The other night I happened to tune in to PBS's "Now" with David Brancaccio. This week's segment had Kenneth Rogoff, Harvard economics professor and former chief economist of the International Monetary Fund, talking about the state of the world's economics. He spoke in a soft manner about the dire consequences of the toxic economic meltdown each and every one of us world inhabitants, will most likely be engulfed in. Mr. Rogoff tells it like it is. No soft peddling from this informative fellow who had once played chess professionally. With his chess ability to foresee things ahead of time, he contemplates a rough going for years to come and even if there is a light at the end of the tunnel it may very well be a massive fast moving train. This train will be in the form of a 9 or 10 trillion dollar debt that WILL HAVE TO BE PAID! All should listen to this interview, it may be alarming for many but that is exactly what we need to wake us from the 8 year long Dark Ages we've experienced. During which the supreme leaders told us all not to worry our little consumer heads about any threats; they would keep us safe, especially from the bad guys. All we had to do, all we should be concerned with, is going shopping and spending money. Money, not earned yet via plastic credit cards and loans. The irony of those years spent in the witless dark is…”THE THREAT”  these guys were protecting us from was a hobgoblin, compared to the real threat. Which was the very advice the boss men were giving us! NOT TO WORRY AND SPEND BABY, SPEND BABY SPEND. I'll bet all the hobgoblins are laughing their (sometime in the future, severed) heads off.
Please view video below.
thinkingblue.blogspot.com

Previewing the Superpower Summit

The world's economic superpowers are preparing to meet--will they devise a fix for the financial mess?

On March 13, financial ministers and central bankers of the world's economic superpowers will meet in London to lay the groundwork for next month's crucial meeting of their country's leaders, known as the G20. Will their work revolutionize the global economy and lift us out of this economic hole, or will politics get in the way?

David Brancaccio interviews Kenneth Rogoff, Harvard economics professor and former chief economist of the International Monetary Fund, about how high we should raise our hopes and what's at stake for America and the world.

Related Link

The London Summit