The G-20 Pittsburgh Summit ended last Friday. Their official statements made for some novel and interesting reading.Advertisement
We were informed that the group could by working together could manage a transition to a more balanced pattern of global growth. Tending to domestic demand as private savings increase. It is obvious to us this cannot work. We are seeing increased savings and decreased consumption. The IMF as well agrees with these policies. We cannot recall that the IMF has made a correct decision over the past 50 years. The group gushed forth the same platitudes we’ve heard for years. The shared understanding and deepened dialogue that produces no solutions, only more power and wealth for the entrenched elite. Full article here
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