11/17/08

Debt Rattle, November 16 2008: Everybody Now!

Ilargi: Now the G20 meeting is finished, we see confirmed once more what I've said all along: the whole circus was an emtpy charade from the start, and nothing was achieved. Except perhaps for one notion that stands out: the vast majority of so-called leaders (isn't that a title you need work to deserve?) understand that it's everybody for himself.

The best illustration of this is provided by the fact that all participants agreed that a lot of studying and talking is left to do, before they meet again. Which is supposed to be in April 2009 (?!). That’s half a year away. Until then, the world will supposedly stand still. May I suggest you look back 6 months, to April of this year? Try some of the media headlines in those days. It'll give you a good indication of how much change can occur in such a relatively short period, and how useless therefore an agreement like this is.

Peacenik watched the Sunday morning talking heads, went to the mall, did some shopping, and everything seemed "normal". The talking heads were more interested in Obama's new dog than they were in the G20 meeting. Lots of bonhomie. The mall was busy. The liquor store was busy. People enjoyed the Santa Claus parade. Meanwhile the economy continues to evaporate. While the ideologues argue about whether or not to save GM, GM is vaporizing. Peacenik thinks all this is very weird. It should be an interesting week.