In a parliamentary system when the confidence of the people is lost, the elected officials in the parliamentary body take a vote, if the majority vote is that there is no longer confidence in that official or it's party to lead a nation generally there are new elections held to restore the faith of the people to have someone in office that can successfully lead the nation. The American system is very different from that arrangement, however there are other indicators of just how successful a President is and those indicators tend to be a more harmful way to objectively value the success of a President. For our time, the recent drop in the markets tells a story of not only the loss of confidence of a President, but of a once proud nation. It has become clear to the world that United States Inc. has proclaimed itself as " too big too fail " and those who in the past believed in the " full faith and credit " of USA inc., had better begin to reorganize there finances when doing business with the United States.
Just over the weekend China, a Communist Country, a country with a planned, backward economy which has only recently began to give employment to it's people ( after 30 years of struggling to understand " how " employment is created ) has decided to scold United States Inc., publicly for it's extensive warfare/welfare programs. If it were for purely propaganda purposes I would not have paid any attention to a little chiding from the budding Communist Planned Capital system, however it has become clear that Beijing understands finances far better than Washington D.C., and has no problem letting the rest of the world know just how poorly that we are handling our finances not only to embarrass us as a people, but to embarrass out system which is the flag ship of free enterprise. Can't say that I blame them too much, any time you can rub your rivals nose in a pile of dog poop........ well why not.......? after all...... all is fair in love and war right ?
We can lament the stupidity of the latest debt ceiling crisis all we want as a people, but the authorization to recently increase the debt ceiling was, is, and will continue to be about spending money that Congress does not have in the Treasury, and is issuing bonds to raise cash, to spend money it does not have. That play book has run it's course, the governing class has shown the world, that it has an insatiable appetite for spending on pork, war, and welfare, regardless of economic realities that show time and again the failure of such a system. To be reminded by a Socialist that understands a market economy better than a member of the elected class in this country is unacceptable. While the President is playing shell games, and the Congress is playing the blame game, real people with real suffering, are continuing to lose all that they have worked for, young people are facing a future of limited, and devalued prospects, and foreign investment will dry up, as well as domestic investment, because clowns in Brooks Brothers suits cannot abide by a simple rule of life. Spend only what you have.
If Al Gore wants to start a real revolution in this country along the lines of The Arab Spring, then he should be the first to pony up some of that global warming cash he has made over the last few years, to Start a political party, with an intellectual base steeped in free market economics, but that is not what Al is about, nor any one else established in the political process. It is going to have to be WE the People who make that change happen. Until that happens, welcome to lectures from Beijing ........... on how to be a Capitalist. We should all be ashamed.
some more links to read on this:
http://english.peopledaily.com.cn/90780/91421/7562793.html
http://www.reuters.com/article/2011/08/08/markets-stocks-idUSN1E77709U20110808
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