Brazil's Lula Says World Headed For 'Bankruptcy' Unless Rich Nations Act

SEOUL (AFP)--Brazilian President Luiz Inacio Lula da Silva said Thursday the world economy was headed for "bankruptcy" unless rich nations raise consumer demand rather than relying on exports to power recovery.

"If they don't consume, and they just bet on exports, the world will go into bankruptcy," he told reporters as leaders at the Group of 20 industrial and developing nations headed into a two-day summit in the South Korean capital.

China lashes Fed easing as risk to global recovery

China said on Thursday that the U.S. Federal Reserve's move to ease monetary policy risked undermining the global economic recovery, adding that Washington "should not force others to take medicine for its own disease".

FINE.

Solution 1: As of 1 year from today, all imports based on/synthesized from, or manufactured with derivatives of petroleum products are banned. The federal govt will guarantee the loans of all businesses which do NOT receive outright grants from it -which start up new production domestically to replace these products. All new workers must be US citizens, HI-B, or commit to the process of naturalization. Grants to be paid back over 5 years after a 5 year moratorium on any corporate taxes due from these activities.

Solution 2: Congress shall be required to RULE on all nations we trade with on the issue of whether or not those trading partners allow their currencies to float in the free market, and if their workers are treated with the same LEGAL REQUIREMENTS WE ENFORCE. Those nations who benefit from trade with american consumers must adhere to american standards for their workers. Those nations who fail either or both these tests have 2 years to cure the defect or they are EMBARGOED.

That should do exactly what both nations bitching are complaining about. All the new US production will put money in the new pay chains from hiring to serving the newly hired, and raise US consumer demand.

Chinese factory workers will enjoy the same conditions as unionized and non unionized American workers in the Hyundai factory in Alabama, and China will allow the renmimbi to float to it's real value thus helping greatly to stabilize the world currency situation and forcing america to 'take it's own medicine.'

The American consumer's debt is
NOT THE WORLD'S PIGGY BANK
under the
CANARD
of
'free trade'