Delusions Of Adequacy

Worth reviewing the economic prowess of the One who is Obama.

This year, even the G20 has abandoned Obama’s failed Keynesian “throw money at it” economics.

America is taking economics lessons FROM EVERYBODY – but not doing the homework – or even going to class.

From the Financial Times (subscription required) via Gateway Pundit

G20 Drops Obama’s Keynesian “Spend Your Way Out of a Recession” Economics

The communiqué of the meeting made it clear that the G20 no longer thought that expansionary fiscal policy was sustainable or effective in fostering an economic recovery because investors were no longer confident about some countries’ public finances. “The recent events highlight the importance of sustainable public finances and the need for our countries to put in place credible, growth-friendly measures, to deliver fiscal sustainability,” the communiqué stated.

“Those countries with serious fiscal challenges need to accelerate the pace of consolidation,” it added. “We welcome the recent announcements by some countries to reduce their deficits in 2010 and strengthen their fiscal frameworks and institutions”.

These words were in marked contrast to the G20’s previous communiqué from late April, which called for fiscal support to “be maintained until the recovery is firmly driven by the private sector and becomes more entrenched”.

Back to Obama’s Tax Cheat Tim Geithner going nuts screaming and cursing at Ben Bernanke while licking China’s boots – last August:

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