The immeidate concern of those who like this deal are political and national.  There was a time when foreign takeovers of US assets caused national debate.  While the degree of that concern has clearly dissipated over the decades, such a high profile takeover of a national brand is likely to draw unusual scrutiny by todays standards.

Those in the media, led by CNBC (CNBC has been a front runner in the effort to convince their viewers there isn’t a US economy anymore, there is only a global economy), are quick to jump out in front to tamp down nationalistic concerns through derision by using terms like xenophobic and jingoism to describe sentiments that might lead to objections, and explaining how nationalism has no place in the debate about the efficient allocation of financial resources across the globe. 

This morning, CNBC Squawk Box anchor Joe Kernan (one of the few apparent right leaning anchors on CNBC’s air), towards the end of his discussion with his on-air colleague David Faber (who has long been on the side of those who have no problem with foreign takeovers of US assets), about national concerns related to the takeover asked David, , “…aren’t you proud of your country?”  To which David responded, “…country (pause), I’m a New Yorker, I’m proud of my city.”

A telling comment.  David was unable or unwilling to express pride in his country when given the chance.

One Worlders and Global Governance advocates are smiling today.  Their dream of the elimination of national borders and related nationalism requires the US to lead the way, and they’ve been working on it for decades.  Broad sections of the US economy are already under control of foreign nationals. This deal takes One Worlders another step forward.

For those who desire to be proud of America, this takeover is another disappointing development and somewhat saddening.  The point of no return approaches.

In the face of evidence that a weakened American continues to be picked over by foreign nationals comes the Obama Administration’s 2012 budget.  Higher spending, higher taxes.  Are they paying attention?  There is a connection between the Deutsche Boerse takeover of the NYSE and our national debt and deficits.  Both reveal signs of weakness.

A $14 trillion debt, and still we have federal budgets being proposed with a plus sign instead of a negative sign in front of the growth rate.  How can that be?  The proposed budget increases spending 8 percent over 2010 levels.  The deficit for 2012 is projected to be $1.65 trillion, higher than the deficit in 2010.  This is not the budget of a President dedicated to making America stronger.

For those who desire to be proud of America, this budget is another disappointing development and somewhat saddening.  The point of no return approaches.

No American in position of authority will step in to block the Deutsche Boerse takeover of the NYSE.  Will there be enough proud Americans in Congress to block another federal budget that again raises spending?

I’m hopeful, though not optimistic.

Anyway, not a great day for those who like to be proud of America.  One of those days you don’t want to turn on the news.