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bp1970
New Member
5 Posts |
 Posted - 04/02/2009 : 16:29:01
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who wants to know about the G20 summit,really american are the best
Moved thread to politics folder. Deleted redundant OP's started on the same subject.
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HalfMooner
Dingaling
Philippines
15831 Posts |
Posted - 04/02/2009 : 16:31:41 [Permalink]
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Originally posted by bp1970
who wants to know about the G20 summit,really american are the best
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Uh, yeah, the very best.
Welcome to SFN, bp1970!
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“Biology is just physics that has begun to smell bad.” —HalfMooner
Here's a link to Moonscape News, and one to its Archive. |
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filthy
SFN Die Hard
USA
14408 Posts |
Posted - 04/02/2009 : 16:34:29 [Permalink]
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Originally posted by bp1970
who wants to know about the G20 summit,really american are the best
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Sure, why not? What's your take on it?
And welcome to SFN!
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"What luck for rulers that men do not think." -- Adolf Hitler (1889 - 1945)
"If only we could impeach on the basis of criminal stupidity, 90% of the Rethuglicans and half of the Democrats would be thrown out of office." ~~ P.Z. Myres
"The default position of human nature is to punch the other guy in the face and take his stuff." ~~ Dude
Brother Boot Knife of Warm Humanitarianism,
and Crypto-Communist! 
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tomk80
SFN Regular
Netherlands
1278 Posts |
Posted - 04/03/2009 : 03:14:49 [Permalink]
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Originally posted by filthy
Originally posted by bp1970
who wants to know about the G20 summit,really american are the best
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Sure, why not? What's your take on it?
And welcome to SFN!
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There was a very interesting discussion on this yesterday on the dutch television. A bunch of economists explained a bit more about the recovery plans. There verdict was that current plans do not provide solutions, only a stay of the coming execution.
Basically, current economic plans for increased spending from the US and UK specifically (although other countries do the same to a lesser extent) lend more money. This money is coming from states that have large savings, for example China and Germany. This is a continuation of economic policies of the last decade or more. Basically, the US and UK are living on credit supplied by countries like Germany and China. This is a strange position, where the richest countries on earth borrow money from the developing countries, you'd actually "want" or at least expect this to be reversed. During the G20 Germany and China had the position that there should be more focus on savings, while the US and UK thought there should be more spending. This point was left almost undiscussed in the G20, but will need to be resolved at some point.
The Netherlands currently also increases spending (and thus lending), but the current administration also has a plan in place for decreasing debt as soon as the current crisis is over (although admittedly one that largely (conveniently?) take effect in the period for the next administration). One of the main complaints of the economists there was that while the US needs to have a similar, more detailed plan in place to go from a "credit-economy" to a "debit-economy".
It seems to me that this is hampered in the US due to an inability to properly discuss taxation. Ideas from you guys?
In reply to the OP. While the US may be a great nation on many fronts, it seems to me that on the economic front the US is like an idiot debtor who doesn't understand that what you loan from a person at one point, needs to be paid back at another point, with a bankrupty as the only inevitable consequence (note that I've been saying this form the past 10 years). I think this starts with the large use of credit cards in the US instead of debit cards and gets worse from there. In that sense Obama's plans disappoint me because it again contains 37% tax cuts. Point being that you can't reduce taxes, you don't have the money for it! |
Tom
`Contrariwise,' continued Tweedledee, `if it was so, it might be; and if it were so, it would be; but as it isn't, it ain't. That's logic.'
-Through the Looking Glass by Lewis Caroll- |
| Edited by - tomk80 on 04/03/2009 03:25:14 |
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G20 summit.
