Andrew WhiteI had to laugh! I was reading an article over the weekend, in the Financial Times, from Friday’s edition. The article was called, “Japan Supports US Emphasis on Global Action”, that referred to this weeks G20 meeting in London. The US is calling on the Europeans to spend more (something like 2% of GDP) to help bolster spend as consumer spending has been collapsing all around the world. The US is printing money, but the Europeans have been operating too slowly, and in a mostly uncoordinated fashion.
The Japanese Finance Minister, Kaoru Yosano, was quoted as saying, “What we ask at this moment is to save the life of the world economy. Not to comment about its beard.” This comment is targeted at those European leaders who would rather spend their time and focus re-writing costly regulations to try to prevent the next bubble, even though the house around them is burning down (to mix metaphors). Anyway, should be an interesting week in London. Let’s see what words of wisdom are spoken…
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