This weekend the " Summit on Financial Markets" will be held in Washington D.C. Leaders of 20 nations (G-20) will attend. Emerging nations represented will include China, Brazil, Saudi Arabia, and Russia. Jack Bauer where are you? In 1944, a similar conference was held in Bretton Woods, New Hamshire. The purpose of this post WW II meeting was to ensure prosperity through economic co-operation. Does this sound familiar. President Roosevelt told the conference, " The economic health of every country is a proper matter of concern to all its neighbours, near and distant". Hopefully, this weekend will bring the beginning of Bretton Woods II.
The persistent question this week in many investors minds has been, "Who has the right answer to prevent the potential depression? The G-20 is searching for the elusive solution to our financial crisis. The stock market has declined precipitiously since that day last month when the Congress approved the $700 Billion TARP. It is clear that we have yet to find the answer to this debacle, but we are trying. Time is of the essence because the economy is 24/7. Jack Bauer was able to save the world in 24 hours. We hope this one is saved within 24 months.
Random thoughts....Hillary Clinton would be the #1 choice for Secretary of State...forget John Kerry or Bill Richardson....retail sales were near zero in October...forget November it will be worse...Banks are raising interest rates in order to get your deposits....they need all the money they can get...CASH IS KING!!!
The persistent question this week in many investors minds has been, "Who has the right answer to prevent the potential depression? The G-20 is searching for the elusive solution to our financial crisis. The stock market has declined precipitiously since that day last month when the Congress approved the $700 Billion TARP. It is clear that we have yet to find the answer to this debacle, but we are trying. Time is of the essence because the economy is 24/7. Jack Bauer was able to save the world in 24 hours. We hope this one is saved within 24 months.
Random thoughts....Hillary Clinton would be the #1 choice for Secretary of State...forget John Kerry or Bill Richardson....retail sales were near zero in October...forget November it will be worse...Banks are raising interest rates in order to get your deposits....they need all the money they can get...CASH IS KING!!!
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2 comments:
CASH "is" king these days. Maybe you can buy a canvas print of one of my photos so I can raise some "extra". LOL
Ooops...accidentally pressed ENTER before finishing my comment. I wanted to add that I loved your play on Jack Bauer. It seems the pressure is "on" for the USA and worldwide 'for that matter'. I do hope Obama selects Hillary as "Secretary of State". It's better than VP as she'd be so INVOLVED--and we so NEED that!
I love your blog.
Hugs,
Michael ;)
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