Whilst I love seeing headlines like this

Leaders at the G20 summit in Canada agree the richest members will halve their budget deficits within three years.  (BBC News)

They beg the questions

  1. Where is all that money coming from (or not going to)?
    Are they going to be creating wealth and making savings (“G20 stop being consummate consumers”), or will they just call on those countries who are in debt to them? (“G20 agree to deepen economic sorrows of the globally worst off”).
  2. If they can do that, why didn’t they do it before, or not get into the situation in the first place? (“G20 agree to do their job properly at last”)
  3. Why does it take agreement to make it happen? (“G20 members lack the courage to act alone, and are reassured by their cartel membership”)

All rather negative for a Monday morning, on what should be a good news story. Sorry.

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