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connellc's avatar

When the G20 convenes in Korea... should world leaders loosen up on credit? Are more safeguards in place? I'd like for the world to pull out of this recession someday.

Asked by connellc (32points) July 17th, 2010

In Canada in June, I had heard that the G20 favored tightening up credit. Problem is, when such a tight attitude towards credit prevails, that may deepen the world’s recession. What do you think?

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3 Answers

mattbrowne's avatar

They should come up with strategies to slow down the creation of speculative bubbles.

Ron_C's avatar

I think that the G8, G20, WTO, and World bank should either be abolished or the world bank purged of its conservative operatives.

The “G” nations sole purpose is to divide up the globe, WTO brings more misery than help. The World bank would be better off if it concentrated in establishing middle class citizens instead of propping up dictators and royalists.

SquirrelEStuff's avatar

What do world leaders have to do with loosening or tightening up credit?
Aren’t the banks in charge of that?
Aren’t we in the situation we are in right now, because credit was loose to begin with?
Why do we even deal with credit anyway?
When will people realize, that all credit means, is debt? People and countries are already in too much debt. How does creating more credit, aka debt, help an economy that is already in shambles because of that very reason?

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