Since first taking a no-protectionism vow at a summit meeting last November, the world's 20 major economies have been responsible for as many as 121 "blatantly protectionist" measures, with 134 more in the pipeline, the organization Global Trade Alert states.
"The real economy may now be shrinking at a slower rate, and a recovery may be in view, but unemployment will continue to rise for some time to come. Pressures to protect jobs at home will grow and governments will find these pressures difficult to resist," said the new report.
This is what I have been saying all along. Just look at any trade number. The Baltic dry cargo index is way downstairs, and every country handing out reports is saying both export and import is going down. And it is bound to get worse the more time that passes, just as during the great depression (soon to be renamed to the “Minor one”) such actions will slow the potential economic recovery and worsen the situation.
Oh, what a glorious feeeeeeling…
And from all over it’s streaming in demands and prayers to these übermench with the hope of them granting some of these wishes. They need to save the economy, protect the environment, hand out fuzzy slippers and do lots of stuff.
I am so looking forward to this next G20 meeting where our enemies - again! - will reassure us that they want free trade, and that more stimulation is needed to save us all.
… I am haaappy again…
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