Ok, now I've had time to have a think about it and go through what happened this week at the G20, I've come to one firm conclusion: Our politicians haven't reined in their Egos at all.
I blogged here that I thought the credit crunch was caused by massive egos. The same goes for the failure that is the G20 summit.
All it's been is a platform to massage the egos of 20 national leaders. So they can display and grandstand about how they "fixed" the credit crunch, without actually committing to any real new initiatives.
The credit crunch hasn't finished. Its reached a plateau, but the signs are that without regular injections of cash, things will start to slide again. I don't see any indicators of stability in markets, nor indicators of confidence anywhere that would lead me to believe we've hit the bottom.
Basically the world economy is on life support. What you have to ask your self is why. What are the motives behind pumping trillions of pounds, dollars or Euros into a sick, possibly terminally ill system?
What are the world leaders waiting for? Why the desperate measures (including printing non-existent money) to delay the inevitable?
Are they so stupid that they can't see what I see and fail to realise that splashing cash around isn't the answer? I really don't believe that. No, there needs to be a reason, a bloody good reason why they're doing it.
But I guess to the elite, Egomania is as good a reason as any.
Its like buying a Saville Row Suit, an expensive car, or a big house: its the feel-good factor. Its intoxicating to meet powerful people, eat good food, and delude yourself that it'll never end. so long as you can take money from your electorate, take more than you need in the form of salary and expenses, then hand the rest over to banks to squander and keep the system going, everything is wonderful.
But just how long before the people of the world wise up? I hope its very, very soon.
St. Giles knocks ‘em Red in the Aisles. - “If Paradise is half as nice” as Amen Corner, one of those forgotten bits of Wren designed gentile London, whence Giles Fraser was once privileged to lay h...
3 weeks ago