What Does G-20 Promises of Debt Reduction Really Mean?

What Does G-20 Promises of Debt Reduction Really Mean?
By Lance Winslow

The G-20 Economic Summits are crucial to streamlining trade and money flows throughout the world. National Leaders need to be talking to each other, it is critical to maintain open communication, prevent political impasse, foster trade, and stop the marches towards wars due to misunderstandings, disrespect, or just plan hot tempers. Now then, some would say that the G-20 meetings are all of PR for the world media, and it is all a show. Indeed, I suppose in reality many of these large economic summits become more and more irrelevant each and every year.

What do the G-20 promises from these various governments really mean? What does it mean when a government says it will reduce debt? Well, that means that they will be giving less money away in political favors to their friends, and only be giving money now to their very best friends, and invent various fake crisis, political sound and fury, and created realities to do so. The political animal at that level is amazing to watch, and scary for many to contemplate.

Of course, another tactic to reduce debt in a nation is to tax one group of people, and redistribute that wealth to another set, or use it to pay down the debt. Taxation stifles free markets, investments, and foreign inflows of capital. With less economic activity, there is less to tax, and the vicious circle is a spiral, some say to hell, and I am one of those who believe just that.

When a government reduces its debt, that is a good thing for its balance sheet, and future, but in the short term it can really cause a cascading effect. It’s like a young family paying down their credit card debt, they have to go without, it’s not comfortable, sacrifices are made, but in the long-term it is a good thing. The reality is, they shouldn’t have gotten into debt or presented themselves to economic enslavement in the first place.

“What Does G-20 Promises of Debt Reduction Really Mean?”

Not much, just like most promises from any large bureaucratic organization or government are no guarantees. So, what was accomplished at the G-20 meeting? Not much, but hopefully those leaders are closer now, so they can pick up the phone now and again and talk to each other and prevent political impasse. And that my friends is good for all humans living on this planet. Please consider all this.

Lance Winslow is the Founder of the Online Think Tank, a diverse group of achievers, experts, innovators, entrepreneurs, thinkers, futurists, academics, dreamers, leaders, and general all around brilliant minds. Lance Winslow hopes you’ve enjoyed today’s discussion and topic. http://www.WorldThinkTank.net. Have an important subject to discuss, contact Lance Winslow.

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