That's right, the G20 is fixing the entire Global Economy right… now! There, did you feel it? All better. I for one am so relieved I'm going to take all of my cash off the sidelines and buy overpriced stocks – how about you? This morning, our fabulous 20 World leaders took time off from solving ISIS and Climate Change to issue a communique declaring their intent to raise the GDP of our entire planet by 2% by 2018 "as announced in Brisbane last year."
As I noted in our Morning Alert to Members, this is the same goal they have miserably failed to accomplish for the last 7 years but hope springs eternal I suppose – I just wish I was still young and stupid enough to believe that our leaders were somehow wise enough to solve ONE of these issues – let alone all of them. Just check out item number 6 and tell me how much confidence you have in getting this accomplished:
6. We are committed to ensure that growth is inclusive, job-rich and benefits all segments of our societies. Rising inequalities in many countries may pose risks to social cohesion and the well- 2 being of our citizens and can also have negative economic impact and hinder our objective to lift growth. A comprehensive and balanced set of economic, financial, labour, education and social policies will contribute to reducing inequalities. We endorse the Declaration of our Labour and Employment Ministers and commit to implementing its priorities to make labour markets more inclusive as outlined by the G20 Policy Priorities on Labour Income Share and Inequalities. We ask our Finance, and Labour and Employment Ministers to review our growth strategies and employment plans to strengthen our action against inequality and in support of inclusive growth. Recognizing that social dialogue is essential to advance our goals, we welcome the B20 and L20 joint statement on jobs, growth and decent work.
Apparently, if the G20 is going to grow the global economy at a 4% pace, they'll have to do it without the United States, as the Congressional Budget Office forecasts just over 2% growth in the US in 2018 and forward and…