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G20 To The Rescue

By Da King Published: April 3, 2009

British Prime Minister Gordon Brown called the G20 summit the beginning of a "new world order." French President Nicholas Sarkozy said “a page has been turned” on the era of post-war “Anglo-Saxon capitalism." Russian President Dmitry Medvedev called President Obama "my new comrade." Obama called the G20 summit a "turning point," and referred to himself as a "bridge builder."

Europe loves our new president. Everyone is all smiles. The days of Bush's "my way or the highway" foreign policy are over. The reset button has indeed been pushed. It's all good. I feel like singing.

We are the world
We are the children
We are the ones who make a brighter day
So let's start giving

It's wonderful. Let me share some of the details of the G20 wonderfulness with you.

- The G20 pledged to give $1.1 trillion to the International Monetary Fund (IMF) and the World Bank to help struggling countries. I've not heard what the US contribution will be, but I'm going to guess it will be....sizable. No problem. We Americans are loaded (with debt). What's a few more hundred billion dollars, especially when it will save the world ?

- The G20 created a global financial regulatory body. This is good news too. We no longer have to rely on our failed sovereign authorities like Congress and the SEC to do it. Now the world will regulate us.

Hardly any details of the the new ideas were worked out yet, but that is to come soon (depending upon your idea of "soon"). The G20 will meet again in New september.

Obama rocks !



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