Don’t know what to make of the announcement of significant international agreement on inter-governmental oversight of the world’s financial markets at a meeting of world leaders in Washington. It seems that the group of leaders agreed to a joint statement akin to “mistakes were made [by you miserably stupid, greedy, American bastards] for which we will all have to pay for cleaning up.” Or something.
But evidently, the leaders of at least the world’s three most populous nations (that would be China, India and the United States) were present, with presumably the other 17 being pretty big themselves, i.e., most of the human race (in an economic sense, to be sure) was represented for these discussions, which were curiously devoid of specific substance, other than that the nations pledged “to act together in a crisis“.
At least the joint statement was nice and long.
Don’t know. Part of the problem is that the crappy old management that put us in this mess with its “tax cuts for the super-rich” and its free-market Stalinist orthodoxy will still be in charge on these shores for the next 66 days or so; for his part, President-Elect Obama was content to remain in Chicago, presumably working on the transition, and letting the Bushmen deal with this mess as caretakers for the coming Obama Administration, realizing, probably wisely, that no good can come of even being near President Bush. Well, yada yada yada change…
Still and all… given how powerful big money is here, in the US of A, and how desperately it wants to remain unregulated and not have its [insidious] power checked, and given how cautious and pragmatic the President-Elect is likely to be, I’m not sure we can expect any “dramatic” change, at least in the near-term. Although, maybe we will. Don’t know: big change, of a throwback nature (that would be the kind we saw in, say, 1933 and 1934) will be required… will we see it? Stay tuned…
tdog
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