From a Channel Seven special on Sunday with Sunrise Co host/sometime financial advisor David Koche to the less than svelte sometimes in opinion Sarkozy, where ios the global market headed?
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The economic turmoil provoked by crises in the American subprime and finance markets has put an end to the free market economy, French President Nicolas Sarkozy says.
"Laissez-faire is finished, the all-powerful market that is always right, that's finished," Sarkozy said in a widely anticipated speech, his first in France on the economic crisis.
As a result, it is "necessary to rebuild the entire global financial and monetary system from the bottom up, the way it was done at Bretton Woods after World War II," Sarkozy said.
In July 1944, an agreement was signed in Bretton Woods, New Hampshire, that established new rules for commercial and financial relations among the world's major industrial states.
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Crisis flags end of free market: Sarkozy
Are we seeing the untravelling of the greenback economy in realtime, that may in fact be aided by knee jerking panic?
About two days back Nancy Pelusi - us Democrates HR Leader came out and to say the party is over.
Despite some claims of bail out agreement, it may not be so - The Wall St crisis hangs in the balance despite talks. -
White House fails to reach bailout deal
I was thinking they look reasonably cheerful - maybe it's Nancy thinking "that's our boy over there and you've only got another forty days George" but then George could have been talking up a BBQ for Kevin is not only in town but in a day or so it seems he has become a global financial expert too -
Quote:
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Kevin Rudd went to New York to learn more about the financial crisis gripping the globe but has ended up prescribing a reform plan to help world leaders fix the problem.
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Rudd outlines financial fix to leaders
And meanwhile someone must have the $$$$ or be promised them to go buying, for just minutes ago -
The US government has closed struggling Washington Mutual, the second largest savings and loan institution in the United States, allowing banking giant JPMorgan Chase to buy its operations for $US1.9 billion ($A2.28 billion). -
US govt closes Washington Mutual
And so in this week that is and was never hoped for
. Malcom fesses up to having been dopey about dope
. A guy in the US has a real problem, having had his fella removed (cancerous) but seeing as he was out to it at the time against his local anaesthetic wish for a circumcism at age 61, he is of course suing anyone his lawyer no doubt thinks can be sued.
. I'll not bother you with the guy with an even bigger problem of rubbing a toy........
Bur through it all, oerhaps the most sensible comment seemed to come from a guy on SBS/CNN the other night and he looked old enough to perhaps have been born about the time of the great depression - his advice, and quite simple:
" any prop up monies by government gets applied for as a loan, to be re-paid with interest " - that has occurred in South American economies, back about the eighties and they're still surviving down that way.
Good to see that the FBI might have a few tycoons on their most wanted list.
So what do all you other budding analysts think of the scenario?
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