G-20

[Alyssa87]

it got pretty ugly afterall

[DeLuX]

Alyssa = naive

[Alyssa87]

Alyssa = naive

Naive? Thats a first.

well thanks for summing me up, newbie.
take care.

[mikejones]

He is undoing anti-American sentiment in Europe and beyond. This makes me very happy.

Apart from the toadies in the room who are ready to sniff his throne, there are several European leaders, as well as Chinese and others, who oppose the damage he and the Fed are doing to the dollar, which functions as the international reserve currency. Platitudes and promises of change will only carry him so far when people around the world see their wealth being destroyed by an American spendthrift and his printing press.

Sadly, i think he sounds a little stuffy and his eyes are a bit cloudy. I think he has a cold

Sometimes when a person plays in the snow too much it can seem like they might be getting a cold.

Obama and the Fed make decisions on the dollar based on what they believe will be best for the American economy. Protecting the wealth of the Chinese and other foreigners is not their concern. These people made a rational decision to invest in dollars and they are now free to make a rational decision to deinvest if they see a better option. No one is forcing them to hold dollars.

[T Oracle]

Protesters at G20 = small news here. Bank window smashed in. Blah blah.

MISCHELLE OBAMA (MAN)HANDLING THE QUEEN. Didn't anyone brief her her???

And then when she pushed Phil out of the way for the photoshoot?

PS Recession? England v Ukraine in world cup qualifier tonight. Crowd? FULL HOUSE. Supporters from Ukraine? FULL HOUSE.

How are sports venues doing in your neck of the woods?

[z_pool]

a guy was found dead amongst the crowd today...

http://www.cbc.ca/world/story/2009/0...4.html?ref=rss

[Oli]

I love Anarchists...I'd love to hear their vision of the Utopia they would replace the current system with.

[phobun]

Obama and the Fed make decisions on the dollar based on what they believe will be best for the American economy. Protecting the wealth of the Chinese and other foreigners is not their concern. These people made a rational decision to invest in dollars and they are now free to make a rational decision to deinvest if they see a better option. No one is forcing them to hold dollars.

No, but Americans hold dollars, so the appeal to a beggar thy neighbor economic nationalism won't necessarily help people at home. Your naive perspective ignores the Americans who live on fixed incomes, especially the elderly, who are hurt the worst once an inflated currency leads to higher prices. Further, if prices begin to rise faster than incomes, a debased currency will hurt all Americans. And given the already drastically increased the money supply, coupled with the government's announced policy of quantitative easing, the potential for prices to rise is a real concern. An inflated currency will help spendthrift politicians by increasing the government's purchasing power in the short term while devaluing it's debt over the longer term, but ultimately at the expense of a reduction in everyone's wealth.

Keynes was spot-on about inflation:
“Lenin is said to have declared that the best way to destroy the capitalist system was to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. By this method they not only confiscate, but they confiscate arbitrarily; and, while the process impoverishes many, it actually enriches some. The sight of this arbitrary rearrangement of riches strikes not only at security, but at confidence in the equity of the existing distribution of wealth. Those to whom the system brings windfalls, beyond their deserts and even beyond their expectations or desires, become 'profiteers,' who are the object of the hatred of the bourgeoisie, whom the inflationism has impoverished, not less than of the proletariat. As the inflation proceeds and the real value of the currency fluctuates wildly from month to month, all permanent relations between debtors and creditors, which form the ultimate foundation of capitalism, become so utterly disordered as to be almost meaningless; and the process of wealth-getting degenerates into a gamble and a lottery.
Lenin was certainly right. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose."

[Faldur]

When Anarchists organize how are they still Anarchists?

[alyssats]

why so much protestors in there? London is a big rich city of opportunity right? Many of my friends who have been there said you could easily be rich if you work hard there