Obama’s lack of understanding is beginning to stand out on the world stage. And Timonthy Geithner, the US Secretary of Treasury, is showing his lack of understanding and his lack of independence from the Oval Office.
In a recent decision, the federal reserve has decided to buy $75 billion worth of bonds through mid-2011.
No Understanding of World Economics
Obama’s lack of understanding world economics has made itself obvious in a statement made in Seoul, Korea at the G-20 meeting.
From everything I can see, this decision was not one designed to have an impact on the currency, on the dollar…It was designed to grow the economy.
A basic economics course in international economics at nearly any college or university in the US will teach you that a decision, such as the one to increase the money supply by $75 billion, will make a major impact across the world economy.
Click here to read the Wall Street Journal Article.
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