MIRROR, MIRROR, TELL ME: WHO IS GOING TO SAVE THE WORLD?

G20 meeting is over. If we leave aside the protests, and casualties; What was new to bring excitement for saving the world?

We were already informed of several strict issues of bad hedge funds, credit rating agencies, tax havens; controlling banks and avoiding protectionism. The main new thing was he $1.1 trillion figure spelt to fund IMF and international trade. We are now kind of used to spell “trillion” from U.S. bailout programmes but the initial $250bn IMF funding budget was moved upwards to $1.1 trillion that will be another unforgettable number when history of credit crunch recession is written.

Stock markets welcomed the meeting though. The positive side is the determination of developed economies to fight the recession – a must to bring back the confidence -the negative side is the future burden the funding will bring on taxpayers. Now that the unemployment is on the rise, investment is scared, automatic stabilisers of lower tax and unemployment benefits should play their role until the economy comes back to life. Adding to this the stimulus spending and the result is a big future burden on taxpayers who do not have the option to invest their money in less/more risky ventures unlike shareholders.

Who is going to save the world? When comparing to team of policy makers of Great Depression, Churchill, Keynes and Hoover; Churchill voted at the top of the Great 100 Britons; Keynes, one of the best economists; [CORRECTION AS OF 11/04/2013:
Keynes's two quotes makes his world view to look one of the best. His economic policies are inefficiency, lack of competency and disastrous for 21st century]. downward spiral of Great Depression went on under Hoover bringing Roosevelt.

Roosevelt created the New Deal to provide relief for the unemployed and recovery of the economy. He was ranked as one of the greatest presidents of U.S.