Added: Monday, 20 April 2009, 05:25 AM Mecca time, 02:25 AM GMT
The loudest voices at the summit were those who allowed the problem to arise, and who caved in to corrupt financial practices. The cures announced told me the G20 acted like the man who jumped on his horse and galloped off in every direction. A mountain of platitudes, more bureaucracy, and implementation by the IMF, World Bank (both discredited and regarded with grave suspicion by Asia) and a new Financial Stability Forum. And blame passed to Offshore Financial Centres. The crimes occurred Onshore guys. Let's see prosecutions in London, Paris, New York and Berlin. Set an example.
grandrobglobal, Kota Kinabalu, Malaysia
Added: Thursday, 16 April 2009, 03:59 AM Mecca time, 12:59 AM GMT
We should begin to implement world hypergrowth through increasing the rate of reinvestment into plant, equipment, and infrastructure. The paradox of reinvestment is the higher the reinvestment rate, the sooner growth restores the sacrifice. Faster stable growth means less unemployment. Management costs should continue to be permanently trimmed. Fees for temporary transfers to individuals should be replaced by interest bearing savings by shifting credit card use toward debit cards and by increasing the savings rate with a rapid increase in real incomes. Increases in productivity are as simple as a free man's output is double that of a slave's and a business owner's output is double that of a laborer self employment is the key to an efficient economy that overcomes depreciation and basic living costs. Capacity constraints can be overcome with central planning such as Alvin H Hansen's World War II US production miracles. The downturn makes restructuring the economy simpler and easier.
BeoWolf, Tampa, United States
Added: Wednesday, 15 April 2009, 07:07 PM Mecca time, 04:07 PM GMT
Saudi Arabia urged to develop more uses for sand as demand for oil evaporates. Fluor and Airtricity successfully developed the 500 megawatt Greater Gabbard Offshore Wind Farm located off the coast of Suffolk, which is currently the world's largest offshore wind farm under construction. It is on schedule for completion in 2011. Airtricity and Fluor have also received an exclusive development agreement from The Crown Estate for the Bell Rock Offshore Wind Farm located within Scottish Territorial Waters.
Zarkmud, Andorra, Andorra
Added: Wednesday, 15 April 2009, 05:59 PM Mecca time, 02:59 PM GMT
“Peace and Prosperity to All Our Sisters and Brothers of Earth” Fred F. Jones, Pueblo, United States I like that, Fred! This is the dream of one world where all of us have equal opportunities and equal rights. Science and technology have changed our world and given us wonderful possibilities but not yet for all people living in the world. We have not yet learnt to solve our conflicts without war in the world. Our scientists don't fully understand such things as economics, they don't know how to avoid financial crises and recessions, and they don't fully understand how human moral and ethics work and develop. But I recently read an article in my newspaper how scientists think one part of human moral, compassion. has been developed by the evolution. I have a strong feeling that sometimes in the future our scientific knowledge will have developed that our dream of a world with equal rights, without economic crises and without wars will come true.
Pelle, Stockholm, Sweden
Added: Wednesday, 15 April 2009, 05:11 AM Mecca time, 02:11 AM GMT
SKS, India: Interest is the fuel of savings and investment. That the Federal Reserve has set rates as low as they have has absolutely nothing to do with the principle of charging interest. In fact, they have done so to encourage the lending of money for interest. That Moses thought charging interest to poor people was a bad idea is not very relevent to anything....
Robwash, Los Angeles, United States
Added: Monday, 13 April 2009, 04:45 PM Mecca time, 01:45 PM GMT
How much money has the federal government thrown at the financial crisis since the recession first began over a year ago? Exact figures remain elusive, like most of the way the government handles and accounts for money, and it's complicated by a simmering alphabet soup of programs aimed at revving up the economy. Turns out it would be easier to count the squirrels in Central Park than arrive at a precise answer. So far, cash commitments made by various bailout efforts — including the Treasury's $700 billion Troubled Asset Relief Program bailout and various lending programs by the Federal Reserve — are just shy of $3 trillion, Neil Barofsky, special inspector general for TARP, told the Senate Finance Committee March 31. An analysis by msnbc.com concludes that Congress, the Fed and government agencies have announced plans to spend $7.2 trillion to fight the economic downturn, with the vast majority of that coming in the form of loans and loan guarantees.
Leonard, Raymond, New Hampshire, United States
Added: Monday, 13 April 2009, 03:52 PM Mecca time, 12:52 PM GMT
SKS, your views on capitalism & communism are gleaming in terms of the prevalent global credit crunch. Not very long ago, Russia disintegrated inspite of its state of the art technological achievements in diversified areas, on the hands of capitalism, why because they could not exploit their inventions due to financial constraints, which later on came out of Rusia and were commercialized generating massive revenue for private sector companies in the US as well as in the west.
Sohail Gill, Pakistan
Added: Monday, 13 April 2009, 05:49 AM Mecca time, 02:49 AM GMT
God loves the poor people, this is why He created so many of them - man loves the rich people, this is why he creates the chosen few ...
Leonard, Raymond, New Hampshire, United States
Added: Monday, 13 April 2009, 03:15 AM Mecca time, 12:15 AM GMT
Fred Jones, USA: If Reagan deregulated the banks, how do you explain all the bad loans and leveraged products floated by "regulated" banking systems in Europe and elsewhere? And these products were based on bets on emerging markets, not our real estate market.
Robwash, Los Angeles, United States
Added: Sunday, 12 April 2009, 10:42 PM Mecca time, 07:42 PM GMT
mzmarlena, couldnt agree with you more, I never understood that part of America. Maybe as Fred hints it is the fact that we are more equal?
