G20 carves out some more wiggle room on austerity plans

Comments (4)
usagadfly wrote:

The world needn’t worry — US military spending will continue unabated into the future, and the former middle class here is already so broke they cannot buy much already. No income, no income taxes.

It does not matter what happens in the so-called election. The results are rigged already and the policies no different anyway.

Nov 04, 2012 8:47pm EST  --  Report as abuse
TheNewWorld wrote:

@usagadfly

Shhhh. Americans are supposed to believe that thier party can fix everything, and the other party is the reason the US and the world is in such a mess. And shame on Reuters and the G20 for pointing out that the biggest issue facing the US and the world is our deficit and debt. Obama and Romney surely could care less about it as evidenced from the debates and their campaigns.

Nov 04, 2012 9:43pm EST  --  Report as abuse
Mott wrote:

US can draw some lessons from the developing nations that have gone through these cycles and settled in a stable model with the use of instruments such as -

- Core set of banks nationalized
- Imposed across the board VAT of the order of 17% or more
- Imposed ceilings on land/property ownership
- Imposed luxury taxes
- Held the economic-criminals at the root of massive corruption and fraud, acountable

Short of that, these banks that are lending recklessly to uncle Sam that’s already broke in a big way with relatively worthless IOUs of US public, are to take the blame on none other than themselves and there won’t be any bailouts or support for any austerity measures.

Nov 04, 2012 11:02pm EST  --  Report as abuse
tmc wrote:

TheG20 assembly has proven itself to be worthless. Just a vacation for politicians and their families.

Nov 05, 2012 8:01am EST  --  Report as abuse
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