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The strength behind Obama's re-election

By Everald Compton - posted Tuesday, 30 October 2012


It is, therefore, important for us to ask how an Obama-led America, as a world leader of Community Capitalism, will influence our life here in Australia?

Firstly, we should partner with him in achieving the successful establishment of Community Capitalism worldwide. In fact, we must establish a partnership of equality with the US in all facets of life, instead of continually relying on Americans to defend us if something goes wrong.

The main partnership must be to work with America - and China and India - in solving the financial mess in Europe where the lack of leadership and financial acumen is appalling. The Euro nations have the capacity to destroy us all if their irresponsibility is not corrected by someone with Obama's power.

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While we are sorting out the European tragedy, it will be essential that we partner America on all matters relating to energy. The future stability of the world could depend on it, as half of humanity does not have power to their homes, or even their workplaces, and controversy reigns as to how the world can achieve clean energy.

Australiacan play a big role in this by encouraging Obama to make this a priority item of his Presidency by showing that we have the resources, expertise, and environmental responsibility to be a significant contributor to this enormous energy challenge and opportunity which will increase as the world's population grows and ages.

The same recommendation applies to infrastructure. It has fallen into neglect worldwide, with Australia and the US being particularly guilty.

The greatest neglect is with railways. Aussies and Yanks have the doubtful pleasure of experiencing the gross inefficiency of the worst rail systems in the world and, while we must massively upgrade our railways and rolling stock here at home, we have a wonderful opportunity to get involved in railway joint ventures in America - if Obama will declare rail to be another major priority, recognising that automobiles have reached their zenith as the favoured means of transport and will slowly decline.

While we are talking to him, we should ask that he gets his budget into surplus in a hurry by cutting defence expenditure to the bone. No-one is going to invade them and their Department of Defence is riddled with corruption and rotten to the core.

The same slashing must be done to farmer's subsidies. American farmers are disgracefully inefficient, and are actively encouraged to remain so by the unjustifiable hand-outs that they receive year after year, so they can export cheap produce to the world and kill the economies of emerging nations whose non-subsidised farmers are thereby rendered uncompetitive.

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A significant part of Obama's less-than-inspiring first term record appears to have been caused by his belief that governments must dominate the economy rather than guide it.

He must now operate on a basis that no government can accept financial responsibility for the failures of the marketplace. Banks that are irresponsibly managed must go to the wall - automobile companies likewise.

Despite a disappointing first term, which failed to live up to the expectation that he created, plus the current lacklustre re-election campaign, I reckon that Barack Obama will win a second term when Americans go to the polls on Melbourne Cup Day - Tuesday, November 6.

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About the Author

Everald Compton is Chairman of The Longevity Forum, a not for profit entity which is implementing The Blueprint for an Ageing Australia. He was a Founding Director of National Seniors Australia and served as its Chairman for 25 years. Subsequently , he was Chairman for three years of the Federal Government's Advisory Panel on Positive Ageing.

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