An article appearing in the Montreal Gazette suggests Canada and other G20 members are ‘coming to terms with addressing global imbalances’. They quote Bank of Canada Govenor Mark Carney with being the mastermind behind this epic revelation.

I think the article should be renamed: The powers that be accept the powers that shall be - because this shift in global imbalance has already been happening for years and the Western world ‘coming to terms’ with this change is not newsworthy.

The story speaks about the US not needing to discuss their fiscal plan with the world and China’s decision not to mark its exchange rate against other countries. So really, where is the sobering truth being addressed? It’s not!

Large imbalances materialized as developed countries, led by the United States, spent beyond their means and emerging markets financed the bill through the purchase of government bonds — in the process accumulating trillions in foreign-exchange reserves.

BINGO! The main point of the story or what is called the lead (because it should start the article and not be buried deep within it) is right here!

The imbalance happened because developed countries went on a spending spree, exploiting other countries for years and now we are realizing that global imbalance needs to be addressed? Sickening really.

To help address the problem, there will need to be a shift in demand. Households in emerging markets, especially China, have to save less and consume more, and that will require Beijing to improve its social safety net.

Yeah, good call guys, China needs to save less and consume more. They are going to do that anyway! This is not some revolutionary concept. Emerging nations are going to consume at a higher pace than Western countries ever did because for so long they struggled to develop while developed nations produced material waste which was manufactured in these 3rd world countries.

If I came into your house, took a massive dump, and clogged your toilet, wouldn’t you be a little cheesed off too?

Meanwhile, developed economies, led by the United States, have to get their budget balances back on track, and start producing more goods for sale abroad.

So the United States is going to start producing more goods for sale abroad? I don’t think so.

US plants are closing down fast while emerging nations who were working all these years to be more efficient to meet US consumer demands have become experts at production. Why would these developing countries buy products from the US when they can create cheaper with little to no import/export fees involved and minimal pollution?!

The Western world can feed me this story about Bank of Canada’s Mr. Carney and the G20 coming to terms with global imbalance but it doesn’t make a difference because as we the West lose power, the media will not be able to lie to us any longer about how much influence we really have anymore.

The Gazette article was meant to be an objective news piece as I did not see any signs of it being called an opinion-editorial piece – yet the rubbish which appears within it, although optomistic, is unrealistic and only attempts to blind us like the sheep they think we are.

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