Thursday, 2 April 2009
In depth reporting of the G20 summit by the BBC....
The BBC's reporting of the G20 summit is a must read to understand the economic crisis.
The BBC wants to know - Is Gordon Brown the biggest winner of the G20 summit? He must be because he still has a job after it all went wrong - on his watch.
The BBC wants you to know that the G20 family photo had to be taken twice and moreover the BBC has a G20 spouses quiz! I am speechless.
Surely the material available as a result of the economic mess we are in is a reporting goldmine...One only has to scan some of the facts:
According to the Bank of International Settlements (BIS) the 2008 Monitored Derivatives is valued at $680Trillion. Compare this to the 2008 World Capital base of $53.5Trillion, our planet is 12 times over its head.
Note, if you're lucky, your mortgage lender will lend you three times your salary. Get this, the BIS figure above is an estimate. No one truly knows the planets exposure and we now have evidence no one wants to address the underlying issue. Surely if you are over your head you need to know exactly by how much before you spend any more money on the problem? For all we know we could be dousing the fire. There has to be a story in here somewhere?
My view is the summit is a clear example that we don't have the right people running or reporting the planet nowadays....