Well, the G20 summit has finally ended.
It has been hailed as a success, with our own Prime Minister saying the measures agreed on, would shorten the recession and save jobs.
I have only read the details briefly, but I am still trying to get my head around how many zeros follow the 1 in a trillion. Amazingly, $1 trillion is the figure that the G20 countries are going to make available through the International Monetary Fund (IMF) to boost the world economy.
Where is that money going to be found? Does each of the G20 countries throw into the hat and if so, where do we find our share? Does this mean we have to borrow even more than we already have and who do we borrow it from? Surely, the banks are claiming to be broke?
I am confused, for if borrowing beyond our means is the wisest way out of this financial mess, am I wrong in thinking it was just such an act that got us to this position in the first place? Surely, borrowing will just postpone the final pain of having to balance the books again?
I know that any business in this country would not be permitted to act in such a way; they would be declared bankrupt without a second thought.
I only hope the G20 leaders and their advisers, have a better understanding than the majority of their voters.
My worry is that the air at the summit was so thin they have all been hallucinating.
If so, we are the ones who are going to be very sick!!
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