United We Stand!

I read a lot on the G7 Meeting and Plan to handle the World Mid-life Crisis, a specter where Currencies are beginning to act a lot like Commercial Stocks; they go Up, they go Down, they go Round and Round–where they stop, no one knows. It makes it somewhat difficult to assign Interest rates to those Currencies, where Returns are governed by Market flux. I do not think it need be mentioned that settling upon Commercial Contracts, the current State of Being makes Business Planning somewhat less than stable. The G7 says it has a Plan to introduce Stability to the Process, but like Mike Shedlock, I discern only further confusion by Spokespersons’ Statements on the Resolution. I think I would prefer a Statement from them claiming they do not know what to do, and so throw the Question open to Debate. Of course, that is asking the G7 to be more honest than myself; who knows Everything about Anything, but says little about a huge amount of it.

Those who remain committed to understanding of the G7 position can rely on David Smith, though it may not tell you as much as would be desired. Long-term economic performance based upon no defined factors, but Short-term weakness; okay, this may be a realistic presumption, Things are bound to get better sometime. Redefinition of Risk, de-leveraging, and accommodating balance sheet adjustments; translated to my mind as admission of losses, writing down of those losses, and cutting loose the bad Investments (socking it to Investors and Depositors); still with them on that! The third Step seems to be finding new Rubes to invest, while hiding the deficient skills of the Bankers who brought Us this mess; all without promise of superior future performance by any Participants. I guess I could accept that as a Plan, though I wonder if I would care to Invest.

The WSJ apparently claims that the G7 has taken a position to defend the sliding Dollar, though I did not read the article because of the Cost factor; something which I hope that the WSJ article may have entered into with vigor. Here again it seems that the Plan lacks for dissemination of details of the Dollar defense, else some commentary would be found in the blogosphere even on this boring Saturday. The Mysteries abound, though Things are going to get better, and if they do not; don’t blame the G7, who are trying hard to decline admission of distress and responsibility. Could I tempt Anyone with Taro cards or Crystal balls? lgl