The G20 has lost the plot

[sasguru]

"you can't borrow your way out of debt, you can't spend your way out of recession"

everyone apart from socialist/commie politicians & bankers get this point

So your sole argument is to repeat your quote?
Are you after CyberCretin's crown?



Whose sockpuppet is this?

[Not So Wise]

"you can't borrow your way out of debt, you can't spend your way out of recession"

If done right then yes you can borrow your way out of debt, aka Refinancing/Debt consolidation so forth

Same also applies to a recession, if done right not only can spend your way out of it but also end up in better a situation than you started at before the recession

Key bit being "if done right"

[minestrone]

There are very obvious differences of opinion between France/Germany and UK/US, the rest are probably somewhere in between.

Hell, we have all the nukes, let's just end it now.

[contractor79]

There are very obvious differences of opinion between France/Germany and UK/US, the rest are probably somewhere in between.

Hell, we have all the nukes, let's just end it now.

isn't it shameful to have to be lectured on financial management and prudence by the French and Germans, Anglo-saxon pride has all but gone

[contractor79]

If done right then yes you can borrow your way out of debt, aka Refinancing/Debt consolidation so forth

Same also applies to a recession, if done right not only can spend your way out of it but also end up in better a situation than you started at before the recession

not anymore

[PM-Junkie]

Populist nonsense for simpletons.
Don't bother your tiny brain cell with economics.

In fact, as Keynes showed, a country (it's businesses, government and people) HAS to spend its way out of recession.

True. But only up to a point. Or are you seriously suggesting that we can continue borrowing with no limits?

The governor of the BOE pulled the plug on borrowing last week, so the argument is academic anyway - there is no more money. And I think it is highly debatable that UK PLC will be able to raise the borrowings it has already earmarked.

[suityou01]

So France and Germany beat the WHOLE WORLD yesterday then? Wow!

Considering there was ZERO fiscal stimulus in the communique, are you conceding that the world lost, BP?

Shame that most of the $1.1 trillion is not NEW money, but old money reannounced (Japan and Europes contributions to the IMF) or more specifically, PRINTED SDR money from the IMF ($250bn).

Most of it will act much like the APS in the UK, as credit security for nations who struggle to sell bonds (sound familiar?).

It is a very well spun confidence boosting communique without requiring nations to stump up new stimulus capital. I would go as far as to say that Brown is a better spinner than Blair ever was, he has ALL the mainstream papers hoodwinked hook line and sinker...

Thought this was only on China's "wish list"

[suityou01]

Or maybe not

http://www.imf.org/external/np/fin/data/rms_five.aspx

I for one believe the global currency is a sign of the end times, mark of the beast and all that.

[contractor79]

[QUOTE=PM-Junkie;813117]Is God willing to prevent evil, but not able? Then he is not omnipotent. Is he able, but not willing? Then he is malevolent. Is he both able and willing? Then whence cometh evil? Is he neither able nor willing? Then why call him God? - Epicurus QUOTE]

God will deal with evil forever, make sure you're on the safe side of the fence when that happens

[contractor79]

Or maybe not

http://www.imf.org/external/np/fin/data/rms_five.aspx

I for one believe the global currency is a sign of the end times, mark of the beast and all that.

indeed, all this new world order talk is quite scary
global currency, id cards etc. and Christianity will be persecuted big time