Financial Crisis: Sustaining Unsustainability

$1 Trillion more to sustain the economic crisis. G-20 message to indebted countries. "Drop Dead!"


by Prof. Michael Hudson
Global Research, April 4, 2009


Not much substantive news was expected to come out of the G-20 meetings that ended on April 2 in London – certainly no good news was even suggested. Europe, China and the United States had too deeply distinct interests. American diplomats wanted to lock foreign countries into further dependency on paper dollars. The rest of the world sought a way to avoid giving up real output and ownership of their resources and enterprises for yet more hot-potato dollars. In such cases one expects a parade of smiling faces and statements of mutual respect for each others’ position – so much respect that they have agreed to set up a “study groupâ€