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World agrees not to endanger The Recovery

Gordon Brown, for all his faults, is usually right when it comes to macroeconomics. With hindsight, it is clear that the G20 summit he hastily organised in London last April really did mark the turning point in the global financial crisis, as he said it would. So in their follow-up meeting in London over the weekend, the G20 finance ministers could look back with reasonable satisfaction on achieving three of the four main objectives they set last April.

First and foremost, they saved the world economy with unprecedented fiscal and monetary stimulus. Second, they saved the major banks with unprecedented government guarantees. Third, they saved the most vulnerable countries — such as Greece, Portugal, Spain, Hungary, Latvia and Ireland — with unprecedented international bailouts, financed by the European Central Bank (ECB) and the IMF. The fourth objective was to save the global financial system from another catastrophe, and the regulatory issues relating to this aim, especially bank remuneration policies and capital requirements, were the focus of media attention over the weekend. But before getting too cynical about relatively minor disagreements on such secondary issues as bonuses, it is worth seeing how much consensus has been reached on the far bigger issues of monetary and fiscal policy.
http://www.timesonline.co.uk/tol/comment/columnists/article6824036.ece#cid=OTC-RSS&attr=1185799

This is a very interesting read.
“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.

Belief in myths allows the comfort of opinion without the discomfort of thought.”

-- President John F. Kennedy”
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Comments

  • Graham_Devon
    Graham_Devon Posts: 58,560 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    Hamish, would you like your own thread created so you can cut and paste newspaper articles in there, telling us all over and over again so we may actually start to believe it, that we are recovering?

    You are taking over the board with all these cut and pastes!!
  • PT Barnum would have loved you.

    :rotfl:

    Your trolling is bordering on obsession now.

    Well done.:T
    “The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.

    Belief in myths allows the comfort of opinion without the discomfort of thought.”

    -- President John F. Kennedy”
  • Really2
    Really2 Posts: 12,397 Forumite
    10,000 Posts Combo Breaker
    Hamish, would you like your own thread created so you can cut and paste newspaper articles in there, telling us all over and over again so we may actually start to believe it, that we are recovering?

    You are taking over the board with all these cut and pastes!!

    It seemed ok for most when the crash was happening.:confused:
  • Really2 wrote: »
    It seemed ok for most when the crash was happening.:confused:

    Indeed, when there were bad news stories out there the boards were flooded by the gloomers.

    Now that the economy is recovering and theres lots of good news to report, they want censorship.

    Sad really.
    “The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.

    Belief in myths allows the comfort of opinion without the discomfort of thought.”

    -- President John F. Kennedy”
  • b0rker
    b0rker Posts: 479 Forumite
    Indeed, when there were bad news stories out there the boards were flooded by the gloomers.

    Now that the economy is recovering and theres lots of good news to report, they want censorship.

    Sad really.

    Keep it up Haime,

    It saves me the bother of having to trawl the web for these stories myself.

    B0rker
  • b0rker wrote: »
    Keep it up Haime,

    It saves me the bother of having to trawl the web for these stories myself.

    B0rker

    A good forum should have a number of topical news items related to the board topic on discussion at any given time.
    “The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.

    Belief in myths allows the comfort of opinion without the discomfort of thought.”

    -- President John F. Kennedy”
  • treliac
    treliac Posts: 4,524 Forumite
    Indeed, when there were bad news stories out there the boards were flooded by the gloomers.

    Now that the economy is recovering and theres lots of good news to report, they want censorship.

    Sad really.

    The very title, 'World agrees not to ...' implies artificial manipulation against the natural order of things. It's not economic recovery to my mind.
  • wageslave
    wageslave Posts: 2,638 Forumite
    A good forum should have a number of topical news items related to the board topic on discussion at any given time.
    Yes it should, Hamish.
    Just ignore them, they haven't yet come to appreciate you as I have:kisses2:
    Retail is the only therapy that works
  • macaque_2
    macaque_2 Posts: 2,439 Forumite
    Gordon Brown, for all his faults, is usually right when it comes to macroeconomics.

    Why would Anatoly Kaletsky start his article with such a flattering remark about Gordon? The near meltdown of the banking system must qualify as a macro economic problem of biblical proportions. Gordon held the economic tiller for the entire decade leading up to the biggest economic banana skin in history. I wonder if journalists ever suck up to political leaders in the hope of a gong?
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