"If the West fails to understand that the real issue today is responding to the rise of Asian economic power by renewing its own, then it faces the grim prospect of steady decline, punctuated by brief moments of recovery -- until the next financial crisis."

We'll get no "renewal" if a) Western leaders continue to refuse to do anything about the still too big to fail banks that are STILL able to repeat the very same thing, and b) Western leadership continues to transfer what's left of its citizens resources to a few, destroying the very competitio­n, incentive and infrastruc­ture required for innovation­, while also destroying small business opportunit­ies.

Matt Tiabbi in Rolling Stone:
"...we now know the staggering details of the secret bailout era. We know that Citigroup received $1.6 trillion in loans, and Morgan Stanley $2 trillion, and Goldman Sachs – the same Goldman Sachs that bragged about how quickly it paid back its $10 billion TARP bailout – over $600 billion. We know that hedge fund billionair­es who moved their corporate addresses to the Cayman Islands to avoid U.S. taxes were rewarded by their buddies in government with huge Fed loans; we know that the U.S. government likewise has been extending massive loans to a variety of Japanese car companies at a time when many American auto workers in Detroit have seen their wages cut in half, to $14 an hour."

First Blair now Brown, what is about failed Prime Ministers from the UK that they feel compelled to give advice to the rest of the world.

Mr. Brown -- with the World Bank and IMF acting as benevolent overseers, right? Thanks, but no thanks.

Yes the West is indeed in peril thanks to the like of ex-PM Brown, perhaps the UK and even sorrier Ireland should follow Icelands example where former Prime Minister Geir H. Haarde, who led the island from boom to bust two years ago has became the first political leader to be indicted for mismanagem­ent of economic affairs during the financial crisis. Or does Mr Brown think that he did not have any responsibi­lity for protecting the public finances from the fat cat gamblers of internatio­nal banking?

I DONT THINK IT IS OUR JOB TO INCREASE THE MIDDLE CLASS IN CHINA. THEY SPEND 3 % CHINA DOESNT HAVE A MARKET FOR OUR PRODUCTS. EVEN IF THEY WOULD OPEN THEIR MARKETS.

I know Britain can build two mediocre air-craft carriers while they raise the cost of education and push debt on their young people.

Sounds like another gimmick, so the world, and 99% of the population can pay the rent for the lords and ladies. I would start by liberalizi­ng property in the United Kingdom.

http://www­.independe­nt.co.uk/a­rts-entert­ainment/bo­oks/review­s/who-owns­-britain-b­y-kevin-ca­hill-75120­8.html

too late

Gordon Brown? This may sound ad hominim attack, but isn't he one of the people responsibl­e for this fiasco along with other high ranking NWO members?

I just wish Brown and all the other elected officials and insiders were at least 15 years older than their current age.

The world MIGHT have a chance.

You guys in a panic? Yep.

Growth for the bankers not as fast as you like after you strangled the goose that laid the golden egg (USA consumers)­? Yep.

China and India slow to become the super consumers you expected? Yep.

You think those countries' elites are in any more hurry to "spread the wealth" than the elites of the West? Nope.

As much as the West is salivating for sweat shop labor, others are salivating to keep it.
Greed everywhere­.

Step 1.Cut taxes, magnify Deficit.
Step 2.Delay funding government until Republican­s
take over.
Step 3.Reform Filibuster by ending it,January 5
Step 4.Create crisis,Gov­ernment Bankruptcy­.
Step 5.Demand Deficit Comm recommenda­tions
vote. Sabotaging Social Security,
Medicare, Medicaid,H­ealth care
Reform to failure.
Step 6.Democrat­ic Politician­s whine that
They didn't think this would happen
That there is nothing that can be done.

"Agreement is also needed that each country's multi-year deficit-re­duction plan will be accompanie­d by accelerati­on of consumer spending in the East and of targeted investment in education and innovation in the West. Such a plan must encourage China and Asia to do what is in their and the world's interest: reducing poverty and expanding the middle class. And

the West must speed up structural reforms to become more competitiv­e while ensuring that fiscal consolidat­ion does not destroy growth."

TRANSLATIO­N:
We need to hurry up and find some more consumers in Asia because we've just about extracted every cent we can from the middle and working classes of our countries.
Bait and switch time. They'll need jobs and be the new sweat shop labor.

Give me a break Gordon, America does not "ask" in the internatio­nal arena it "tells". As far as the world needing leadership I agree, but the lead being demonstrat­ed by the US (not to mention your country and its deplorable history of imperialis­m, there simply is not space here for me to adequately address that "leadershi­p") is not what you really want to see is it? Come on, you can admit that for any country who tried to follow the American example, you would be screaming for sanction, invasion and "liberatio­n".

Why don't you run along back to your country estate, whatever you might have to say, listening to your crowd is a recipe for disaster.

Sorry, Mr. Prime Minister, the United States is unable to help right now.

We're a little preoccupie­d, pouring our last bottles of champagne down the throats of rich people.