Something Feral

Digging up the flower-beds.

Thursday, April 2, 2009

The Eye of the Hurricane

"I believe it is peace prosperity for our time."
World leaders on Thursday heralded the G20 summit as the day the world “fought back against the recession” as they put on a show of unity that lifted global markets and mapped out a new future for financial regulation.

Gordon Brown, UK prime minister, host of the summit, said the meeting marked the emergence of a “new world order”, as he unveiled what leaders claimed was a $1,100bn package of measures to tackle the global downturn, including support for lower income countries and a $250bn plan to boost the international money supply.
The Dow crested above 8,000 today, and gold is almost below $900 per ounce: opportunity knocks.

Carving away the self-lauding double-speak, the various appointed representatives agreed to inflate the the money supply, which as has been mentioned before, does absolutely nothing to alleviate market-correction or compounding failure that is systemic to the fiat-currency banking structure. Indeed, the only thing that continued government-endorsed credit-expansion does in a correction is prolong the correction, and this will be no exception.

It would seem that Chamberlain's ghost still haunts Downing Street.


Elusive Wapiti said...

I do find it somewhat bemusing and a little astonishing how much the G20 protesters and I are starting to agree.

Of course, without all the Royal Bank of Scotland window-smashing (left-wingers are always more violent on average than righties).

Something Feral said...

It's a sad state of affairs when we find ourselves in agreement with that lot.

Many on the left are simply unable to resolve historical evidence, a priori economic theory and the concept of natural rights with the Marxist garbage that's been fed to them over the years. The reasoning is overwhelming, and they tend to become hysterical, at which point any semblance of rational discussion ends.

It's easier to keep up with the crowd if they just destroy what they don't understand in proxy, be it shop-windows, cars, of what have you. Just another case against urban-living, in my opinion.