Whenever heads of state meet for one of their expensive “summits,” the conclusions are prearranged, and the report of the meeting written ahead of time. This time, since the G20 is in disarray over the global Greenspan depression, there was no report and no agreement. Bush said they all believe in more regulation to protect banks and other special interests from the market, and more money creation to fix a crisis caused by money creation. Interestingly, in the discussed bigger role for Keynes’s World Bank and International Monetary Fund, the US may no longer rule. The imperial financial crisis is wrecking the empire. They don’t call it a correction for nothing.

The Best of Llewellyn H. Rockwell, Jr.