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2.7%  Q1 GDP    4.57%  avg. 30-year mortgage     9.5%  Unemployment

Czech Leader: U.S. Recovery Plan Is 'Way To Hell'

In the tell-us-what-you-really-think department, Czech Republic Prime Minister Mirek Topolanek called the U.S. recovery plan "a way to hell," CNN is reporting.

Topolanek may have reason to be bitter: his government collapsed yesterday after an embarrassing vote of no-confidence. The Czech Republic currently holds the rotating office of the presidency of the European Union, but Topolanek's comments significantly break ranks with the rest of Europe.

Topolanek said the Obama administration is following the same mistakes made by FDR that lengthened and worsened the Great Depression -- a view held by some U.S. free-marketers and political conservatives.

The Czech p.m. said he is "quite alarmed" at Treasury Secretary Tim Geithner's toxic asset plan.

"He talks about a large stimulus campaign by Americans," Topolanek said. "All of these steps, their combination and their permanency, is a way to hell."

-- Frank Ahrens
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By Frank Ahrens  |  March 25, 2009; 10:24 AM ET
Categories:  The Ticker  | Tags: Geithner, Mirek Topolanek, Obama, toxic assets  
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Yeah, he's in a position to lecture us, and FDR for that matter, on economic policy and mistakes....

Posted by: kreuz_missile | March 25, 2009 10:50 AM | Report abuse

Topolanek comments and perspective is significant. The actually "hell" of it all resides not in policies to try and revive capitalist global systems, but the laissez-faire / trickle down ideology that got both the US and the world to this cliff. If Topolanek would spend the time to read some solid history about the Great Depression and the New Deal, he would find his comment and perspective well represented in the right wing robber baronage that plunder, through government institutions, the wealth of nations and have done so again in this early period of the 21st Century. The most terrible problem he clearly is not conscious of: sustaining capitalism on its current tracks led by pillaging corporations whose imperative is growth will destroy the remaining ecosystem of planet earth. Then Mr. Topolanek, you will come truly face to face with hell.

Posted by: cbarrett49er | March 25, 2009 10:54 AM | Report abuse

We won't hear those words from Angela Merkel... because the Germans are not afraid of well.

We won't hear those words from Nicolas Sarkozy... because he embraced the American Way.

We won't hear those words from Gordon Brown... because he is ahead of Obama on the way to hell.

Posted by: tropicalfolk | March 25, 2009 11:02 AM | Report abuse

Oh my goodness, corporations bent upon growth.

Posted by: DaBishop | March 25, 2009 11:02 AM | Report abuse

He just got fired for incompentency and he lead a second world country.

Why is his departing shots even news?

Poor guy!

Posted by: SeedofChange | March 25, 2009 11:05 AM | Report abuse

Thanks to GW Bush, and Bush lackeys like Topolanek, we've been in hell for most of this decade. Only when the American electorate took matters into their own hands and began righting the ship through the Obama Administration did we begin taking the necessary steps to claw our way out of this morass.

Posted by: hiberniantears | March 25, 2009 11:06 AM | Report abuse

I have little patience with people analyzing the problems with FDR's administration who weren't alive then. My memories of the depression years were of 'little' people surviving through the New Deal's unemployment insurance and wage and hour laws or by running their own very small service-oriented businesses, all constantly buoyed up by a hope for a better future. Yes, it took a big war and a big dose of socialism to finally end the depression, but nobody wants that nowadays.

Posted by: loyalsyst | March 25, 2009 11:13 AM | Report abuse

Please, the guy's just lost confidence vote at home. He's gotta assume a pose of a world leader and expert on American macroeconomics to salvage at least some of his self-esteem.

I wonder what Mr. Topolanek did prior to 1989. Perhaps he was Komsomol's liaison in Prague?

Posted by: VMR1 | March 25, 2009 12:00 PM | Report abuse

Let's pray for this guy rather than beating up on him.

He just became irrelevant in his own second world country.

Let's pray for the poor guy!

Posted by: SeedofChange | March 25, 2009 12:18 PM | Report abuse

Obama is simply creating another credit bubble, so the guy is right.

Posted by: thegreatpotatospamof2003 | March 25, 2009 12:22 PM | Report abuse

That is properly the "Highway to Hell", thank you. And Europe never did like ACDC.

No whiners, either. Let's see the Czech ('Tapped Out') Republic's plan.

Posted by: roboturkey | March 25, 2009 12:54 PM | Report abuse

Dang it!

Why are we not imitating the Czech Economic Miracle?

Because there isn't one?

Posted by: tony_in_Durham_NC | March 25, 2009 2:11 PM | Report abuse

its no big mystery why the czech's, not just this prime minister but also former prime minister vaclav klaus, consistently buck the conventional wisdom that the reflexive so-called "progressive" ideology promoted by those of obama's ilk represents salvation from the age-old challanges that continue to bedevil us, our supreme modernity not withstanding.

living under the influence of the soviet union, these are men and women who saw first hand the damage excessive government power and micro-managing of everyday life produces.

they know false promises when they see them and are wise enough to refuse easy short cuts to prosperity and advancement of the cause of society.

Posted by: dummypants | March 25, 2009 2:17 PM | Report abuse

Czech Leader under attack because he dared to sympathize with the Palestinians over the recent Israeli massacre.

Posted by: Rubiconski | March 25, 2009 2:26 PM | Report abuse

you're right, obama is simply reinflating the credit bubble, doubling down on the unsustainable and irresponsible strategy of borrowing which got us into the subprime mortgage mess which cause these toxic assets which are at the root of our current economic malaise.

make no mistake, president obama is kicking this pipe-bomb of a can down and the road and its going to lay at the feet of the next president and our children and current workers during their retirement years.

all for what? universal health care fails to solve the biggest problem of health care--runaway spending ? throwing around more money as a way to bloat an education system which is fundamentally broken? imposing a carbon tax on industry and households as a human sacrifice to the global warming gods, during one of the coldest winters in recent memory, and even though the slight warming trend that was observable halted 10 years ago?

president obama seems to think our country is one big science experiment, a perfect test case for his "progressive" ideology.

Posted by: dummypants | March 25, 2009 2:29 PM | Report abuse

John Winger: Come on, it's Czechoslovakia. We zip in, we pick 'em up, we zip right out again. We're not going to Moscow. It's Czechoslovakia, it's like going into Wisconsin.

Posted by: rcupps | March 25, 2009 3:03 PM | Report abuse

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