Posts Tagged ‘US can no longer drive global growth’

Obama America Squanders 110-Year Record As World’s Top Manufacturer

June 29, 2010

Obama’s hope and change is working great – for China.

It has been an unmitigated disaster for the United States.

Under the leadership of Barry Hussein, America will slip to second-class status before descending to banana republic status.

China to overtake US as World’s biggest manufacturer in 2011
Posted by Europe on Jun 22nd, 2010

The US remained the world’s biggest manufacturing nation by output last year, but is poised to relinquish this slot in 2011 to China – thus ending a 110-year run as the number one country in factory production.

The figures are revealed in a league table being published on Monday by IHS Global Insight, a US-based economics consultancy.

A 110-year consecutive run is no match for the biggest failure to ever occupy the White House.

Mind you, the White House doesn’t much care.  Tax-cheating Treasury Secretary Timothy Geithner uttered an apologetic note that the US can no longer drive global growth.

Obama openly acknowledges that America will no longer the engine of economic growth as long as he continues his misrule:

OBAMA:  The US economy for a long period of time was the engine of world economic growth.  We were sucking in imports from all across the world financed by huge amounts of consumer debt.  Because of the financial crisis, but also because that debt was fundamentally unsustainable, the United States is not going to be able to serve in that same capacity to that same extent.

How’s that for a “can’t do” attitude.  “Yes we can,” you say?  Apparently not!

Hey, I have an idea: why don’t we borrow another three trillion dollars from China, squander it stupidly, and then pay the Chinese exorbitant interest rates that eat us alive for the next 20 centuries or so?  And, of course, we can just give all our land to them if we can’t make good on the payments.  That ought to help us, right?

The American people sure aren’t able to buy homes a year and a half into Obamanomics.

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