Submitted by Tyler Durden:
Obama may not be the most successful president when it comes to creating jobs at home, but when success is measured by the number of blowjobs outsourced abroad, he may be truly second to none, as his visit to Colombia proves before it has officially begun. According to the AP, "A dozen Secret Service agents sent to Colombia to provide security for President Barack Obama at an international summit have been relieved of duty because of allegations of misconduct." Relieved here being a perfectly randomly selected verb. Because according to a tip received by The Associated Press "the misconduct involved prostitutes in Cartagena, Colombia, the site of the Summit of the Americas. A Secret Service spokesman did not dispute that allegation." Or, as Goldman would call it, an "AsSymmetric (Secret) Servicing Initiative" where much more than just inside information is leasked. Unfortunately, while he may be far more successful in generating jobs in Latin America than domestically, even those jobs have proven to be quite transitory, just like virtually all quickie temp jobs "created or saved" in the US in the past several years. Furthermore, just like in the US, we doubt that the incremental wealth benefits willtrickle down to the local population. After all, unlike in the US, endogenous Colombian liquidity may be abundant everywhere but certainly not at the central bank, which is far, far tighter at a rate of 5.25% (and rising), compared to extra loosecentral planners the "developed" world over.
More on tomorrow's watercooler talk:
A U.S. official, who was not authorized to speak publicly on the matter and requested anonymity, put the number of agents at 12. The agency was not releasing the number of personnel involved.The Washington Post reported that Jon Adler, president of the Federal Law Enforcement Officers Association, said the accusations related to at least one agent having involvement with prostitutes in Cartagena. The association represents federal law enforcement officers, including the Secret Service.Ronald Kessler, a former Post reporter and the author of a book about the Secret Service, told the Post that he had learned that 12 agents were involved, several of them married.The incident threatened to overshadow Obama's economic and trade agenda at the summit and embarrass the U.S. The White House had no comment.
And no, Obama was not among those directly subsidizing the oldest profession in Colombia.
Donovan said the allegations of misconduct were related to activity before the president's arrival Friday night.Obama was attending a leaders' dinner Friday night at Cartagena's historic Spanish fortress. He was due to attend summit meetings with regional leaders Saturday and Sunday.
Ironically enough, in traditional economic canon, a transaction spillover, occurs in the context of an externality, not internalities. Perhaps all this Neo-Keynesian gibberish really was true all along...
All joking aside, here is how Politico framed the 5 political benefits (with or without friends) that the Colombian visit was supposed to embiggen. We can probably trim that list to one: endless humor for the late night stand-up comedy circuit as well as hours of rhetorical poetry waxing by Obama's political adversaries.