They need to rename the G20 financial summit to something more appropriate, like the "Coordinated Bullshit Symposium".  The goal of these meetings isn't to actually accomplish anything, it's to put out a bunch of happy-crappy blather to sell to the dipshits back home.  Sorry, but I'm not buying, maybe Krugman would like some.

The only nation to make a statement that was at all worthwhile was Brazil,  who said 'Fuck You' to the whole process and skipped the meeting in protest.  If your tolerance for bullshit is extraordinarily high, you can read this 'news' summary of the summit.  I'd fisk the whole thing, but I have better things to do (like trim my toenails), so I'll just point and roll my eyes.

If I tried to interpret this degenerate international Kabuki theater, it would basically come down to:  Geithner showed up and said that the rest of the world should be happy to let us print lots and lots of dollars and accept that their US Treasuries would become toilet paper.  And while they were at it, they needed to stop trying to be productive and stop exporting so much to us.  The rest of the world told Geithner to go fuck himself then gave him a swirly.

If anything of substance had come out of the G20, it would have been shocking, as the global economy is one huge clusterfuck and the last thing any of these finance ministers want to do is take an honest approach to the issues.  Taking an honest approach would mean flushing the debt out of the system, which would shut down most of the world's major banks, which would mean less money for finance ministers to take cushy trips to meaningless conferences.  And God forbid that should happen.

Posted by: Hermit Dave at 08:32 PM | No Comments | Add Comment
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