Posted on 11/16/2008 5:16:07 AM PST by TigerLikesRooster
The G20: Who is there and how desperate are they?
Ed Pilkington
The Guardian, Saturday November 15 2008
Argentina - $150bn public debt
Attending: Cristina Fernandez de Kirchner, president
Argentina last month decided to nationalise its 10 largest private pension funds, taking $30bn of assets into public ownership. Shares then lost a fifth of their value in two days. Argentina defaulted on its debts in 2001 and investors fear it may do so again.
Desperation rating: Five stars
Australia - $141bn public debt
Kevin Rudd, prime minister
Australia has eliminated net public debt but runs a gross one of about 15% of GDP. Tough regulation meant its banks had little exposure to the US subprime mortgage market but the fall in commodity prices is hurting. Australia could face recession next year.
Desperation rating: Three stars
Brazil - $590bn public debt
Luiz Inacio Lula da Silva, president
Brazil's economy is growing at 5% this year but is expected to slow sharply next year. Central bank is making credit available to help firms boost sales and it has intervened in the market to meet demand for the US dollar.
Desperation rating: Three stars
Canada - $900bn public debt
Stephen Harper, prime minister
The Bank of Canada warned that growth would hit zero next year. Weaker oil prices and lower US demand are hurting Canada. Last month, it guaranteed bank lending in a move that could leave the taxpayer liable for up to US$175bn.
Desperation rating: Four stars
China - $580bn public debt
Hu Jintao, president
China is taking a big spending $586bn approach as industrial growth hits a seven-year low. As holder of the world's largest foreign exchange reserves ($1,900bn) China is under pressure to aid global finances but stands to be the biggest winner from the crisis.
Desperation rating: Three stars
(Excerpt) Read more at guardian.co.uk ...
Ping!
The globe faces a melt down and they had relied on the US dollar to keep THEIR economies afloat, and now WE have our own, brang, spankin' new Socialist president elect.
So go 'head, @$$holes ... tell us how we screwed YOU, but we now have a good lookin' black socialist and everything will be alright now.
For now, they are more elated that they can regulate economy once again(more regulation than needed) and bring back their old socialist program in the process.
Keynesian economic policy, social welfare, and heavy taxing of business. However, there is no money to bankroll all these. Credit is pretty much tapped out on all fronts. Liberals want to take care of it as they did in 30's but the game is different while the severity and some symptom may be not. We do not have no credit reserve to reach in.
Obama is to Western Left as what Gorbachev was to Soviet Communist Party. One big euphoria of renewal until final descent into oblivion.
On a more prosaic topic, the movement of these jokers between their downtown DC hotels, embassies, the State Dept., and the White House, helped to cause massive traffic jams on Friday evening.
It was very annoying that in addition to the rain and the total Friday afternoon gridlock, they chose *DC’s rush hour* to move around in their motorcades escorted by large packs of DC and federal police cars. So with sirens screaming and lights flashing they closed down major commuting intersections and made the gridlock much worse than it normally is.
There’s nothing like discretion and a low profile /sarc
I drove into town early yesterday (Saturday) morning and of course the traffic was nil, but there was an obvious and heavy security presence at the places one would expect to see that. State was one such place, and I only mention that because the press was also there in force, so it’s no big secret.
I hope you are right.
This morning watching the BBC coverage of the summit, the light bulb came on. The new effort for a global banking system is why the media was so in the tank to help elect BO.
The photo of BO in an airport with a book in his hand about the Post American World, also is revealing.
He is Marxist, born & bred.
The U.S. will not go gently under the yoke of an International government.
The problem is that the rest of the world is not bound by religious and moral values like the U.S. was. Those values are still present in the U.S. but diminished. This is why an international government will be such a failure and tragedy. This election indicated to me a tipping point here.
If the backlash to coming policies are strong enough, we might be able to resist this. If not, we are in deep doo. (as is the world)
One thing good about U.S. is that Americans do not suck it up to measly literary figures pontificating their stupid political agenda(this is what happens in France everyday.) Literary skill does not guarantee deep insight to human society or life. It is more likely a pretty warped-up view of human condition. Their vision never verified or tested in the real world. People who are never get out of their ultra-sheltered mindset cannot say anything useful about running somebody else's life.
It is a price to pay for living in DC. Akin to those who used to live near royal palace in old times. They have to kneel and pay respect every time procession of some big shot passes by.
Your only hope is that something trickles down to you from royal treasury in some way, when you live next to royal palace.:-)
Bingo! You are right.
It has always been about “freedom” or “compulsion”. This is the essence of the battle. Truth or lies, darkness or light, freedom or slavery.
—
Republican Democracy = freedom of choice
Christianity = freedom of choice
Islam not= freedom
Totalitarianism not= Freedom
Totalitarianism = Communism/Marxism/Liberalism
Problem, how do we reverse voting to suspend Freedom in the Nov. 4th election?
Agree - see my tagline. :) To get enough votes to actually win, Obama had to campaign on conservative principles, to wit: “95% of Americans will get a tax cut. ...“
From the category, “Never write a check with your mouth that your ass can’t cash”, we have this gem:
Democrat Stenny Hoyer: "Don't count on Obama delivering on promises." CNN News Live | 11/10/08
Thomas Sowell: "Intellectuals"
Like this:
"It does not take a majority to prevail... but rather an irate, tireless minority, keen on setting brushfires of freedom in the minds of men." ~Samuel Adams
Well said.
My wife survived 8 years during the Clintonista era of my swearing and muttering at the few glimpses of TV that I had to watch. She is a TV junkie, likes the noise, and I hate it.
For the 8 years of W, I have been almost totally disinterested in Politics. Did not feel compelled to study the events and ponder the outcome.
That is all over, again. Total Deja View.
I think this is the most critical time in my lifetime, politically. I do not wish to be involved, have enough personal issues, but none the less I am very motivated to contribute my part to dealing with this battle.
When they are done this weekend, nothing will have been accomplished but the seeds of a One World Order will be sewn. By next Spring when we are all much deeper into recession then they will start discussing a three or four world monies system.
I wonder who will stand and say we need the new Amero dollar to rectify the financial difficulties of Canada, the US and Mexico. Will it be the Messiah himself?
“Never write a check with your mouth ...........
Haven’t heard that one in years.
Probably Paulson, as he is already coming out and saying how embarrassing we Americans are. We don’t deserve our own currency, in his mind.
I wonder if there is anywhere in the world that a group of freedom loving Christian patriots could set up shop in. I mean buy the land from a country and establish a new country.
It’s getting ridiculous living here...the enemy has taken over.
Setting up a zone stretching from Western Canada (Vancouver excluded) to American heartland, to gulf coast, excluding both coasts.
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