President Obama humiliated as 15 Asian Nations exclude the U.S. from economic partnership

It is symptomatic of the national condition of the United States that the worst humiliation ever suffered by it as a nation, and by a US president personally, passed almost without comment last week. I refer to the November 20 announcement at a summit meeting in Phnom Penh that 15 Asian nations, comprising half the world's population, would form a Regional Comprehensive Economic Partnership excluding the United States. 

President Barack Obama attended the summit to sell a US-based Trans-Pacific Partnership excluding China. He didn't. The American led-partnership became a party to which no-one came 

Instead, the Association of Southeast Asian Nations, plus China, India, Japan, South Korea, Australia and New Zealand, will form a club and leave out the United States. As 3 billion Asians become prosperous, interest fades in the prospective contribution of 300 million Americans...

And some of The reasons for exclusion?

-It is borrowing $600 billion a year from the rest of the world to finance a $1.2 trillion government debt, most prominently from Japan (China has been a net seller of Treasury securities during the past year). 

-It is a taker of capital rather than a provider of capital. 

-It is a major import market but rapidly diminishing in relative importance as intra-Asian trade expands far more rapidly than trade with the United States. 

-And America's strength as an innovator and incubator of entrepreneurs has diminished drastically since the 2008 crisis, no thanks to the Obama administration, which imposed a steep task on start-up businesses in the form of its healthcare program.

Read the full story HERE.

Yep....NOT ONE PEEP on this in the media. At least not that I saw. They're Still covering his ass.

Thanks President Obama. We're well on are way to Banana Republicsville.

Here is a related story: Southeast Asia's Growing Appeal

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