Capitalism For Dummies

....and the Dummy is the Tax Payer.

This is basically the statement that came out of the G20 last week.

They basically had a set of principles to guide policy during the balance of the crisis period. This is basically a Global Capitalist Manifesto. The clan/cabal is simply promoting the current recovery at the expense of contributing to a future crisis. From this an orgy of buy side activity emerged this week on the backs of the G-2o stating that global economies have returned to growth after severed declines. This recovery has been very uneven and may not be self sustaining. The financial credit markets have improved but are far from normal. There must be plans for an exit strategy to promote strong and balanced economic growth.

The Seven Principles Of The G-20 or Capitalist Manifesto:

Principle 1: The timing of exits should depend on the state of the economy and the financial system, and should err on the side of further supporting demand and financial repair.

Principle 2: With some exceptions, fiscal consolidation should be a top policy priority. Monetary policy can adjust more flexibly when normalization is needed.

Principle 3: Fiscal exit strategies should be transparent, comprehensive, and communicated clearly now, with the goal of lowering public debt to prudent levels within a clearly-specified time frame.

Principle 4: Stronger primary balances should be the key driving force of fiscal adjustment, beginning with actions to ensure that crisis-related fiscal stimulus measures remain temporary.

Principle 5: Unconventional monetary policy does not necessarily have to be unwound before conventional monetary policy is tightened.

Principle 6: Economic conditions, the stability of financial markets, and market-based mechanisms should determine when and how financial policy support is removed.

Principle 7: Making exit policies consistent will improve outcomes for all countries. Coordination does not necessarily imply synchronization, but lack of policy coordination could create adverse spillovers.

But the question I have are the following:

Why are we not taking about TBTF institutions?
What happens if an exit strategy is enacted and growth doesn't return?
Where is the talk on global imbalances? China Revaluation?
What about the dollar destruction and US Trade Deficit?

So far its all about keeping current policy intact so that rich bankers can become even richer bankers. The G-20 is not even pretending to lie that they cater to the elite. It seems to me that any type of fiscal policy can only be discussed in the context of "exit strategies." That expansionary monetary policy will enacted forever. All in the name of whats good for the people. Remember, they are doing Gods Work! If they were they would be doing it for free correct? I don't remember Jesus and his apostles getting billions for spreading the joy of God.

All this amounts is to further the welfare state for Goldman Sachs, JP Morgan, and BOFA and the expense of the real economy.

The G-20 is a joke. A cruel joke on humanity. They have no real plan.