obamas Proposed Economic Nationalism?
President-elect Obama has never proposed protectionism. He simply believes there should be a more level playing field when it comes to free trade. You should look at past negotiations in the European Union when countries like Spain, Portugal, and Greece applied for admission. The same issues arose.
Given it is nothing new I don’t feel any different, America talks the talk, but it doesn’t walk the walk with regard to the free market. In the last few years the US implemented steel tariffs and export tax breaks, both of which were deemed illegal by the WTO, not to mention ban online gambling companies (who just happened to all be foreign owned and were competition for US casinos). Plus of course the numerous restrictive laws on foreign ownership. America has always been protectionist.
Obama was a major part of the Democratic administration that pushed through congress,( with his parties support), measures that insisted that the lending institutes were forced to involve themselves in the lending to minorities who were never even asked if the loan could be paid back, along with ACORN, and boycotts and threatening demonstrations, outside of offices, of lenders, they were warned SEVENTEEN times by congress that this would be a major financial risk to the market place if this continued, it was, and it has become one, a major one, if the lenders had followed the rules of normal prudence as they also failed to do in this country, it would never have happened, it is not the right but the left who caused this, add the fact that this husband managed to earmark funds for Chicago that end up becoming university funds, at the very place where his wife worked, and received $200,000, as a wage RISE and he never felt like saying that money was for the students honey ! give it back,
