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[b]Marcus wrote:[/b]
[quote]I haven't posted on here for quite a few weeks (had a lot of work on), but I have to say I find the media's reporting of today's agreement from the G20 quite silly to say the least.
If you actually bother to read the press release given out at the end of the meeting, you'll actually find it consists mainly of a load of general phrases just thrown together with nothing of substance. Apart from putting a load of money in the IMF, there IS no plan of action.
There was a LOT of hysteria about the 0.9% rise in property prices last month. This, I'm afraid, is very likely to be false optimism.
There is ALWAYS a severe drop in interest in the housing market in the month immediately before and after Christmas. If it isn't going to pick up in March, it never is. This small rise shouldn't be mistaken for a major cause for optimism.
I wonder when the government is going to do something to reward those of us who have saved hard and are not in excessive debt. I had my ISA statement recently and it hardly seems worth saving money with such pitiful rates of interest.[/quote]

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Topic History of: G20 : More disastrous debt building or a solution ?
Max. showing the last 5 posts - (Last post first)

Author	Message
JK2006	I must say it does appear to me that the recession was caused by people who could not afford to spend being urged to spend. The solution now seems to be to encourage people who cannot afford to spend to spend and spend. Beyond my financial comprehension.
Marcus	I haven't posted on here for quite a few weeks (had a lot of work on), but I have to say I find the media's reporting of today's agreement from the G20 quite silly to say the least. If you actually bother to read the press release given out at the end of the meeting, you'll actually find it consists mainly of a load of general phrases just thrown together with nothing of substance. Apart from putting a load of money in the IMF, there IS no plan of action. There was a LOT of hysteria about the 0.9% rise in property prices last month. This, I'm afraid, is very likely to be false optimism. There is ALWAYS a severe drop in interest in the housing market in the month immediately before and after Christmas. If it isn't going to pick up in March, it never is. This small rise shouldn't be mistaken for a major cause for optimism. I wonder when the government is going to do something to reward those of us who have saved hard and are not in excessive debt. I had my ISA statement recently and it hardly seems worth saving money with such pitiful rates of interest.
BR	So it is nearly all over - has the G20 worked ? The BBC are convinced that BROWN has saved the world yet again ( third time in 5 months ) but all I can see is another trillion dollars of debt for taxpayers moved strategically to the IMF and World Bank in order to prop up the next 20 countries who go under. Nothing inspirational in my view. No answer to "how this happened" or "how to fix it" In another 6 months time we will be in the same ( but worse ) position based on the lack of any real action. Like a drug addiction - the World leaders vote to add more debt to the debt problem in the hope that they may win a lottery or get voted out of office before they have to pay it back.......... As New Labour sang..."Things can only get worse....>"