Okay so quick blurb… last night swat in the streets and tear gas wafting through the air. Towers Lobby on martial law lock down… Whats the world coming to?…
I have yet to see the national news. I can only imagine what spin it has and what actual data it has on the G-20 instead of Joe Shmo who was protesting…. peace!
So traveling around Pittsburgh on friday evening was very eventful. Kinda felt like me and my friend were walking through a war zone or martial law. I encountered Hummers, armored personnel, and other military common items. It was funny because all this “safety” equipment made me feel extremely unsafe… anyone else??
So, I’m at work and probably shouldn’t be blogging nor watching the news.. but hey I work with cool people and their doing the same thing as me. lol
Okay so me and the front desk lady at my job are watching the news and we see the protests for the G-20 have started.. Go Figure.. lol ANYway, what made me laugh was the green peace protesters who hired or found some “professional mountain climbers” to hang a ginormous sign off the Westend bridge >> http://www.wpxi.com/video/21082904/index.html?CFID=192551&CFTOKEN=87316909 <<. For some reason I can’t stop laughing… I mean its one thing to take this seriously it’s completely another to dangle yourself off a bridge to get your point across… I guess this answers the question: if green peace hired you to jump “mountain climb” off a bridge, would you do it>?…. Somebody will apparently.. smh
Aa the g-20 met to discuss economic recovery, unemployment remains the largest threat to that recovery. High unemployment is expected to extend into 2011 and International Labour Organization (ILO) predicts that the unemployment will increase by up to 59 million by the end of the year. In addition, working poor could rise to 1.4 billion globally. Thus making unemployment one of the g-20 largest topics of discussion. The g-20 will continue to rely heavily on the ILO’s estimates and reports in their efforts to decreasing unemployment.
A French friend of mine who is studying at Pitt for the year found the hubbub surrounding the g20 interesting. We were worried about her getting sucked into the crowd, mainly because she didn’t realize the State Troopers meant business. I thought she’d be able to relate this to the Paris Riot Police (she lives in Paris) but she hasn’t had any interaction with them.
Huffington Post: G-20 Pittsburgh Summit: HuffPost Bloggers’ Analysis and Commentary
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Here are what some fellow bloggers are saying about the Pittsburgh G-20. Barry D. Wood’s article “Power Shift, the Stunning Rise of the G-20″, he made the claim that the G-20 has emerged as “he principal agent for coping with world recession and managing globalization.” He then continues in his article that the G-20 has much more legitimacy than the G-7/8 because it takes into account the developing markets of Brazil, Argentina, Australia, and India.
However, not all articles on this thread are “Pro-G20″ in fact many have negative commentary and question the purpose of it all together. There are also various Twitter posts connected to this, but I question how legitimate they are in respect to ground-breaking analysis
While surfing the Wall Street Journal, I found a neat article with the joint statement that the leaders of the G-20 plan to do in the upcoming months.
It’s a document that has the actions the leaders plan to execute, as the result of the G-20 meeting. Attached to the document is commentary from three economists sharing their ideas about the plan of action.
The Preamble article 5 states, “It worked” but economist Simon Johnson says this is just “self-congratulatory”.
The Preamble article 14 suggests that the G-20 wants to shift from public to private sources of demand and stabilize growth across economies while having as few imbalances as possible. Simon Johnson had this to say about it, “This is waffle; there is no beef here”.
The article continues for the entire 22 page statement with commentary at this link: http://online.wsj.com/public/resources/documents/info-G20-COMMUNIQUE0909-retro.html
The Financial Stability Board was created by the G-20 during their April meeting. the FSB is a bigger version of the Financial Stability Forum (created in 1999 to promote international financial stability by encouraging better exchange of information and international cooperation). Basically the FBS was created to identify financial issues and create action to solve them. the FBS focuses on the practices the largest firms and banks to prevent another financial crisis.
During the Pittsburgh g-20 meeting, the leaders continued to state the importance of the FSB in strengthening the international financial regulator system. I the Leaders’ Statement it states,”The FSB’s ongoing efforts to monitor progress will be essential to the full and consistent implementation of needed reforms. We call on the FSB to report on progress to the G-20 Finance Ministers and Central Bank Governors in advance of the next Leaders summit.”
The end of the pittsburgh g-20 summit brought the adoption of a Leaders’ Statement. This very long (approximately 23 pages long) statement summarizes the goals the g-20 had coming into this sept meeting, and what they accomplished during the meeting. Personally I think the Leaders’ Statement is organized very well following this format: Preamble (why they’re meeting, the current situation, and a summary of what they accomplished). A Framework for Strong Sustainable, and Balanced Growth, (this section discusses in detail the plans between no and the next meeting for economic recovery and growth) and so on. This adoption is extremely helpful especially for those who know nothing about the g-20. This Leaders’ Statement enables the average person to become knowledgeable about the current economic state, what is being done to improve the economy etc. To view the complete Leaders’ Statement: http://www.pittsburghsummit.gov/mediacenter/129639.htm
