The slowdown in the speed of collapse of the global economy (1), at the origin of all the « good news » (2), is only due to the world's enormous public financial effort of the last twelve months (3). But the « time saved » using taxpayers' money around the world should have been dedicated to redesigning the international monetary system at the heart of the current systemic crisis (4). Yet, besides a few cosmetic considerations (5) and huge gifts to US and European banks, nothing serious has been undertaken(6), and, when it comes to the future, the « every man for himself » rule prevails (7).
The last G20 summit of finance ministers provided evidence of the fact that, without this support, the economic collapse would soon resume. For this reason, they agreed to the prolongation of their support policies of all kinds (subsidies, stimulus plans, central bank interventions, Treasury purchases, money-printing…) whilst trying to bring the media to give headlines on their debate about a “coordination of crisis exit strategies ». Instead of talking about the dull present, let’s talk about a bright hypothetical future (8). This is a classical method when a power is at a dead-end.
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The last G20 summit of finance ministers provided evidence of the fact that, without this support, the economic collapse would soon resume. For this reason, they agreed to the prolongation of their support policies of all kinds (subsidies, stimulus plans, central bank interventions, Treasury purchases, money-printing…) whilst trying to bring the media to give headlines on their debate about a “coordination of crisis exit strategies ». Instead of talking about the dull present, let’s talk about a bright hypothetical future (8). This is a classical method when a power is at a dead-end.
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