Posted on 03/09/2009 12:12:00 AM PDT by jessduntno
WASHINGTON -- The U.S. will press world leaders to boost emergency government spending to lift the global economy, risking a rift with European nations more concerned with revamping financial regulation.
Washington's focus is at odds with France, Germany and other European nations that want the Group of 20 summit on April 2 to focus on rewriting rules governing financial markets. These nations say lax regulation was a major cause of the financial crisis and want to tighten their grip on hedge funds and private-equity firms.
Expectations of the summit are high: A coordinated response is seen as critical so each government's efforts reinforce, rather than impede, the efforts of others.
Britain also may have an easier time seeing eye-to-eye with the U.S. than other European countries because both London and Washington are concerned that tighter financial regulation could harm their financial centers. Administration officials also say the G-20 isn't ready to put new regulations in place, so focusing in that area would be counterproductive.
The U.S., relying on a thinly staffed Treasury department, hasn't completed its plan to revise financial regulation, which ultimately needs congressional approval. Others in the G-20, which includes industrialized and developing nations, also need months to put new rules in place.
The shift in priorities urged by the U.S. is especially at odds with Germany, which has tried hard to balance its books in recent years. In January, Germany approved a €50 billion ($63.19 billion) stimulus. But Chancellor Angela Merkel has expressed skepticism about using heavy borrowing to solve a global crisis she says was caused by irresponsible behavior from private-sector players and governments alike.
(Excerpt) Read more at online.wsj.com ...
HAHAHAHAHAHAHAHAHAHAHAHA...
The morons in Washington think so, the vast majority of them don't know where wealth comes from much less how to produce it.
Words fail...
Oh, great suggestion O-man! Yeah, let’s EVERYBODY around the globe tax-and-spend our citizens into poverty and the arms of socialism. God forbid some other nation should adopt Reaganomics to pull itself out of the muck. Would make the O-man look pretty bad, wouldn’t it?
Ah don’t worry this Admin will just go to China and Borrow more money to give to the WORLD!!!!!!!!!!!!!!!!!!!! and guess who will pay for it!
The people who are supposed to be in charge do not understand basic economics.
The only thing the average person can now do is stock up on food, basic necessities, guns and ammunition.
The ship is sinking and nobody is in charge. We are all going down with the ship.
Does anyone have anything substantial that came out of the G-20 Meeting that took place on Nov. 15th, 2008. All I keep reading about are the “new regulations,” but what do they mean? How are they changing?
I see so many points and dots that are wanting to be connected,
Pray for a complete, impossible-to-conceal mental, emotional, physical breakdown that will force Soetoro to retire.
Well, maybe we can create some “Earth Tbills” and convince Jupiter to buy them!
This regime is not simply socialist, they are purely fascist.
Isn’t that a terrible feeling? When you reach the tipping point of hope that the ship will make it to port, or that another ship will come along at the last minute but you realise that it’s not and you are just stuck sinking?
That is literally how I feel watching the news reports and the idiocy that is our government.
And I try to think, maybe I should go back to being stupid. Maybe I should just not watch the news, not read the papers or internet news sites and just live in ignorant bliss. But then I fear I’ll get sideswiped.
It’s a conundrum, that’s for sure.
Globally fascist, to boot.
At some point, things could get so bad that the entire world will be clamoring for the UN and the international financial administrators (IMF, World Bank) to step in. Even in global bankruptcy, there will be some money/commodities available and the UN will suck it all in and the IMF, etc will force its redistribution. I fully expect to see blue helmeted peacekeepers in every major nation trying to control riots, distribute food and deal with severe energy shortages. They will make things worse.
If what we are living was a science fiction dystopia, the publishers would reject it as too much of a reach.
The U.S. will press world leaders to boost emergency government spending,come on guys let us all go broke at once I don’t to look like bigger idiot than I already r.
Resource material here:
BIS Quarterly Review, December 2008 ( Global Financial Information )
AND
IMF Urges Global Financial Rules
And
Marketwatch has a little note:
White House's Summers argues for global stimulus
************************EXCERPT**************************
LONDON (MarketWatch) -- Increased spending by governments around the world is more important in the short term than dealing with the global imbalances thought to be at the root of the global financial crisis, top White House economic adviser Lawrence Summers said in an interview with the Financial Times published Monday
Summers calls for boost to demand ( For the Global Economy )
Thanks Ernest. Have a great day, all.
[Obama’s top economic adviser Lawrence] Summers calls for boost to demand
(For the Global Economy)
Fianancial Times | March 8 2009 22:03 | Last updated: March 8 2009 22:03 | Edward Luce and Chrystia Freeland in Washington
Posted on 03/09/2009 10:07:21 AM PDT by Ernest_at_the_Beach
http://www.freerepublic.com/focus/f-news/2202602/posts
These next few months will be interesting...yep...
Perhaps due to the diverse economies and populations within the G20 they will just end up doing a lot of wining and dinning and achieve nothing. If so, perhaps we will not get the short end of the stick.
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