Theodore's World: Palin Slams Obama's Spending in Debut Speech in Asia

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September 24, 2009

Palin Slams Obama's Spending in Debut Speech in Asia

Palin slams Obama's spending in debut speech in Asia


Sarah Palin said the US government was wasting taxpayers' money and could aggravate poverty, said delegates at her first speech outside North America on Wednesday.

Palin, the former governor of Alaska, gave hundreds of financial big-hitters at the CLSA Investors' Forum in Hong Kong a wide-ranging speech that covered Alaska, international terrorism, US economic policy and trade with China.

Her performance, which was closed to the media, divided opinion.

Some of those who attended praised her forthright views on government social and economic intervention and others walked out early in disgust.

"She was brilliant," said a European delegate, on condition of anonymity.
"She said America was spending a lot of money and it was a temporary solution. Normal people are having to pay more and more but things don't get better. The rich will leave the country and the poor will get poorer."
Two US delegates left early, with one saying "it was awful, we couldn't stand it any longer". He declined to be identified.

In the CLSA speech, which lasted about 75 minutes, Palin also tackled the recent US trade spat with China, a country she said the United States should have the best possible relationship with.

According to delegates, she said US President Barack Obama's administration worsened an already difficult situation when earlier this month he slapped duties on Chinese tire imports blamed for costing American jobs.

They said she praised the economic policies of former US President Ronald Reagan and criticised the current administration for intervening too much during the recent financial crisis.

Although she touched on the threat posed to the United States by terrorism and talked about links with traditional US allies in Asia such as Japan, Australia and South Korea, one Asian delegate complained she devoted too much time to her home state of Alaska.

"It was almost more of a speech promoting investment in Alaska," he said, declining to be named.
"As fund managers we want to hear about the United States as a whole, not just about Alaska. And she criticised Obama a lot but offered no solutions."

Another said he was disappointed that she took only pre-arranged questions.

Several delegates saw the speech as a sign of her ambitions to run as a presidential candidate in 2012 and a useful indication of the potential direction of US politics in the future.

"It was fairly right-wing populist stuff,' one US delegate said.

Palin blasted Obama's proposals on healthcare, reiterating a previous statement made to the press that the plan would include a bureaucratic "death panel" that would decide who gets assistance, he said.

Another from the United States said: "She frightens me because she strikes a chord with a certain segment of the population and I don't like it."

CLSA, an arm of French bank Credit Agricole, said it closed Palin's session to the media after she indicated that she would have to adjust her speech if reporters were present.

Sarah Palin, Hong Kong, CLSA Asia Pacific Markets Conference, Sept. 23, 2009 Speech Excerpts

The Wall Street Journal


On Conservatism:

You can call me a common-sense conservative. My approach to the issues facing my country and the world, issues that we’ll discuss today, are rooted in this common-sense conservatism… Common sense conservatism deals with the reality of the world as it is. Complicated and beautiful, tragic and hopeful, we believe in the rights and the responsibilities and the inherent dignity of the individual.

We don’t believe that human nature is perfectible; we’re suspicious of government efforts to fix problems because often what it’s trying to fix is human nature, and that is impossible. It is what it is. But that doesn’t mean that we’re resigned to, well, any negative destiny. Not at all. I believe in striving for the ideal, but in realistic confines of human nature…

On Liberalism:

The opposite of a common-sense conservative is a liberalism that holds that there is no human problem that government can’t fix if only the right people are put in charge. Unfortunately, history and common sense are not on its side. We don’t trust utopian promises; we deal with human nature as it is.

On what caused the financial crisis:

While we might be in the wilderness, conservatives need to defend the free market system and explain what really caused last year’s collapse. According to one version of the story, America’s economic woes were caused by a lack of government intervention and regulation and therefore the only way to fix the problem, because, of course, every problem can be fixed by a politician, is for more bureaucracy to impose itself further, deeper, forcing itself deeper into the private sector.

I think that’s simply wrong. We got into this mess because of government interference in the first place. The mortgage crisis that led to the collapse of the financial market, it was rooted in a good-natured, but wrongheaded, desire to increase home ownership among those who couldn’t yet afford to own a home. In so many cases, politicians on the right and the left, they wanted to take credit for an increase in home ownership among those with lower incomes. But the rules of the marketplace are not adaptable to the mere whims of politicians.

Lack of government wasn’t the problem. Government policies were the problem. The marketplace didn’t fail. It became exactly as common sense would expect it to. The government ordered the loosening of lending standards. The Federal Reserve kept interest rates low. The government forced lending institutions to give loans to people who, as I say, couldn’t afford them. Speculators spotted new investment vehicles, jumped on board and rating agencies underestimated risks.

On Milton Friedman:

Now even Milton Friedman, he recognized that the free market is truly free when there is a level playing field for all participants, and good financial regulations aim to provide the transparency that we need to ensure the level playing field does exist, but we need not, we need to make sure that this regulatory reform that we’re talking about is aimed at the problems on Wall Street and won’t attack Main Street.

On the Federal Reserve:

How can we discuss reform without addressing the government policies at the root of the problems? The root of the collapse? And how can we think that setting up the Fed as the monitor of systemic risk in the financial sector will result in meaningful reform? The words “fox” and “hen house” come to mind. The Fed’s decisions helped create the bubble. Look at the root cause of most asset bubbles, and you’ll see the Fed somewhere in the background.

On deficits and Reaganism:

Common sense tells you that when you’re in a hole, you have to stop digging! A common sense conservative looks to history to find solutions to the problems confronting us, and the good news is that history has shown us a way out of this, a way forward from recession. Ronald Reagan, he was faced with an even worse recession, and he showed us how to get out of here.

If you want real job growth, you cut taxes! And you reduce marginal tax rates on all Americans. Cut payroll taxes, eliminate capital gain taxes and slay the death tax, once and for all. Get federal spending under control, and then you step back and you watch the U.S. economy roar back to life. But it takes more courage for a politician to step back and let the free market correct itself than it does to push through panicky solutions or quick fixes…

I can’t wait until we get that Reaganomics sense supplied again because we are going to survive, and we’re going to thrive and expand and roar back to life. And as the world sees this, the world will be a healthier, more secure, safer and more prosperous place when this happens.

On greenhouse gas legislation:

It seems like some are looking to ever more ways that will actually destroy economic opportunities today. Take for example, Washington’s cap-and-trade scheme. I call it the “cap-and-tax” scheme. Right now we have the highest unemployment rate in 25 years, and it’s still rising. And yet some in D.C. are pushing a cap-and-tax bill that could cripple our energy industry or energy market and dramatically increase the rates of the unemployed, and that’s not just in the energy sector.

American jobs in every industry will be threatened by the rising cost of doing business under this cap-and-tax plan. The cost of farming will certainly increase. That’s going to drive up the cost of groceries and drive down farm incomes. The cost of manufacturing, warehousing and transportation will also rise. We are all going to feel the effects. The Americans hardest hit will be those who are already struggling to make ends meet today, much less with this new tax every month…

I am not indifferent to environmental concerns. Far from it. As governor, I created a sub-cabinet to study the impacts of climate change in my state. And I was the first governor to do so. It took us in a new direction…

I’m a supporter of nuclear power and renewables. We can develop these resources without destroying our economy. And we can help the environment and our economy through energy independence.

On health care:

I seem to have acquired notoriety in national debate. And all because of two words: death panels. And it is a serious term. It was intended to sound a warning about the rationing that is sure to follow if big government tries to simultaneously increase health care coverage while also claiming to decrease costs. Government has just got to be honest with the people about this….

As I said, it’s just common sense to realize that government’s attempts to solve large problems like the health-care challenges that we have, more often create new ones, and a top down one size fits all plan will not improve the workings of a nationwide health-care system that accounts for some one-fifth of our economy.

Common sense also tells us that passing a trillion dollar new retirement program, that’s not the way to reduce health-care spending. Real health-care reform is market oriented, patient centered and result driven. It would give all individuals the same tax benefit, that an ideal plan that I would have in mind, same tax benefits as those who get coverage through their employers. And give Medicare recipients vouchers so that they can buy their own coverage. And reform tort laws and change regulations to allow people to buy insurance across state lines. Rather than another top down government plan, we should give Americans themselves control over their own health care with market friendly responsible ideas.


On relations with China:

We engage with a hope that Beijing becomes a responsible stakeholder, but we must take steps in the event that it goes in a different direction. See, we all hope to see a China that is stable and peaceful and prosperous. Optimism that yes, it will be.

Asia is at its best when it is not dominated by a single power. In seeking Asia’s continued peace and prosperity, we should seek, as we did in Europe, an Asia whole and free. Free from domination by any one power…

On China’s relations with Taiwan, and other controversial issues:

We simply cannot turn a blind eye to Chinese policies and actions that could undermine international peace and security. Here, China has some one thousand missiles aimed at Taiwan and no serious observer though believes that it poses a serious threat to Beijing. Those same Chinese forces make our friends in Japan and Australia kind of nervous.

China provides support for some of the most questionable regimes, from Sudan to Burma to Zimbabwe. China’s military buildup, it raises concern from Delhi to Tokyo because it’s taking place in the absence of really any discernable threat to it. China, along with Russia, has repeatedly undermined efforts to impose tougher sanctions on Iran for its defiance of the international community in pursuing its nuclear program. And the Chinese food and safety, uh food and product safety record, of course it’s raised alarms from East Asia and Europe to the U.S. and domestic instance of unrest. From the protest of Uighurs and Tibetans to Chinese workers throughout the country rightfully makes a lot of people nervous.

On human rights and democracy in China:

The more politically open and just China is, the more Chinese citizens of every ethnic group will be able to settle disputes in court rather than on the streets. The more open it is, the less we’ll be concerned about its military buildup and its intentions. The more transparent China is, the more likely it is that they will find a true and lasting friendship based on shared values as well as interests. And I’m not talking about a U.S.-led democracy crusade. [We’re] not going to impose our values on other countries. We don’t seek to do that. But the ideas of freedom and liberty and respect for human rights, it’s not just a U.S. idea. They’re very much more than that. They’re enshrined in the Universal Declaration of Human Rights and many other international covenants and treaties.

On China-U.S. economic relations:

Our economic interdependence drives our relationship with China. I see a future of more trade with China and more American high tech goods in China. But in order for that to happen, we need China to improve its rule of law, and protect our intellectual property. We need to avoid protectionism and China’s flirtation with state assisted national champions. On our part we should be more open to Chinese investment where our national security interests are not threatened. In the end though, our economic relationship will truly thrive when Chinese citizens and foreign corporations can hold the Chinese government accountable when their actions are unjust.


Wild Thing's comment......

Sarah called it "a view from Main Street."

Another from the United States said: "She frightens me because she strikes a chord with a certain segment of the population and I don't like it."

LMAO oh really so you do not like us, you POS. If you make a statement then give your name you freak, own it instead of throwing it out there.

Her resignation from Gov of AK was the smartest move she could make. Sarah Palin strikes fear into the hearts of Liberals and Socialists and RINOs everywhere.

....Thank you Mark for sending this to me.

3rd Mar.Div. 1st Battalion 9th Marine Regiment
1/9 Marines aka The Walking Dead
VN 66-67

Posted by Wild Thing at September 24, 2009 05:50 AM


Sarah is such a neat lady. I think Ronnie would have adored her common sense easy does it method of politics. Think about what a formidable team those two would have made! It's almost as if Ronnie sent her a message from Heaven--you are my chose warrior--now go forth and do great things for our great nation.

Posted by: Lynn at September 24, 2009 08:23 AM

"'She was brilliant,' said a EUROPEAN delegate..."

"'It was fairly right-wing populist stuff,' one US delegate said."

Sweet Jesus. What have we come to in America? Where Europeans of all people are now becoming more conservative than we are.

"Listen to me and you shall hear, news hath not been this thousand year:
Since Herod, Caesar, and many more, you never heard the like before.
Holy-dayes are despis'd, new fashions are devis'd.
Old Christmas is kickt out of Tow
Yet let's be content, and the times lament, you see the world turn'd upside down."

Posted by: JohnE PFC U.S. Army at September 24, 2009 09:19 AM

I still don't see the RNC, NRCC or most of the GOP embracing the changes Sarah advocates.
That quote: Another from the United States said: "She frightens me because she strikes a chord with a certain segment of the population and I don't like it." applies to them also.
I've got three dunners in yellow envelopes on my desk and a 4th in the kitchen from Michael Steele's office, all have the same questionnaires, the same theme of wanting cash for their coffers, yet there is no new messages of hope, no mention of new conservative values, no new potential candidates named or mentioned.
Two of Steele's quotes stand out: Of course, we realize as we move forward, our Party cannot simply oppose the obama agenda, we need to offer substantive alternatives based on conservative principals and free market ideals.

So we go along with the enemy, don't oppose Obama's agenda all the while we are proposing something akin to theirs?

So please, help the Republican Party refocus and rebuild so that we are ready to expose the Obama Democrat agenda of special interest handouts and ultra-liberal big government policies.

How defeatist is that last statement?: so that we are ready to expose the Obama Democrat agenda.

As Conservatives we don't need the Michael Steel mentality in the leadership, nor the GOP, we need a fire breathing dragon that loosens the bowels of the enemy when she speaks the truth.

The GOP union leaders pushed the likes of McCain, Snowe, Specter, Chaffee, Warner, they failed to support conservative contenders to make sure they kept their majority in the party and they lost it all to the Democrats, today they are bleating like the sheep they are to be spared at the next election, it's time to boot them out or form a new party.

Posted by: Jack at September 24, 2009 11:01 AM

Right on the money Jack.I feel the same way. I get calls every so often from the RNC. or some other Rep. Org. all the time. I simply tell them I will no longer give money to an organization that does not represent my viewpoint and continues to support RINOs. As far as the letters, immediately go to the round file.

Listening to Sarah's speech and reading the WSJ piece, I think that, we can safely say that, she has begun her campaign for 2012.

As to the nay sayers mentioned, I agree with you, Chrissie. If you say it, give your name.

Right Wing Populist Stuff? You betcha. Better get used to it,because we're on the march and will not be denied!

Posted by: SEAN. at September 24, 2009 11:47 AM

Thank you Chrissie for the excellent post on Sarah Palin's speech.

Sarah speaks openly. She seems to not fudge on what is the truth. Her articulation and speech giving are superior to obama's famed rhetoric. And Sarah doesn't need a teleprompter. This speech to the CLSA Investors Forum in Hong Kong shows that Sarah does have knowledge of an international scope and her financial views are rock solid. Yep, she is very much like Ronald Reagan.

Jack and SEAN, when the RNC calls me I tell them I support only individuals, not the party. I tell them that I am true conservative and the party is not. I don't know if the people who call are idealistic volunteers or paid telemarketers. Hopefully remarks are passed up the chain. During the recent campaign, the RNC complained about lack of fianacial contributions until Sarah Palin joined the ticket. Then they got a surge of contributions. That should tell the monkeys in the RNC where the bananas are.

Posted by: TomR at September 24, 2009 12:50 PM

Jack, I sent Michael Steel an email asking him who is more relevant to the Republican Party; Rush Limbaugh or Colon Powell. Also told him that until I get an answer, I won't send in another penny. So far, I haven't sent them a penny.

Posted by: BobF at September 24, 2009 01:34 PM

Well Sarah Palin sure strikes a 'chord' with me. I must be that certain segment of the population, that scares her. Good. And there are a lot more of us that scare this woman, or who ever she/he is.

They are scared to death of Sarah Palin, also good.

Posted by: Mark at September 24, 2009 03:01 PM

Lynn, I agree so much. I can just imagine
Reagan with a big smile on his face about

Posted by: Wild Thing at September 24, 2009 05:03 PM

JohnE PFC U.S. Army, that was

Yes the world sure is upside down.

Posted by: Wild Thing at September 24, 2009 05:05 PM

Jack,well said! I agree with all you said, that is
exactly it.

Also I get those too from the GOP.
I used to fill them out and just not
sent money. Now I just throw them
away. I know they really don't want
my opinion, heck I can't even get them
to answer their phones at the GOP or RNC.

Posted by: Wild Thing at September 24, 2009 05:08 PM


"Better get used to it,because we're on the march and will not be denied!"

Posted by: Wild Thing at September 24, 2009 05:14 PM

Tom,that is great, good idea.

" I tell them I support only individuals, not the party. I tell them that I am true conservative and the party is not."

Posted by: Wild Thing at September 24, 2009 05:16 PM

I urge people to be calm and remember that this was the way they attacked Goldwater except I doubt that they will try to get her thrown off of ballot because she isn't a "Natural Born Citizen" (Goldwater was born in the Arizona territory before it became a state) and the case got heard before the Supreme Court before the election
They, the liberals, are right to be afraid of her. We can expect to be symbolically Nuked like they did Goldwater because Gov. Palin could be the one to finally break the grip of the Liberal Establishment that has ruled since the Spanish=American War.

Posted by: Avitar at September 25, 2009 12:54 AM