Archive for January 8th, 2009
Understanding Central Banks
Do check out the video on Steel Phoenix’s latest post at “What is the Ideal Value of the Dollar in Today’s world?” It would be a shame to miss it. ◄Dave►
New Capitalism?
While America’s news organizations are salivating over Obama’s big speech promising that we will “spend” our way out of this, who is paying attention to what the Europeans are busy doing today? Take a peek at “Sarkozy, Merkel, Blair call for new capitalism“:
PARIS – The head of Europe’s biggest economy said Thursday that world leaders should be looking at the massive U.S. deficit and other economic imbalances, not just problems caused by financial markets, as they debate a new global order…
Merkel said the International Monetary Fund has not managed to regulate global capitalism, and she called for the creation of an economy body at the United Nations, similar to the Security Council, to judge government policy.
French President Nicolas Sarkozy, …called financial capitalism based on speculation “an immoral system” that has “perverted the logic of capitalism.”
“It’s a system where wealth goes to the wealthy, where work is devalued, where production is devalued, where entrepreneurial spirit is devalued,” he said.
But no more: “In capitalism of the 21st century, there is room for the state,” he said…
Measures will be taken by global leaders meeting in London on April 2, Sarkozy promised, urging the U.S. to join the international consensus.
Blair called for a new financial order based on “values other than the maximum short-term profit.”
(bold emphasis mine)
Be afraid. Be very very afraid. The Obamessiah will be all for this globaloney. The timing of his speech today may have very well been to keep our press busy and this global agenda out of the news. ◄Dave►
