Issues Under Fire: Its the Global Economy Silly

Its the Global Economy Silly:

As evidence continue to emerge to support a worldwide recession is taking hold, it would behoove the Obama administration to get out front with it's solutions for mitigating the impending damages. Accepting the fact of the world's economic interconnectivity without understanding the inherent dangers of its interdependency could lead slower minds to be misled by political hucksters. 


Eager to blame the current administration for failed economic policies, the President's rivals will happily use softer domestic employment data to undermine his strategies for energizing the US's sputtering economy. If the GOP is allowed to keep the nation's attention focused inward, the voting population won't adequately appreciate the extent of external pressures weighing on the US and others. 


If employment percentiles are sure to be a major consideration in the US 2012 election, then it might be advisable to begin emphasizing how the US employment condition stacks up against the other advanced economies. Europe unemployment rate as a whole is roughly 11.1 percent, with about 17.4 million actively looking for work. 


In specific dead zones like Spain, 24% is the current jobless rate, with youth unemployment being far more grim. The latest figures from Greece shows its an ugly close second to Spain, suffering with a 22% unemployment rate. Portugal and Latvia are struggling with rates of 15% respectively. 


Although there are some faint signs of stability in Germany, Austria, Luxembourg and the Netherlands, the overall picture shows unemployment grew in 15 EU nations, while falling only modestly in 12 others. 


With reports of China and India's economies slowing down appreciably, due largely to Europe's seemingly insurmountable economic crisis, its crucial the American President demonstrates to its citizens and the international community, that his administration recognizes the world's collective economic crisis for what it is and has prepared to engage that crisis as a collective. 


During the G-20 summit scheduled for June 17-18, President Obama would be wise to exert America's influence to table any and all issues that does not focus primarily on what's needed to reduce high global employment figures. At this stage of the game, its all about cooperation and nothing but cooperation. 


Whomever can garner international support for any global economic stability plan will have little trouble convincing its own electorate there's is the path to follow. Since Barack Obama is the next and without question, most important leader facing reelection, it is critical that he be the one to present a reasonable, fair and equitable approach to the global crisis. 


Otherwise, the American President will be forced to defend against well funded GOP sniping attacks, designed to influence and cloud a domestically focused audience. Bottom line, these days all politics are global.