Dec 7, 2012

US unwanted as business partner in Asia. Obama with hat in hand gets shown the door.

Comment.
Obama's debt ridden America has become an unwanted business partner in prosperous Asia. Obama went to sell a US plan but was snubbed and even kicked out in quite a humbling way. America has become a nobody under Obama. Even if Obama raises the debt limit, it won't matter because no one will be willing to lend. Even if the US is willing to pay high interest, nations see the dysfunctional government spending and know that the US won't be able to afford to pay the loan. Printing worthless dollars won't work. This is what happens when you put a person like Obama in charge.

source: http://www.atimes.com/atimes/Global_Economy/NK27Dj02.html Post-US world born in Phnom Penh By Spengler 

It is symptomatic of the national condition of the United States that the worst humiliation ever suffered by it as a nation, and by a US president personally, passed almost without comment last week. I refer to the November 20 announcement at a summit meeting in Phnom Penh that 15 Asian nations, comprising half the world's population, would form a Regional Comprehensive Economic Partnership excluding the United States. President Barack Obama attended the summit to sell a US-based Trans-Pacific Partnership excluding China. He didn't. The American led-partnership became a party to which no-one came. Instead, the Association of Southeast Asian Nations, plus China, India, Japan, South Korea, Australia and New Zealand, will form a club and leave out the United States. ...

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