Tuesday, March 31, 2009

G20

This week the leaders of 19 most industrialised nations (plus the EU) meet in London to figure how to get out of the Great Depression Two. In Britain commentators suggest this is Prime Minister Gordon Brown's attempt to boost his poll numbers to permit re-election. In the rest of the world we hear commentators hoping that something more than a gab fest will come out of this meeting. I doubt that will happen. These very important photo-op people have devoted but seven hours to talk about how to fix the planet. That's an average of 20 minutes per leader. What a farce.
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Already French President Nicholas Sarkozy has let it be known that if the US and the UK don't immediately buckle to his views on how to fix the world economy he's opting out of the sand box...Russia and China who are busy signing trade agreements to create their own private economic sphere have both announced they want a basket of currencies to represent world trade through the IMF. They want the dollar gone as the world reserve currency and despite published reports to the contrary US leaders do oppose that suggestion. We would be reduced to third world status instantly when that happens.
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These are early days yet for this Depression and the worst is yet to come but in what form we can only guess. The posturing and anger from all the world's leaders suggest they still don't realise how bad things are going to be, they act as though fundamentally it's business as usual and that attitude will make it all much worse. History shows that to be the case. I watch and wonder how it is that these people are the best the world can produce to lead us all. I keep hoping that after the financial systenm hits rock bottom we can somehow find our way out to a better way of working together. But not with these clods in charge.

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