Policy makers are “committed to a strong and coordinated international response to address the renewed challenges facing the global economy,” G-20 finance ministers and central bank governors said in a statement late yesterday in Washington. Many urged Europe to implement a July promise to expand the powers of a rescue fund, Japanese Finance Minister Jun Azumi said. (Source: Bloomberg)
They do not have a clue of what is going on, what the problems are, and the solutions needed.
They are a bunch of incompetent bureaucrats who were at the helm when the global financial crisis initiated.
They did not see it coming. Let alone solve it. But they are experts in setting up meetings in nice cities and publishing communiqués.
The markets will win and will force the solution in spite of their efforts. What we have to do is to find out how to survive and benefit from the mess we are in.
More on The Peter Dag Portfolio.
George Dagnino, PhD
Editor, The Peter Dag Portfolio. Since 1977
2009 Market Timer of the Year by Timer Digest
To find out more about my in depth views of the markets and my strategy just visit our website https://www.peterdag.com/ where you can subscribe to The Peter Dag Portfolio. You can also call me at 1-800-833-2782 to discuss your specific investment portfolio.
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