September 19, later this week the Group of 20 developed and developing economies will meet in Washington DC. The main issue, as always, the collapsing global economy.
Actually the main stream western media wants you to think the “global” economy is collapsing, in reality it’s just the ‘western/capitalist’ economies that are going down the toilet.
Demands from the European Union, United States and Japan are revealing how bad the situation is: “The consolidation plans to be undertaken in most EU countries, in the U.S. and in Japan need to be accompanied by appropriate policies in other regions of the world so as to avoid an undesired compression of global demand.”-European Union statement
What this means is that the economies that are going down the toilet need more help from the economies that are actually booming (the “other regions”). Basically the EU, U.S. and Japan have become beggar they neighbor nations; needing to borrow from the wealthier BRICS (Brazil, Russia, India, China, South Africa), just to survive.
In order to get the much needed cash, expect the EU, U.S. and Japan to make some huge concessions at this weeks G20 meeting. One thing China and Russia would like to see is a new currency to replace the U.S. dollar as the World’s reserve money. It’s unlikely the U.S. would support that, ’cause it could make the economic situation in the U.S. even worse.
However, the latest European Union statement indicates that if the EU, U.S. and Japan don’t get financial help from the BRICS, then it could be lights out for the ‘West’.