The rest of the World

Is Catching up, and that's a good thing according to Our President..  I'm not kidding that is essentially what Barack Obama said in Seoul Korea at the close of the G 20 Summit. The President of the United States of America put it this way;

Whereas the U.S. had been the dominant superpower, "We are now seeing a situation where a whole host of other countries are doing well and coming into their own and naturally they're going to be more assertive ... and that's a healthy thing,"

Don't run out and sell your stock in Coca Cola, I'm going to use them to make and example of what the President did and said during his working vacation.  No CEO of Coca Cola would be that stupid.

Imagine the CEO of Coca Cola holding a stock holder meeting and proclaiming "Sales, revenues and profits are all down.  Those no name Cola Companies we've been laughing at for years have improved their they're products, and lowered  their manufacturing costs.  They now have double out market share, I think that's healthy competition.  It's good for us.   

Now just suppose our "politically and socially concerned" CEO made that statement after it had become public knowledge that he begged competitors to raise their prices and failed. Had gone to suppliers asking to renegotiate raw material cost and failed.  Then asked the competition to loan Coca Cola Money to pay for day to day operation and an expansion program.

The CEO would be lucky to make it out of the meeting alive.  My guess is regardless of a century of reputation and profit Coca Cola would be history.  As I said earlier, no CEO of Coca Cola would be that stupid.  That is exactly what the President of the United States did.

Conning foreign countries into paying for the American Standard of Government has been going on far to long as it is.  The rest of the World is starting to figure out they're being conned.

He failed to conclude a favorable trade agreement with South Korea that's been in he works since George Bush was President.  The South Koreans don't want to pay more for Beef than they have too, and since they can sell their cars for more elsewhere, why make concessions.

The President is claiming to have reached an agreement on currency revaluation.  That agreement is only slightly more impressive than the one he brought home from the Climate Summit, where the participants agreed to take note of what Obama had said..

According to Associated Press;

"Obama's summit partners declined to endorse his position, issuing a watered-down statement saying only they agreed to refrain from "competitive devaluation" of currencies. Using a slightly different wording favored by the U.S. — "competitive undervaluation" — would have shown the G-20 taking a stronger stance on China's currency policy."

What Obama is trying to spin as a victory is actually a slap at the United States.  As AP pointed out , "Competitive Undervaluation" is what the United States has been accusing China of doing.  What AP didn't point out, is "Competitive Devaluation" is exactly what the United States just did with QE II. The statement was a negative diplomatic reply to the actions of the Federal Reserve, an action Obama and Secretary of the Treasury Tim Geithner totally endorse.

Take a minute or two and read this article from Tech Ticker;  U.S. of "Irony and Hypocrisy": We're No. 1 ... At Currency Manipulation," or do it the easy way and just watch the video..

When you're done, see if you can figure out why the President of the United States thinks it is healthy for us to lose our stand alone position as the worlds strongest economy.  Sounds to me like a reiteration of his position on America Mediocrity