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Obama's Social-Democrat Middle Way is Europe's 'Way Out' (Italia Chiama Italia, Italy)

 

"Obama is a European-style social democrat, not a revolutionary. ... There is a lot of talk about economic recovery in 2013. But if there is any, it will be in America, not in Italy, nor in Spain, nor in any other European country at risk. ... On a visit to Italy, Nobel prize winner Paul Krugman - a liberal - diagnosed European countries with having 'austerity poisoning.' ... Unemployment in America remains high, at around 8 percent, and the economic recovery is bumpy. But America is on the right track, while imperiled European countries are on the wrong one."

 

By Ennio Caretto

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Translated By Kate Townshend

 

January 27, 2013

 

Italia Chiama Italia - Italy - Original Article (Italian)

Leonardo DiCaprio in Django Unchained: Hollywood's 2012 output reflects widespread support for the Obama agenda.

 

BBC NEWS VIDEO: Italy faces electoral chaos after national elections, Feb. 26, 00:02:46.RealVideo

Washington: The inaugural address of the second Obama presidency seems to have impressed the public, especially his defense of gay rights. But defending gays is only the symbol of a program that could change America. It is a reform program that in Italy might be described as no longer centrist, as in his first term, but one inspired by social democracy. Having sensed this, Republicans accuse the president of "socialism," a term equivalent in America to communism.

 

This is an unfounded accusation because Obama is a European-style social democrat, not a revolutionary. The president wants more social equity and economic justice; he wants an America in which human and civil rights are respected, where finance and private industry are regulated for the common good, and where bloodbaths cannot be committed in the name of the right to bear arms. In accomplishing this program, on Obama's side is Hollywood, where directors as diverse as Spielberg and Tarantino have made two films that masterfully summarize his objectives.      

 

Spielberg’s Lincoln, about the president who abolished slavery, is a warning to political forces that all citizens are equal before the law, and that their dignity and livelihood must be protected in the same way. In Tarantino’s Django, about a heroic Black cowboy from the legendary Wild West who engages in bloody shootouts, although he abhors violence, is an indictment of the abusive system of oppression established by the rich and powerful, and an exhortation to the weak and poor to peacefully join forces. The two filmmakers couldn't be more different, but they have both captured the spirit and aspirations of the majority of Americans who reelected Obama.

 

From the polls, it appears they eagerly await his reforms. Health care reform marked Obama’s first term. If the president manages to bend Republicans, he will do more than just prevent falling off the "fiscal cliff" - the financial abyss into which America is likely to drop due to budget deficits and sovereign debt. From capitalist paradise to social democracy, Obama will also set the stage for a national transformation, a really "big deal" modeled after the "New Deal" of Roosevelt, the president who overcame the Great Depression of the 1930s and defeated the Nazis in WWII. This will be to the benefit of Europe, where American imbalances have has disastrous repercussions since the 2008 crash. And Europe would do well to pay close attention to Obama's program and imitate it as far as feasibly possible.

 

There is a lot of talk about economic recovery in 2013. But if there is any, it will be in America, not in Italy, nor in Spain, nor in any other European country at risk. This is clear to see by the performance of the various economies: the American economy is growing by around 2.5 percent per annum; the Italian, Spanish, etc., are in continuous decline. This is also reflected by the opposing strategies of America and European countries. America has slightly reduced public spending and taxes and has massively stimulated private industry, while Italy, Spain, and others have dramatically cut expenditures and raised taxes while investing almost nothing. At this rate, it appears likely that in 2013, the American economy will take off, while ours and Spain's will instead become increasingly dysfunctional.

 

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SEE ALSO ON THIS:  

Corriere Della Sera, Italy: 'Obama Prototype': Rome's First Black Emperor, Septimius Severus  

Gazeta Wyborcza, Poland: America's Romantic Economic View of the European Lifestyle

Diario Economico, Portugal: Utopia Lost?: European Dream is Over Without Greater Federalism

Kayhan, Iran: 'Politicized Hollywood' Gives Anti-Iran Film Argo 'Best Picture' Prize  

Guardian Unlimted, U.K.: Oscars 'Snub' British Director Michael Winner  

Global Montreal, Canada : Canada Shines on Oscar Night  

Hospodarske Noviny, Czech Republic: Obama's Reelection 'More Bad News' for Europe

 

 

On a visit to Italy, Nobel prize winner Paul Krugman - a liberal - diagnosed European countries with having "austerity poisoning." In America, Krugman observed, Obama has cut federal jobs, but not to the point of creating hazardous unemployment. And why not? Because health and public education provide a good portion of the jobs to Americans which then feed consumption.

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At the same time, the president has provided hundreds of billions of dollars of incentives to private industry, to which the Federal Reserve has granted enormous loans at practically zero interest. Obama has contributed to America's economic recovery with a slight reduction in taxes, which compounded the budget deficit and sovereign debt - but not irretrievably.

 

Unemployment in America remains high, at around 8 percent, and the economic recovery is bumpy. But America is on the right track, while imperiled European countries are on the wrong one. As far as Italy is concerned, it may be that indignation over wasteful spending and the scandals of our political culture will prune our parasitic power elite - including in the regions and provinces. But this won't produce sufficient savings. Supplementary intervention following the American example is required. The painful structural reforms of the Monti government will yield few results unless accompanied by tax cuts and economic stimulus. Our February elections may provide an auspicious moment for some clarity on this point.

 

Italy is also in need of a "big deal." It's true that America is not as handicapped by global finance - which is in fact an extension of American finance - as Italy and Spain are. But it's up to Brussels to partially lift this burden from Rome and Madrid, because they are no longer capable of withstanding extreme sacrifice without falling into social chaos and a depression analogous to the experience of Greece, which would echo across Europe.

 

Mario Draghi, president of the European Central Bank, is operating like Ben Bernanke at the Federal Reserve. The governments of strong countries like Germany should operate like Obama and give consent to governments in weaker nations to revive their economies. This is the only way the sovereign debt of the latter can be contained, and in the midterm be reduced.   

 

CLICK HERE FOR ITALIAN VERSION

 

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Posted By Worldmeets.US Feb. 27, 2013, 9:49am