Bush begged the G-7 to help fix America's economic meltdown. Like a drowning man trying to hang onto the back of a good swimmer, or like a criminal trying to bring in others to his defense, he pleadingly said "We're all in this together."
But nothing concrete came out of the G-7 meeting, as the European countries weren't willing to slit their own throats to help the U.S. Instead, right after the G-7 broke up, the European countries met in Paris and agreed to concrete proposals to protect Europe from the economic crisis.
In response, Paulson begged for a joint response:
"Appealing for global unity in a time of crisis, Treasury Secretary Henry Paulson said Sunday that isolationism and protectionism do not offer a way to contain the spreading damage."
Will Europe be able to save itself? Stay tuned for updates . . .
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5 comments:
Europe is just as FUBAR as we are because they bought up a bunch of those bundled up crap mortgages from us in the first place.
I don't blame 'em a bit for telling Paulson and Bush to go pound sand. That is what most people here are missing, this isn't just an American problem, it is a global meltdown and it is going to be a long time before this mess goes away, if it ever does.
As screwed up as our economics are right, Europe is in even worse shape. Logically, it would make some sort of sense to try a united approach to fixing this mess. I'm not saying I agree with throwing fake money at the problem here. But a united plan (based on something more than what I see so far) would be better. Europe probably won't be able to bring themselves to do that though. That pride thing. Everyone is screwed at this point and it's only gonna get worse. Glad you got your seeds. I think you're gonna need 'em.
The thing I keep thinking is this- Every time the European countries get their asses in a bind like this they start a war.jmn
After the little "Georgian war" Some EU countries wavered on allowing Georgia and Ukraine coming into NATO.
Germany has been adamantly against it from the start. NATO's Power is all but vanished, nothing to project but rhetoric.
Russia threatened to cut off Petroleum and Natural Gas supplies to Europe if Georgia and Ukraine were allowed membership. America lost valuable clout with Europe over this Georgia fiasco.
Well now our economy is a bust and Bush is begging for help from a Europe that America has pushed around since WW2. Bush has been snubbed and basically been told to go suck eggs.
I believe Some EU member countries, with Germany as its lead, will become more cozy with the Russian Bear. Its obvious America is a mere "paper tiger" having been cut off at its knees.
Our projected "power" in the World, is/was only fueled by our vast economy.
We as a "Super Power" are convulsing in death throes as our Economy, Institutions and Infrastructure fail. Our arrogant "Big Stick" bullying over our friends, allies and trading partners has left Europe and most of the world with a bitter taste for America.
Most of the world including "friendly" Europe no longer sees America as that last bastion of hope and freedom,...they see a power drunken nation bent on world domination and endless wars. A threat more serious to world peace than the mighty Russian Bear, or Islamic extremists.
Help us?.....hell, they cant wait to devour our carcass
HA! Their "globalist" agenda helped get 'em into this mess, but "protectionism" won't help.... What a crock. The NWO is gettin' scared that maybe the gig is up! Let's all hold hands, sing kum ba ya, and it'll all get better.
SCREW THAT! America needs to slam the doors shut, turn off the money tap, tell the rest of the world to kiss off, and take care of our own business!!! But will that ever happen? Holding....... my.........breath.................
Makes too much sense, and would help out Joe Six Pack, so it'll never fly. Keep on preppin', we're gonna need it.
Well, I think the Europeans are screwed no matter what we do. Or what they do. At this point it is just a matter of time. Just like 1929, Europe tried to stay out of it and got screwed.
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