April 11, 2008
Sunny Optimism
The WaPo highlights "A Weekend to Start Fixing the World"
Financial markets are tumbling. The world economy is starting to sputter. Food prices have shot up so far, so fast, that there are riots in the streets of many poor nations.It's a hard time to be one of the masters of the global economy.
Those leaders -- finance ministers from all over the world -- are gathering in Washington this weekend to sort out their reactions to the most profound global economic crises in at least a decade. The situation could reveal the limitations that international economic institutions face in dealing with the risks inherent to global capitalism.
Don't buy any green bananas, kids, this old world is not gonna be around much longer.
Sadly, the real threat is that our 535 world fixers in Washington (before the guests arrive) will read the WaPo and feel compelled to do more fixing. Starbucks has capitulated to Lassez Faire, lets think about calming down and giving markets a chance to work.