G-20 Summit
Although the indices won`t reflect the extent of the positive outcome with all the bad news on the horizon the positive results will push markets to find a higher bottom sooner. We should see the short side exercise a little more caution and play each news piece by issue rather than bulk up.
It`s a good start to a global solution so any info on possibilities will hasten the higher bottom.
Under the circumstances I`m weighing it in as a good news story. I believe a little more hope in a global strategy to ward off future bad news stories is warranted, good on ya.
posted by voxpopuli | 2:52 PM
5 Comments:
The world leaders certainly have a historic opportunity to change the world.
Sarkozy said the world cannot continue with "business as usual" and cautioned the rich against "sacrificing" the poor while looking for solutions to an "unprecedented financial crisis."
A global transportation makeover lifting the poor will benefit the developing and developed countries. Should world leaders step and change the world it will be millennia before another comparable event such as cities in space numbering over 1 million emerges.
The`ve got my support, yours?
http://www.iht.com/articles/ap/2008/11/29/news/ML-G20-Summit-Sarkozy.php
November 29, 2008
Qatar: French President Nicolas Sarkozy says the global economic crisis is an opportunity to "change the world" and raise developing nations out of poverty.
Yes Poppavox, that has my support, no wonder Rush Limbaugh's having a fit! SO what do you think of '21st Century Socialism' as THE answer to the failures of Capitalism'? That is being expressed there. I like Sarkozy-what he is saying. Talk is cheap. I liked Blagojevich for quoting poets. I liked James Trafficant, what does that tell you? Cult of personality, I guess? I'm wary, anymore. PS~I am not on familiar terms w/this computer. E-mailing is an expedition!...take care!
Gday Linda
"SO what do you think of '21st Century Socialism' as THE answer to the failures of Capitalism'"
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I think the facts speak for themselves. As a measure of success the socialist side of the register look meager in all leading indicators. A key indicator, even before the boom in China capitalism lifted twice as many people out of poverty than socialism. Currently it looks like future economic conditions will leave a bigger mark on the socialist countries than the more capitalist countries.
The basic problem continues to be consumers have outspent their ability to pay. While savings rates are increasing in the US amount saved, even if spent now, would not keep the global economy going. Nor will governments creating jobs with public money (socialism) be near enough.
http://biz.yahoo.com/ap/090201/davos_forum.html
"Nobel Peace Prize winner Muhammad Yunus, founder of the Grameen Bank in Bangladesh and the father of microcredit, saw a silver lining in the financial crisis.
"This is the greatest moment we have because things need to be changed, it's as simple as that. We don't want to go back to the same normalcy that we're coming from. We will create a new normalcy which will stay and keep on moving and change the world.""
poppavox
I grew up in the mining industry, certainly a boom or bust and move on attitude. Many mines have gone boom then bust but the mining industry lives on. Capitalism has been around since a few surplus arrows were traded for a spear, I think it`s a little premature to called capitalism failed or even close to the point where it needs to be replaced with an ideology.
As Nobel winner Muhammad Yunus said "We will create a new normalcy which will stay and keep on moving and change the world"
Globalism as the new normalcy is having a few problems and it`s not capitalism per se but capitalism driven beyond anything normal but only the next quarters numbers. The task of channeling the global economy past global politics likely won`t happen before WW3. A host of issues on globalism including sovereignty are not discussing well. As I`ve suggested further back a main advantage of the prosed maglev is to have the infrastructure for sustainable national revenue to both private and public sectors. Governments around the world would be more open to discussing global possibilities having a structured national source of revenue.
Linda,
To clarify "The basic problem continues to be consumers have outspent their ability to pay"
Todays situation is a continuation of the following posted last September and yet we continue to get denial. That the credit crunch is a lack of cash when in fact its a lack of spending ability by global consumers.
There are several options, the bandaids currently prosed globally including the Obama $1T stimulus will not replace global consumer spending so we can go through many years of depression that could become worse than the 30`s even with a full box of bandaids.
We could face years of global conflict escalating to WW3 out of desperation. We can initiate a global transportation makeover using maglev.
The options to date are that limited.
Robert
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http://www.garth.ca/weblog/2008/09/14/the-issues-1/#comment-173017
Provide a link to support your claims or keep your BS to yourself.
Thanks.
By Reefer Sutherland from the Big Smoke on 09.15.08 12:55 pm
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Forget Lehman, here`s the real story about global demand for products and consequently demand for our resources.
Currently 57% of Cdns put the economy as #1 issue, with not a plan in sight. My prediction about 30M really pissed off Cdns takes a step closer to becoming a reality.
Better not delay the election till after our August numbers are out, none of the above will landslide it.
***note, we had the lowest voter turnout (none of the above) in federal election history before the August numbers were made public, February 03, 2009***
http://biz.yahoo.com/ap/080915/economy.html
U.S. industrial output drops worse-than-expected 1.1 per cent
Mon Sep 15, 9:38 AMThe Associated Press
WASHINGTON - U.S. government data show the nation's industrial output plunged in August by nearly four times the amount that had been expected.
pressure in coming months as some of America's biggest overseas markets in Europe and Asia face the threat of recessions.
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http://www.theglobeandmail.com/servlet/story/RTGAM.20080915.welxnmarkets0915/BNStory/politics/home
Harper unfazed by market crisis
Globe and Mail Update
September 15, 2008 at 12:52 PM EDT
"My own belief is if we were gong to have some kind of big crash or recession, we probably would have had it by now."
** It would have if the 40/0 hadn`t keep the housing bubble going.**
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Does `our economy is on thin ice`, `cash is good`, `the August numbers will get crushed`, `the melt is on` ring any bells?
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