G-20 Fighting a Battle of Relevance

By Grant de Graf

I was always the flea in the chamber, when speakers called for a show of hands, for those in support of Gordon Brown's economic policies. I was always the one that chanted "Aye" amongst the crowd of heads shaking violently, from side to side. Frankly, I am beginning to tire of the Tories' mantra that Labor pushed the country into recession by supporting bankers who robbed innocent folk of their savings. Lest anyone should forget, the whole world went up in flames and anyone standing too close to the fire, was a casualty.

Ironically, I also supported Margaret Thatcher's policies. Britain had been crippled by the unions, and when she slew the serpent with nine heads, the economy breathed with a new sense of life. I admire Ed Miliband for his political conviction, but I think little of his economic perspectives and policies. He is a socialist that would bring Britain to her knees. Similarly, I cannot say that I support the Conservative's austerity. You don't suddenly turn off the Boeing 747's engine, when you are looking for an open field on which to crash land the kite [gently].

The WSJ reports that Gordon Brown's "biggest worry was the G-20′s failure to craft the “global growth pact” that would address the global imbalances of high debts and slow growth in Western economies and high savings rates, undervalued currencies and a lack of consumer demand in Asia and elsewhere."

Point taken, but I wonder what remedy Brown proposes. It's a bit like the rugby prop forward who kept complaining to the referee that his opponent was wedging his head into his chest. "He's boring, Mr. Ref. He's boring," the player protested.

"Well you're not too interesting yourself," quipped the referee. Much to complain about, but nothing much to say.

In defense of Brown, I have not read his latest book "Beyond the Crash" which may offer some gifted pickings or remedies for a troubled economy. Either way, I prefer to push the carrot [the solutions] rather than the stick.