G20 leaders agree $1.1 trillion injection to aid global recovery

thebman

And they are going to pull it out of their ..... or is this China's money mostly?

http://www.guardian.co.uk/world/2009/apr/03/g20-gordon-brown-global-economy

A $1.1tn package to supplement the $5tn stimulus to the global economy by individual countries. The $1.1tn will allow the IMF, the World Bank and others to increase lending to vulnerable countries. There will be a tenfold increase to $250bn in the IMF's facility allowing members to borrow from other countries' foreign currency reserves.

Joey the lips

Its a very very bad system we live by. We live by a system where by when people dont spend we give them more money. Rather than analysise the reasons they dont spend.

And no it's not only down to money

I think we need to build confidence in the market again and I firmly believe this is done by building home grown industries in the countrys. Thisinspires consumer confidence as well as providing jobs

Barname

It is possibly the greatest con job ever attempted to have been pulled on humanity.

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, South Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the U.S., the U.K. and the European Union.

• Argentina - A country who's economy is so mashed that its citizens rely on barter to survive.
• Australia - about to launch its 3rd domestic stimulus package
• Brazil - surfing the wave
• Canada - In recession
• China - entering meltdown, all the money it has saved was invested in T Bills..... what are they worth? :pac:
• France - Number fudgers in permanent financial morass
• Germany - Years of pain following re-uni are paying off now. Battle ready they can take a few hits for 24 - 36 months.
• India - Bubble is BUST a society of such inequality will never acheive much more than large egos. Definitely unable to contribute fiscally.
• Indonesia - High inflation and plunging growth. Falling just as they were about to walk.
• Italy - Economy contracting by 5%
• Japan - the poster child for how not to handle the waste of a credit boom
• South Korea - Exports collapsing 25% this year!, employment with it.
• Mexico - Cash from Oil and Columbian drug barons using it as a transit route, other than that - a wasteland
• Russia - Economy in recession 7% contraction.
• Saudi Arabia - only present for 1 reason
• South Africa - You are kidding me... right?
• Turkey - Economy collapsing 6-7 %
• USA - :pac: crank the printing press :pac::pac: China weeps. :eek:
• UK - How much debt can the Bank of England bluff its way through before everyone realises whats going on?
• EU - without Germany the EU would have collapsed by now.

so....

the above are the jokers that are going to INVEST 1 Trillion?

where are they plucking it from?

I wonder what an alien arriving on earth would think of these crazy actions!

The money in your pocket is all part of a big game it would appear.

silverharp

Barname wrote: »

It is possibly the greatest con job ever attempted to have been pulled on humanity.

Possibly , it will fail thats for sure , the problem is what additional damage have will they have done to the system.

Flamed Diving

Ugh, the IMF. Haven't we learned our lesson by now with these idiots?

I don't like this 'print our way out' strategy, at all. Bad news.

thebman

BBC article.

http://digg.com/d1nmgN

Offtopic:
Interesting new feature of digg is its new short URL service.