Pepe Escobar: World markets - and top economists - dismiss the Wall Street bailout
"World markets on the verge of panic continue to dismiss the Bush/Paulson Wall Street bailout plan - despite White House rhetoric and supposedly concerted action by the G-7, the group of leading industrialized economies. Top economists criticize the mechanics of the plan, which concentrates too much power on Secretary Paulson and his Goldman Sachs colleagues; warn of an incoming systemic crisis; and point out the taboo topics nobody is talking about: the US budget deficit and the US military budget."
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