G20 accounts for 85% of the world economy – can it really stop the coming depression of the millennium?
Paula Zuba
Sep. 26, 2009

The G-20 accounts for about 85 percent of global gross domestic product. Its members are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, South Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the U.S., the U.K. and the European Union.

Its newly found recognition in Pittsburgh is interesting. Can G20 really anything better than the failed G8?

The mixed economic environment and rising unemployment are leaving governments with no option but to keep up their support of banks and fiscal stimulus, which totals more than $2 trillion, even as their debt mounts. They promised to develop a plan for withdrawing the aid when expansion is secured. Can this really continue for ever? How long will it really take before G20 loses its so called newly found credibility?

The worldwide economic depression is effect of uncontrolled debt – an American phenomenon designed to bring so called false hope of American dream to every one who believes in fairy tales in real life. But economic reality is not Cinderalla or Snow White. The fact is that the developed economies have failed and world is plunging into very long term depression.

G20 accounts for 85% of the world economy – can it really stop the coming depression of the millennium?
Paula Zuba
The worldwide economic depression is effect of uncontrolled debt – an American phenomenon designed to bring so called false hope of American dream to every one who believes in fairy tales in real life.
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Federal Reserve under pressure from Congress to disclose identifying borrowers from its regular lending programs
Fred Day
Rep. Barney Frank (D., Mass.), chairman of the House Financial Services Committee, said the central bank's loans and securities transactions should be disclosed, with a lag to avoid a short-term influence on financial markets.
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G-20 Summit acknowledges the concerns expressed by developing countries, including India, over an early and co-ordinated phase-out of stimulus measures
Kirit Chauhan
G20 has reached a broad agreement on the need to let individual countries decide on the schedule for phasing out the fiscal stimulus measures their governments had introduced in the wake of the economic downturn that engulfed the global economy last year.
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Next phase of financial meltdown to start now - In the U.S. and many other countries, the too-big-to-fail banks have become even bigger: Joseph Stiglitz, the Nobel Prize- winning economist
Marla Guthrie
The biggest financial financial downturn is about to start. The unemployment may shoot to 20%, most major banks will fail. Dollar will collapse. Stock market will crash. Real estate will get wiped out.
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Start of US-China trade war - China retaliates by starting probe into the alleged dumping of American auto and chicken products
Fred Day
The well predicted trade war has finally started. The U.S. placed tariffs starting at 35 percent on $1.8 billion of tire imports from China, backing a United Steelworkers union complaint .
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With such staggering budget deficit why is gold market not taking off? What will happen to gold price in the next 12 months?
Peter Oberois
Underemployment is saturated. There are not many people left to be underemployed any more. The commodity inflation will continue. The budget deficit will grow more rapidly as underemplyment erases the tax base ...
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