Finance Ministers Gather as Time Runs Out

The U.S. stock market has been on a positive run this week ending up over 5%....so not quite as much focus of late on the ugly balance sheet of the USA.

However, Europe continues to be in the pressure cooker and this headline seems prophetic in more ways than one.

G20 finance ministers gather as time runs out

Global imbalances are as entrenched as they ever were. Budget deficits dominate the political agenda, with countries from the US to Italy to Greece still grappling unsuccessfully with their debts. Trade imbalances continue to warp economies, as consumer-heavy nations try to kick-start their manufacturing engines and exporters try to trigger a consumer boom.

Under huge international pressure to unveil a viable rescue, from President Barack Obama to David Cameron to Brazilian finance minister Guido Mantega, President Sarkozy simply can not fail. Traders, economists and bankers are all agreed – if the proposals at Cannes do not go far enough, it will be final proof that Europe’s political troubles are intractable. In that case, it will be open season on the euro - and the Cassandras can get out their Armageddon spreadsheets.

Four frantic weeks start this weekend.

See it here;  http://www.telegraph.co.uk/finance/economics/8825570/G20-finance-ministers-gather-as-time-runs-out.html

Holy Armageddon Spreadsheet!  We only have 4 weeks left til this whole house of cards comes apart in Europe and then spreads to the USA and every other Western economy?  Then what?  Can't they just print some money and fix this whole thing?  Can't the governments just order all the corporations to hire a bunch of people to do something and pay them salaries with benefits so we can all get back to consumerism?  When will this all get back to normal?