I think Nicholas Sarkozy is the man to watch
Also this is from CNN International which does not get viewed here in the states

Over the past weekend there was an event that took place that caught my attention. There was a summit between European leaders and Asian leaders on the economic crisis that has threatened all economies. And as you can see there is a difference in philosophies between them and us that difference being regulation. Also as you can see there was no mention of this meeting in US media but you can only avoid inevitability for so long. This will prove to be interesting when the summit in Washington DC scheduled in November takes place.

In the US the thought is let the market take care of itself e.g. laissez faire supply side economics etc, etc, etc. Maybe I should say the current administration goes along with the Austria School of Economic thought. I ascribe to the Keynesian school of thought myself. And if this current economic crisis does not persuade one to rethink laissez faire then whatever floats your boat. In my opinion there is no such thing as a free market because as long as there is human involvement rules need to be applied. Now the degree of involvement, i.e. you can’t do anything unless you get government approval type of interference, can be argued but on the line of basic common sense rules that prevents the financial community from going overboard in their capital pursuits and recklessly endangering the economic foundation of a country I think is in order.

So in this corner or on this side of the Atlantic you have the let the market take care of itself and in the other corner or on the other side of the Atlantic you have the desire for more regulation. This could turn out to be the battle of the ideologies which could determine who really is the superpower. And you know it is just so sad to me to think of the last 8 years and the squander that has taken place under this current administration. The fake war in Iraq (God bless the soldiers), the false accusations of not being patriotic, etc, etc and now look at where we stand basically at the mercy of others.

More than being a historical event, the election of a democrat, no matter what his race background etc, is very important and with the elections at hand I hope the people can look beyond all the rhetoric, get to the truth and make an informed decision because we definitely need a change. And if we don’t get the change we need I feel we will truly be at the mercy of others.

Running in circles and running out of time

Like hamsters we are still spinning our wheels and going no where as far as I am concerned. I have yet to hear any mention of the w word that is wages. But hey whatever floats your boat. Yesterday I was listening to a congressional hearing and one of the congressmen said the same thing I mentioned earlier that the money that is being thrown at the banks and corporations is like putting your money in a bag with holes. And that is exactly what it is, putting money in a bag with holes because it is not and will not reach those who need to have so the wheels of the economy and get some grease and start moving again. The bailout money is only going to circulate at the top is only going to circulate at the top and will not reach the bottom.

It just does not take a rocket scientist to realize that if people do not get fair wages they will not have any money to pay their obligations and what is going to happen is after every thing has been done to help Wall St. there will be nothing left to help Main St. This is something I truly do not understand. And I know the economic theory to keep wages low is to prevent inflation but I would rather have inflation due to wages than due to a devalued dollar. And that is exactly what is happening is the dollar is being devalued tremendously due to these various fed facilities that are in reality replacing the investors that once purchased the securities that were issued by banks and corporations and in order to buy these securities the fed has to print money. And adding to that dollar printing is the dollar printing when the fed cuts interest rates and that further sinks the dollar. And so it goes…

Welcome to socialism according to this article

And a note to those who are concerned that socialism is taking over in this country, you're too late. Socialism happens all the time. You just have to be the right recipient. e.g. tax breaks, no oversight, etc., etc... the government's helping hand to corporate america.

And the next time you hear about the free market, forget about it. There is no such thing as a free market as long as there are human beings because eventually as is currently being played out there has to be some type of oversight to keep things from getting out of control. Anything that involves humans needs rules for guidelines. There will always be a need for intervention in markets at some point in time.

This is why you have to be careful how you treat others and be diplomatic