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Electocracy
As you know, G8 leaders are meeting in Italy this week. From Reuters: “L'AQUILA, Italy (Reuters) – G8 leaders believe the world economy still faces "significant risks" and may need further help, according to summit draft documents that also suggest failure to agree climate change goals for 2050. The Group of Eight -- United States, Germany, Japan, France, Britain, Italy, Canada and Russia -- kicked off with debate on the economic crisis, after what one analyst called a "reality check" in recent weeks on the prospects for rapid recovery. But few big initiatives were expected as the G20, a broader forum that also includes the main emerging economies, is tasked with formulating a regulatory response to the crisis and meets in September in Pittsburgh after an April summit in London. Not mentioning China's push for a sensitive debate about a long-term alternative to the dollar as global reserve currency, the draft talked only of global imbalances. China complains that dollar domination has exacerbated the global crisis and worries that the bill for U.S. recovery poses an inflation risk for China's dollar assets, an estimated 70 percent of its official currency reserves.” I don’t think these people have a clue – they only state the obvious. I can do the same from my lawn chair. These G8 people are the Electocracy – they behave like royalty, junketing from place to place, enjoying the scenery and camaraderie of the Club but solving not a single problem. They are very much like a doctor who prescribes antibiotics for an illness your body would get rid of on its own. It’s childish. We can do better than this. The woman on the left is also quite tired of this little game. Please.
As you know, G8 leaders are meeting in Italy this week. From Reuters: “L'AQUILA, Italy (Reuters) – G8 leaders believe the world economy still faces "significant risks" and may need further help, according to summit draft documents that also suggest failure to agree climate change goals for 2050. The Group of Eight -- United States, Germany, Japan, France, Britain, Italy, Canada and Russia -- kicked off with debate on the economic crisis, after what one analyst called a "reality check" in recent weeks on the prospects for rapid recovery. But few big initiatives were expected as the G20, a broader forum that also includes the main emerging economies, is tasked with formulating a regulatory response to the crisis and meets in September in Pittsburgh after an April summit in London. Not mentioning China's push for a sensitive debate about a long-term alternative to the dollar as global reserve currency, the draft talked only of global imbalances. China complains that dollar domination has exacerbated the global crisis and worries that the bill for U.S. recovery poses an inflation risk for China's dollar assets, an estimated 70 percent of its official currency reserves.” I don’t think these people have a clue – they only state the obvious. I can do the same from my lawn chair. These G8 people are the Electocracy – they behave like royalty, junketing from place to place, enjoying the scenery and camaraderie of the Club but solving not a single problem. They are very much like a doctor who prescribes antibiotics for an illness your body would get rid of on its own. It’s childish. We can do better than this. The woman on the left is also quite tired of this little game. Please. 
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