G-20 gives $1 trillion to fight global crisis

Here's prediction: we'll see a faux recovery and with it a surge in energy and commodity prices. You can't invest in a system that doesn't work, without creating or enervating a new apparatus or installing new infrastructure (like rail, and public transport, and new urbanism). So what we'll see is the 2008 surge and crash repeared, only there will be very little finacial resources left afte rthis second crash to build or do anything. Collapse after this second crash will be self-evident, whereas now we're still caught in wishing for a possible escape. It's not going to happen, and the reason is we are stuck in an energy consumption scheme that has no future and we're insisting on maintaining the idea of suburbia and motoring.

clipped from finance.yahoo.com LONDON (AP) -- World leaders pledged $1.1 trillion in loans and guarantees to struggling countries and agreed Thursday to crack down on tax havens and hedge funds -- but failed to reach sweeping accord on more stimulus spending to attack the global economic decline. At the end of a highly anticipated one-day gathering, leaders of the Group of 20 nations said they would upgrade an existing financial forum to serve as an early warning monitor to flag problems in the global financial system. They did not, however, satisfy U.S. and British calls for new stimulus measures. Nor did European politicians get their goal of a global financial superregulator. "I think we did OK," Obama told reporters afterward. "We have agreed on a series of unprecedented steps to restore growth and prevent a crisis like this happening again... We have created as fundamental a reworking of resources to these international financial institutions as anything we've done in the last several decades."