USA looses at the G20 .

Our Rookie President did not work for the USA's best interests at the G20.  Europeans did the best Chinese did the worst.  The G20 has agreed to increase the resources of the International Monetary Fund to $750 billion, to fund $100 billion for multilateral development banks, and to increase trade finance to poorer countries. 

The G20 claims this will grow to $5 trillion by the end of the year, raise output by 4 percent, and accelerate the change to a green economy.

If only we could learn from history, THIS DOES NOT WORK!   Development aid has been tried repeatedly since the 1940s: it has failed so many time that there is no reason to believe that it will work now. And claims that any of this spending will bring a ‘green economy’ into being ignore the  economic fallacies of the concept.

So the Europeans get regulations, Americans get a watered-down endorsement of stimulus spending, the Chinese get a bigger role in international financial institutions, and the developing nations get more politically corrupting development aid. 

So we got took.