Der Spiegel: "America Has Become Too European"

Der Spiegel writes that "the behavior of the American government and the Federal Reserve makes one thing clear: They do not see the solution to the US's economic woes in a return to traditional American virtues. Obama is not calling for the unleashing of market forces, as Ronald Reagan once did during an equally critical period in the early 1980s. On the contrary: Obama, driven by his own convictions and advised by economists who believe in government intervention, has taken a path that leads far away from those things that catapulted America to the top of the world in the past century. The Obama administration's current policies rely on more government rather than personal responsibility and self-determination. They are administering to the patient more, not less, of exactly those things that led to the crisis... The highest commandment of the American worldview was always to maximize individual freedoms and minimize government influence. It was an approach that was highly successful. According to that rule, self-directed action would remain the rule and government intervention the unpopular exception. But that is no longer the case... If the US manages to revert to its former ways, there is potential for hope. If not, the American age will have really come to an end."

To read the full article visit http://www.spiegel.de/international/world/0,1518,715339-2,00.html Tweet