Yahoo Home Page: a new world order emerges

Once-ravenous U.S. consumers are saving money and paying down debt. Banks are building reserves and hoarding cash. And governments are fashioning a new global financial order.

Congress and the Obama administration have lost faith in self-regulated markets. Together, they're writing the most sweeping new regulations over finance since the Great Depression. And in this ever-more-connected global economy, Washington is working with its partners through the G-20 group of nations to develop worldwide rules to govern finance.

"Our objective is to design an economic framework where we're going to have a more balanced pattern of growth globally, less reliant on a buildup of unsustainable borrowing . . . and not just here, but around the world," said Treasury Secretary Timothy Geithner .

news.yahoo.com...

This was actually written by McClathy news but republished by Yahoo. Its interesting to me how the US currency monopoly owners under the Federal Reserve have destroyed the economy but "self-regulated markets" get the blame despite that they are extremely heavily regulated and in fact during the previous great depression the SEC was formed to regulate the markets. Thanks SEC. Thanks for stopping governement-backed government-created Fannie Mae from helping to destroy the economy and for moving against the fraud only after the damage was done.

I think the world is no longer stupid enough to be suckered and we know government currency regulations caused both the last great depression and this depression. While I believe free markets would cause recessions or maybe even depressions I'm very confident they would be neither frequent nor as severe as government-caused recessions and depressions.

Now they want to take this mammoth stupidity to a global level to entrap us all in a prison planet. No thanks!

[edit on 8-9-2009 by truthquest]

I'm still planning on waiting to see what they finally come up with. I'd much prefer a cashless system myself. You can't have a run on the banks that way either. Something still has to change without the loose change scenario.

As long as the people protest, we may still have a chance at a realistic compromise. Not all of us are sheep or cattle.

Same ol' bull*snip*

If people aren't seeing it already, then they must be blind.

UGH OH NOO!
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