The speech was OK, until this part:
This is the moment when we must build on the wealth that open markets have created, and share its benefits more equitably. Trade has been a cornerstone of our growth and global development. But we will not be able to sustain this growth if it favors the few, and not the many. Together, we must forge trade that truly rewards the work that creates wealth, with meaningful protections for our people and our planet. This is the moment for trade that is free and fair for all.
This’s undoubtedly a little scary, and the number one reason why I don’t trust Mr. Obama with my foreign policy OR my economy. This sort of pap is the quickest route to the end of American dominance, which in my humble opinion, is a bad thing. The flaw in “equality politics” domestically and internationally is so obvious that it shouldn’t require explanation: The lowest common denominator becomes the ideal, which is the opposite of what has made America, or Americans, successful. Rewarding need instead of ability is the beginning of the end.
Europe is actually becoming more American, though. There was an article the other day (which I simply can’t find now…I’m slacking, apparently) that detailed all the conservative fiscal moves that Europe has been making lately (Sarkozy, cutting corporate taxes, etc., etc.), in order to compete. Obama might find that (as Giulliani pointed out months ago after reading Sarkozy’s book) that an American move toward European policies might meet them in the middle of the Atlantic.