When will those financial woes ever end?


It just keeps going and going and going.

World Bank chief Robert Zoellick:

“Europe, Japan and the United States must act to address their big economic problems before they become bigger problems for the rest of the world,” he said at the opening of the World Bank-International Monetary Fund annual meetings in Washington today.

“Not to do so is irresponsible,” he added.

“Some developed country officials sound like their woes are just their business. Not so,” Mr Zoellick said as he warned poorer countries of the fallout that could come from the advanced economy crises.

He said he still believed that a return to recession in the US, Europe and Japan is “unlikely”.

“But my confidence in that belief is being eroded daily by the steady drip of difficult economic news.”

“The world is in a danger zone,” Mr Zoellick said.

“In 2008 many people said they did not see the turbulence coming. Leaders have no such excuse now.”

No worries. Wayne Swan is here to save the day.

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    • Winston Smith
    • September 23rd, 2011

    Peter Costello saw it coming in 2006, I think. It was pretty damn obvious to anyone following the the Community Re-Investment Act in the US.

    • Yes. The CRA. Started by Democrat FDR, ramped up by Democrat Bill Clinton. Fannie and Freddie. And to think as a lawyer, Obama sued Citi for not doling out more subprime loans whilst his Democrat buddies blocked the passage of Bill s.190 that would have reined it all in.

      • It will only end when the country no longer exists in its current form. The takers will have nothing to take, and will be easy fodder for the producers. It will be bloody, but as long as one side plays by the rules and the other does not, the inevitable result is the demise of the host.

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