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Raymond Johansen

Raymond Johansen

Posted: November 1, 2010 12:47 PM

From Europe we watch the US midterm elections very close. Will the House and Senate remain arenas for political dialogue or will we see a turn towards politics of obstruction?
Observing the elections from Norway, it is hard to grasp that the optimism which rushed President Obama to power could have dwindled so rapidly. Let's not forget he inherited a country politically divided, steeped in debt, and with a financial crisis unfolding. The administration's groundbreaking economic stimulus package, and the health care reform bill, are political deliverables to be proud of. I hope voters allow the administration some space. Showing a bit of patience would be a good thing.
Still the austerity message gains ground among Republicans, supported by a cocktail of Tea Party rhetoric and Fox News political agenda. In many European capitals the austerity drive is now the order of the day. In France, Germany and especially in the UK conservative governments compete to inflict cuts in social programmes for poorer families and unemployed. These policies may be directly harmful to economic recovery, and at times seem more guided by acts of faith than sound fiscal policies.
In Norway, the government led by the Labour Party and Prime Minister Jens Stoltenberg has steered us through the financial crisis by introducing a fiscal stimuli package to support job rates and growth. With the lowest unemployment rate in Europe and a healthy economic growth forecast for next year, we will continue to build and modernize the welfare state which underpins the Norwegian society.
The world needs cooperative leadership - leadership based on a will for dialogue in financial policies as well as in other areas. Inward-looking austerity and Tea Party populism is not the answer, neither for the US nor for Europe.
What do you think? I'm interested in your views, so please comment my post under, on Twitter or on my Facebook
 
 
 
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12:19 PM on 11/02/2010
What Mr Johansen choose to omit in this article is that 28% of Norway´s state budget for 2011 are revenues from petroleum exploitation (not including secondary and tertiary effect of petroleum revenues/activities which would make the percentage even higher). The budget has a surplus of 153 milliarder NOK. Without petroleum the petroleum corrected deficit is 135 milliarder.
Norway´s economy is on oil steriods and plays a significant role explaining Norway´s capability to act as it does in the time of this financial crisis - this favourable position cannot be attributed to a specific type of government ideology as Mr Johansen claims.
For your information; Norway´s GDP in 1970 was 37% of Sweden, at present it´s almost equal. Sweden´s population is twice as large as Norway´s. Norway made it´s first oil discovery in 1969.
01:22 PM on 11/01/2010
I think Americans can't think their way out of a paper bag. I think US elections are purchased. Stir those together and what you get is a Republican controlled Congress hostile to the citizens of the United States. I think what you will see is exactly what is happening in the UK start happening in the US accept here will be essentially be in the name of "Jesus". You will see impeachment proceedings. You will see political violence escalate. You will begin to see the end of the United States. Hopefully I will make it to Scandinavia in time as you folks truly have the best system going these days.