[eXpat]

According to the BBC, quote : "Leaders of the world's largest economies reach an agreement on how to tackle the global financial crisis."
So what is the solution our clever leaders found??
- Commit $1 trillion MORE.
- Sanctions against tax havens.
- Bankers' pay and bonuses WILL BE subject to stricter controls.
- The world's poorest countries will receive extra aid.
I didn´t think that it was so easy after all!!!!
$this->bbcode_second_pass_quote('', '&')quot;This is the day that the world came together to fight back against the global recession, not with words, but with a plan for global recovery and for reform and with a clear timetable for its delivery," Mr Brown said.

[NoWorries]

Well, look at the Dow today -- It's over 8000!

New car sales jumped 25% last month -- That's incredible.

Housing starts are also up.

I don't know what to make of it. But I can tell you this: If this recovery is real, then the price of oil will inevitably climb with the Dow, as the economy improves.

[Voice_du_More]

The recovery is still psychology at this moment, well mostly. But some of the worst is yet to arrive. Agreed that oil will rise even if it is only believed that there is a recovery, peak oil will be in the news again by later this year or early next.

If you watch Gordo on BBC you will here in the last 30 seconds of his speech 'a New World Order is emerging.'

So the train kept a rollin'

[Prince]

$this->bbcode_second_pass_quote('NoWorries', 'W')ell, look at the Dow today -- It's over 8000!

New car sales jumped 25% last month -- That's incredible.

Housing starts are also up.

I don't know what to make of it. But I can tell you this: If this recovery is real, then the price of oil will inevitably climb with the Dow, as the economy improves.

[vision-master]

$this->bbcode_second_pass_quote('Voice_du_More', 'T')he recovery is still psychology at this moment, well mostly. But some of the worst is yet to arrive. Agreed that oil will rise even if it is only believed that there is a recovery, peak oil will be in the news again by later this year or early next.

If you watch Gordo on BBC you will here in the last 30 seconds of his speech 'a New World Order is emerging.'

So the train kept a rollin'

[deMolay]

The world leaders have been drinking each others bathwater in London. Hi Mr. Brown, you forgot to wipe that little bit of Bullshit off your lips, right there at the corner.

[AgentR]

First off, I don't know why we wouldn't think that there would be a recovery and another cycle of growth. The real question is how far into the hole we have to go in order to get this one going and how fragile will the economy be when it once again taps up against the upper bound of the current physical max flow rate of oil and energy. I see no reason to believe that there won't be two or three more recession / recovery cycles before the industrial economies found out what "NO" means.

[skeptic]

So what is the solution our clever leaders found??

- Commit $1 trillion MORE. - which will ultimately make matters worse. It will end up in the fcuked banks, which will hold onto it to offset bad debt, not the productive economy.
- Sanctions against tax havens. - bolting the door after the horse horse has bolted.
- Bankers' pay and bonuses WILL BE subject to stricter controls.[/i] - bolting the door after the horse horse has bolted.
- The world's poorest countries will receive extra aid. - irrelevant. It's not the worlds poorest countries banking/financial services corporations which are the root of the problem.

FAIL.

[gnm]

$this->bbcode_second_pass_quote('AgentR', 'F')irst off, I don't know why we wouldn't think that there would be a recovery and another cycle of growth.

[Arsenal]

With the amount of funny money they are pumping into the system, who wouldn't expect the DOW to take off. That doesn't help the main street problem of unemployment. The DOW could be 15,000 but would it matter if you didn't have a job?

S&L bubble - popped
Tech bubble - popped
Real estate bubble - popped

New bubble?? Dollar perhaps? Treasuries?

Either way it is more time to prep. Chicken coop supplies arrive next Friday.

[CelticCross]

The Financial Accounting Standards Board relaxed the rules on mark to market, as expected. Assets no longer have to be priced at their "current" value. Happy days are here again. Right?

[sihmei]

They can spin the situation all they like, but one has to look at the big picture - to see the real fundamentals of the economy. With oil now peaking, proper substantial economic growth finished, the entire world capitalist system, is over.... forever. We may manage a little half-fake "recovery", but it will be a short and weak affair. Then the next wave of chaos caused by energy shortages hits, then another even weaker and more feeble recovery, then the next wave etc. Hence continues the ever worsening downward spiral until the ICBM's fly and we end back in the Iron Age at best...Neolithic at worst.

[spear]

O'bama just held his press conference,I was watching it on the news,live.

The main focus of his little speech was the G20 agreed to "more market regulation".
Now how one interprets this,I dont know,but it sounds to me like more taxes.

[deMolay]

I really can't see how people think he is a good speaker. One question followed by 20 minutes of er, ah, er, ah, er, ah, etc. And in the end he never answers the question. Hilarious.

[AgentR]

$this->bbcode_second_pass_quote('gnm', 'B')ecause any REAL growth will require a net increase in energy usage. And without production increasing we're not going to get that...

[EnergyUnlimited]

$this->bbcode_second_pass_quote('sihmei', 'T')hey can spin the situation all they like, but one has to look at the big picture - to see the real fundamentals of the economy. With oil now peaking, proper substantial economic growth finished, the entire world capitalist system, is over.... forever. We may manage a little half-fake "recovery", but it will be a short and weak affair. Then the next wave of chaos caused by energy shortages hits, then another even weaker and more feeble recovery, then the next wave etc. Hence continues the ever worsening downward spiral until the ICBM's fly and we end back in the Iron Age at best...Neolithic at worst.

[ralfy]

But what about the possibility of foreclosures whent interest rates for Option ARMs and Alt As start resetting?

http://www.cbsnews.com/stories/2008/12/ ... 6112.shtml

(see video and transcript)

Also, what about the exposure of U.S. banks to the derivatives market?

http://www.creditwritedowns.com/2009/04 ... llion.html

Finally, from what I know, in order to recover, a significant portion of U.S. debts has to be paid and the U.S. can only do that by exporting heavily and spending (and importing) less. But this will involve low wages and assuming that other countries will be buying those exports. But if these other countries want to do the same....

[AgentR]

$this->bbcode_second_pass_quote('ralfy', 'B')ut what about the possibility of foreclosures whent interest rates for Option ARMs and Alt As start resetting?

[hironegro]

$this->bbcode_second_pass_quote('AgentR', '')$this->bbcode_second_pass_quote('ralfy', 'B')ut what about the possibility of foreclosures whent interest rates for Option ARMs and Alt As start resetting?