Black People Politics : OBAMA and the G-20 plan

Discussion in 'Black People Politics' started by $$RICH$$, Jun 27, 2010.

  1. $$RICH$$

    $$RICH$$ Lyon King Admin. STAFF

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    Obama Says G-20 Produced Important Progress

    Wary of slamming on the stimulus brakes too quickly but shaken by the European debt crisis, world leaders pledged Sunday to reduce government deficits in richer countries in half by 2013, with wiggle room to meet the goal.

    Leaders of 20 major industrial and developing countries generally sided with cutting spending and raising taxes, despite warnings from President Barack Obama that too much austerity too quickly could choke off the global recovery.

    "Serious challenges remain," they cautioned in a closing statement. "While growth is returning, the recovery is uneven and fragile, unemployment in many countries remains at unacceptable levels, and the social impact of the crisis is still widely felt," according to the document from the Group of 20 major industrial and developing nations.

    Obama told a news conference he was satisfied with the outcome, saying he recognized that countries had to proceed at their own pace in either emphasizing growth or budget austerity.

    "We can't all rush to the exits at the same time," Obama said after three days of economic summitry.

    Summit participants navigated a careful course between Obama's emphasis on growth and fellow leaders such as German Chancellor Angela Merkel who advocated spending cuts and even tax increases.

    "Advanced economies have committed to fiscal plans that will at least halve deficits by 2013 and stabilize or reduce government debt-to-GDP ratios by 2016," according to the statement. The gross domestic product, or GDP, measures the value of all goods and services, and is considered the best gauge of economic health.

    At the same time, the statement called for following through on "existing stimulus plans," heeding Obama's concerns.

    Japan was given an exemption from meeting the debt targets because of years of a stagnant economy, and the fact that its huge debt is largely owned by Japanese and not overseas investors.

    get the full story here............................

    Will this lead to economy relief and better the hardship we now face worldwide ??
    is there a change ahead or will we contunie to fall under the hardship and struggle to survive.?
    http://www.aolnews.com/world/article/obama-says-g-20-summit-produced-important-progress/19532889?icid=main|htmlws-main-w|dl1|link3|http%3A%2F%2Fwww.aolnews.com%2Fworld%2Farticle%2Fobama-says-g-20-summit-produced-important-progress%2F19532889




     
  2. Ankhur

    Ankhur Well-Known Member MEMBER

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    With all due respect the protests of the WTO meetings, G8 meeting s and G20 meetings are the outrage of
    folks all over the world tired of seeing CIA man George Bush's dream of the New World Order global dictatorship become tweeked improved and implemented,
    a form of dictatorship, made from an old boys network, of white supremists coming from,

    1 Chatham House
    2 Tavistock
    3 The Pilgrim's Society
    4 The Bilderberg Group
    5 the Knights od St John
    6 the Knights of Malta
    7 The Trilateral Commision
    8 the Council on Foreign Relations
    9 and theClub of Rome

    without any inputfrom everyday people, while these turkeys plot the future of the world

    what many would like to know is when is Bernanke going to answer socialist party senator Bernie Sanders,
    enquiry as to exactly

    what Europen banks were given 1.5 trillion of the bailout money
     
  3. $$RICH$$

    $$RICH$$ Lyon King Admin. STAFF

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    good points well taken , brother I truely hear you !
     
  4. Ankhur

    Ankhur Well-Known Member MEMBER

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    litening to Naomi Klein on www.democracynow.com
    she said

    Obama promised more taxes and cuts to serious services like medicaid and medicare, as well as social security, without any taxes for the rich or restrictions on banks

    so the promise of "no longer will the public pay for corporate excess"

    is out the window
     
  5. Ankhur

    Ankhur Well-Known Member MEMBER

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    Naomi Klein: The Real Crime Scene Was Inside the G20 Summit

    As thousands protested in the streets of Toronto, inside the G20 summit world leaders agreed to a controversial goal of cutting government deficits in half by 2013. We speak with journalist Naomi Klein. "What actually happened at the summit is that the global elites just stuck the bill for their drunken binge with the world’s poor, with the people that are most vulnerable," Klein says.

    .........." But it is a young institution. It was conceived in 1999 as a summit of finance ministers. It only became a sort of an extension of the G8 as a leaders’ summit in the past two years, and that we saw in London, and we saw it in Pittsburgh, and we have now seen it in Toronto. So this incarnation of the G20 as a leaders’ summit is very young indeed.


    But yeah, ten years ago, Paul Martin, who was then Canada’s finance minister, later Canada’s prime minister, was at a meeting with Larry Summers. This is 1999, so Summers at that time was Bill Clinton’s nominee for Treasury secretary. And the two men were discussing this idea to expand the G7 into a larger grouping to respond to the fact that developing country economies like China and India were growing very quickly, and they wanted to include them into this club, and they were under pressure to do so. So, what Martin and Summers did—and this history we only learned last week. This really wasn’t a history that had been told. So this story came out in The Globe and Mail. And it turns out that the two men didn’t have a piece of paper. They wanted to—I don’t know how this would possibly be the case, but their story is that they wanted to make a list of the countries that they would invite into this club, and they couldn’t find a piece of paper, so they found a manilla envelope and wrote on the back of the manilla envelope a list of countries. And by Paul Martin’s admission, those countries were not simply the twenty top economies of the world, the biggest GDPs. They were also the countries that were most strategic to the United States. So Larry Summers would make a decision that obviously Iran wouldn’t be in, but Saudi Arabia would be. And so, Saudi Arabia is in. Thailand, it made sense to include Thailand, because it had actually been the Thai economy, which, two years earlier, had set off the Asian economic crisis, but Thailand wasn’t as important to the US strategically as Indonesia, so Indonesia was in and not Thailand. So what you see from this story is that the creation of the G20 was an absolutely top-down decision, two powerful men deciding together to do this, making, you know, an invitation-only list.


    And what you really see is that this is an attempt to get around the United Nations, where every country in the world has a vote, and to create this expanded G7 or G8, where they invite some developing countries, but not so many that they can overpower or outvote the Western—the traditional Western powers. So, as this happened, we have also seen a weakening and an undermining of the United Nations. And I think that that’s the context in which the G20 needs to be understood."

    http://www.democracynow.org/2010/6/28/naomi_klein_the_real_crime_scene
     
  6. Ankhur

    Ankhur Well-Known Member MEMBER

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    Published on Tuesday, June 29, 2010 by The Guardian/UK
    Why Should We Trust the IMF?
    The IMF is shouting about the need for austerity today, but it was strangely quiet during the build-up of the bubble that got us here
    by Dean Baker

    Is advice from the IMF better than advice from a drunk in the street? That is the question that people around the world should be asking as the International Monetary Fund dishes out its prescription for austerity. The IMF programme calls for cutbacks in government support for healthcare, pensions, and a wide range of other public services. It also calls for weakening labour market regulations that provide workers with job security.
    These recommendations are being given in a context where the world economy is suffering from a massive shortfall of demand. In other words, tens of millions of people are unemployed right now because there is not enough spending to keep them employed. The IMF's programme is almost certain to reduce spending further leading to even larger shortfalls in demand and more unemployment.

    But, the IMF says that we should trust them. The question we should all be asking is: "why?"

    http://www.commondreams.org/view/2010/06/29
     
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