Thursday, January 29, 2009

Lies and damn lies!

Pascal Lamy, the WTO Director that shouldn't be but is there anyways, has said in a speech that protectionism is not on the rise.

You see, putting him back as WTO Director was a huge mistake. How can't all of these "stimulus packages" and "government re-investment plans", not be protectionism at the face of it?

This is something, the director did not go into. Blanket statements like this should not be made by a man so senior as he. Perhaps he had an "off" day?

An article in the Wall St. Journal, gives us some more information on current American protectionism and the possibilities of more.

A fair assessment, considering the obvious stimulus plan and auto-bail out as well as TARP, which will shape global finance and the way businesses get funding.

Perhaps Lamy should read the Wall St. Journal a little more often!?!?
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