G20 leaders seal $1tn global deal

[Jordy]

Leaders of the world's largest economies have reached an agreement to tackle the global financial crisis with measures worth $1 trillion (£681bn).
To help countries with troubled economies, the International Monetary Fund (IMF) will get extra resources worth up to $750bn.
There will also be sanctions against secretive tax havens and tougher global financial regulation.
And the G20 has committed about $250bn to boost global trade.Finally some good to come out of G20 :P

http://news.bbc.co.uk/1/hi/business/7979483.stm

[-:Undertaker:-]

I believe the answer is not to throw money at the problem but to just weather the recession and get back to capitalism. Capitalism has to have a boom and bust, and it will happen again, you can't avoid it.

Throwing money and printing money which has no value behind it is what happened in Germany after WW1, and what happend? - the currency became worthless. All this 'investment' doesn't exist, it is just paper money with no value.

The depression ended mainly because the end of the depression arrived as it always does with a downturn, and with the build up of weapons against the threats arising from the Third Reich & Japanese Empire.

[Fez]

Gotta admit, Gordon Brown did a good job.

[Mario]

Gotta admit, Gordon Brown did a good job.

First good thing he's done so far

[Kipp]

Thats good they have come to a agreement.

[Jahova]

More money won't solve this though. This money they are pumping into the economy doesn't even exist. If you've watch the Zeitgeist: addendum then you will understand where I am coming from. The currency will just collapse and so on so forth.

[-:Undertaker:-]

Gotta admit, Gordon Brown did a good job.

A good job spending our money on something which could of been hosted in a country like PROC which isn't in massive debt like us, or even making them all pay for their visit by themselves. I have heard this G20 summit has cost us something around 20 million to 50 million, all paid for not by our parents, but when we come to pay our taxes because our parents are already having to pay off the debts the Labour government has amassed over the past 11 years.

The point is, no one can fix this and printing more money will not solve this, we just need to clear toxic bank assets and get the system working again, since we now own most of the banks (over 50% in most) I would make them lend money again.

That all is needed, money with a value behind it needs to start flowing again.


More money won't solve this though. This money they are pumping into the economy doesn't even exist. If you've watch the Zeitgeist: addendum then you will understand where I am coming from. The currency will just collapse and so on so forth.

Exactly, learn from history they always say - well I have learnt from the Weimar Republic & Zimbabwe and I think we all know from them two examples what happens when you print money that is of no value.

[Jord]

Wow alot of money but its worth it.

[Jordan,]

its actually $1.1tn

[Jordy]

A good job spending our money on something which could of been hosted in a country like PROC which isn't in massive debt like us, or even making them all pay for their visit by themselves. I have heard this G20 summit has cost us something around 20 million to 50 million, all paid for not by our parents, but when we come to pay our taxes because our parents are already having to pay off the debts the Labour government has amassed over the past 11 years.

The point is, no one can fix this and printing more money will not solve this, we just need to clear toxic bank assets and get the system working again, since we now own most of the banks (over 50% in most) I would make them lend money again.

That all is needed, money with a value behind it needs to start flowing again.



Exactly, learn from history they always say - well I have learnt from the Weimar Republic & Zimbabwe and I think we all know from them two examples what happens when you print money that is of no value.True but if you look at a more recent example such as Japan just over a decade ago when had their own recession, they printed money and it took years for anything to happen and then just brought inflation rather than stimulating the economy. It hasn't ruined Japan's Currency (Yen) but it hasn't done it any favours either.

I can't see the quantitative easing doing any good but presumably it'll be controlled before it gets too out of hand.