Obama To Talk “Global New Deal” With UK’s Brown: Security For Families In Every Country

UK Prime Minister Gordon Brown hopes to cut a deal with Barack Obama in Washington this week, to call for a “Global New Deal” to lift the world out of recession. Brown has hinted that he is ready to make further tax cuts to boost the UK economy. If only Barry would take a tax-cut hint from Brown! He won’t, and tax cuts are unlikely to be a big topic of their conversations.

Brown will meet Obama tomorrow, and address a joint session of Congress on Wednesday. Aides say Brown has to both demonstrate to skeptical Brits that he commands Obama’s respect, and to persuade the American political establishment that global action is needed to rescue the US economy. Brown is under pressure to convince US political leaders to sign onto bold goals at the upcoming G20 summit of industrial and leading developing nations, to be held in London next month.

The UK Times Online says the prime minister will borrow from the rhetoric of Franklin Roosevelt, who introduced the government-financed New Deal to tackle the US Depression of the 1930s. He will argue that his 21st century “global new deal” will also require public spending on a huge world-wide scale.

In yesterday’s Sunday Times, Brown called for “universal action to prevent the crisis spreading, to stimulate the global economy and to help reduce the severity and length of the global recession”. Sources said that, while no final decision had been made about further tax cuts, the prime minister would do “whatever it took” to pull the UK out of recession.

Wonder how much THIS collaboration will set us back? The economic crisis IS global, because the infected institutions are global. The rest of the world correctly looks on CDOs and other derivative securities as American inventions. No one put a gun to anyone’s head to force them to play the game, but they did…and now they want us to pay. The world followed the US model of taking assets, distorting their “safety” through insurance from companies like AIG, and MBIA, and inflated ratings by Standard & Poor’s and/or Moody’s, then jacking the leverage to the moon. They blame us for their own folly of mimicking us. They think we owe them.

I have no doubt that the pesky currencies will be discussed at great length. The EU has some unhappy members, particularly Germany, who aren’t wanting to bail out Eastern Europe. It’s harder for the EU to do “quantitative easing” like Japan and the US are doing.

Despite how Germany feels about being tied to a single currency, a single global currency would, in many “progressive” minds, solve a lot of problems. Look for the pressure to grow, as Geithner has already promised to coordinate with the G-7 on the manipulation of the economy. The upcoming G-20 should be a REAL party. We may never be the same again after that pow-wow, and we as citizens have no say in what is agreed upon in those global treaties.

One World Currency. Coming to a nationalized bank near you.

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