the real sad truth of the G20 summit (2009, free market, status)

[floridasandy]

The party that can’t come to grips with the way the rules of the game have changed is the US and Mr. Klueless Krugman! The US cannot print money to make up for our loss of industrial base and world trade. We will soon find out that the Chinese wish to consume at least 20% of world resources since they are 20% of the world’s population. And the US now consumes 20% while having only 3-4% of the world’s population. This is what is going to change, fast.


At the end of a summit in London, policy makers from the Group of 20 yesterday delivered a regulatory blueprint that French President Nicholas Sarkozy said turned the page on the Anglo-Saxon model of free markets by placing stricter limits on hedge funds and other financiers. The leaders also pledged to triple the resources of the International Monetary Fund and to hand China and other developing economies a greater say in the management of the world economy. They are not simply agreeing to give China more power, they must do this since China has this thing called ‘Sovereign wealth’ which the US has absolutely $0 in sovereign wealth. We don’t even have a real FOREX holding, either! Germany’s FOREX holdings are doubled the US. Ditto,their gold reserves. China’s FOREX dwarfs the US. The US is around $72 billion and China’s is around $2 trillion.

Meanwhile, the G20 meeting ended with lots of promises that can’t be filled due to the fact, the US is insolvent. Everyone hopes to have the previous status quo return. It is gone forever.

read the entire article here:
http://emsnews.wordpress.com/2009/04/

[ViewFromThePeak]

Originally Posted by floridasandy

The party that can’t come to grips with the way the rules of the game have changed is the US and Mr. Klueless Krugman! The US cannot print money to make up for our loss of industrial base and world trade. We will soon find out that the Chinese wish to consume at least 20% of world resources since they are 20% of the world’s population. And the US now consumes 20% while having only 3-4% of the world’s population. This is what is going to change, fast.


At the end of a summit in London, policy makers from the Group of 20 yesterday delivered a regulatory blueprint that French President Nicholas Sarkozy said turned the page on the Anglo-Saxon model of free markets by placing stricter limits on hedge funds and other financiers. The leaders also pledged to triple the resources of the International Monetary Fund and to hand China and other developing economies a greater say in the management of the world economy. They are not simply agreeing to give China more power, they must do this since China has this thing called ‘Sovereign wealth’ which the US has absolutely $0 in sovereign wealth. We don’t even have a real FOREX holding, either! Germany’s FOREX holdings are doubled the US. Ditto,their gold reserves. China’s FOREX dwarfs the US. The US is around $72 billion and China’s is around $2 trillion.

Meanwhile, the G20 meeting ended with lots of promises that can’t be filled due to the fact, the US is insolvent. Everyone hopes to have the previous status quo return. It is gone forever.

read the entire article here:
2009 April « Culture of Life News

The sad truth is that Keynesian retards salivate over Krugman because of his recent Nobel Prize, in an UNRELATED SUBJECT.

[HappyTexan]

But there was so much more important items for the MSM to report on then details of the G20 meeting...
-Michelle Obama's dress
-"Queen touching"
-etiquette of bowing
-who bowed to who

We don't need the supermarket rags anymore..the trash has moved to the MSM.
And the sad part is most Americans won't dig deeper to find out for themselves what went on at the G20 and how this will effect the US.

[killer2021]

interesting read. Thanks and I agree.