Core frameworks for Kevin's agenda

The following is from Australian Prime Minister Rudd's recent joint press conference with British PM, Gordon Brown with ShadowLands' comments in italics:

PM RUDD: On the question of a global strategy for economic recovery, the first thing to note is what has been achieved so far. It is important to ask this question: where would the global economy now stand if the $2.5 trillion dollars worth of stimulus to which the Prime Minister just referred to had not been injected?

Okay, wax breath, where would the the global economy now stand without the stimulus? Not with our grandkids' up to their necks in debt, I suppose.

That is a very important consideration and secondly had central banks not been working with each other in terms of co-ordinated action on monetary policy change. These are sizeable, substantial achievements.

Hang on a second, aren't you going to answer the first question? And since when is wasting money a substantial achievement? I take it you attended the Imelda Marcos School of Economics.

We go to the ingredients of what’s on the table now, which is an international framework for dealing with impaired assets on bank balance sheets. The core of the economic problem never before in modern economic history have banks and governments agreed between themselves a framework for dealing with this core part of the economic impediment to recovery which is restoring our banks to health. Here, the United States and in Europe more broadly.

We go to ingredients on the table? The core of the problem for dealing with the core part? WTF are you on about? And you mean not in countries other than Europe or the United States? Pardon?...

On top of that, and as the Prime Minister has just referred to, a coordinated frame work for dealing with regulation for the future for the financial system more broadly, and to act as appropriate in the future on further stimulus given the challenges still. I think it is important for us all to frame very clearly these alternatives. One approach is to stand back and do nothing and let the markets rip and we’ve seen what’s happened with that in the past, or alternatively, governments, nationally and internationally, acting to step into the breach.

As opposed to acting inappropriately in the past on uncoordinated frameworks with local governments, WTF?

And on these core elements of this emerging global strategy for economic recovery, progress has been achieved, progress will be achieved in London and further progress will be necessary as the year progresses as more data emerges about the challenges in 2010.

There was progress before the meeting, there will be progress at the meeting, and then progress is necessary after the meeting? Will there be progress inside and outside, underneath and above the meeting as well?

Take my word about this cerumen lips, one of the key pieces of emerging data will be that we're broke, and you have put us all in hock to the Chinese. Tool.