[SIZE=+1]World losing faith in leaders ability to resolve crisis[/SIZE]Global stock makers continue to gyrate as world leaders gather in Washington for an historic summit to confront the global financial crisis.
China National News
Friday 14th November, 2008
In an ominous sign that markets do not hold out much hope for a successful outcome to the weekend summit, the Dow Jones industrials lost more than 300 points Friday, while the Nasdaq Composite shed 5% of its value.
Leaders themselves have been down playing expectations for the summit. Host George W. Bush said a single meeting was not going to resolve the crisis.
Meantime on the eve of the summit an FT/Harris poll has revealed the majority of Americans and Europeans have lost confidence in their leaders ability to come up with solutions, and say their handling of the crisis to date hs been poor.
68% of those in the U.S. polled claimed their government has handled the crisis poorly with 39% rating President George W. Bush’s personal performance as terrible.
The poll’s findings illustrate the difficult position leaders of the world’s major economies find themselves in with their electorates as they try to do their part to influence the global response to the economic slowdown as their own economies slow, or enter recession, Te Financil Times reported Saturday.
In spite of claims by Gordon Brown, the British prime minister, that he has been leading the global response to the financial crisis, half of British respondents rate his performance as poor with only 19% saying he is doing a good job.
Jose Luis Rodriguez Zapatero, Spain’s prime minister, and Silvio Berlusconi, Italy’s prime minister, have also fared poorly according toaround a third of their constituents.
Only Angela Merkel, Germany’s chancellor, emerges relatively unscathed with an equal split – 32% apiece – between those saying she has handled the crisis well or poorly. Yet this week Germany joined several other European countries in officially reporting that it had plunged into recession.
It is perhaps unsurprising that voters deliver harsh verdicts on their governments in tough economic times. Yet supporters of some politicians, such as Nicolas Sarkozy, France’s president, have been arguing that the crisis has only highlighted their leadership *qualities.
As holder of the rotating European Union presidency, Mr Sarkozy has played an important role in co-ordinating a pan-European response to the financial crisis. However, only 28% of respondents in France consider Mr Sarkozy is performing well with 37% suggesting he is doing poorly.
In spite of their critical judgment on their government’s response to the crisis, U.S. respondents are among the more optimistic in anticipating an economic rebound. Twenty-one per cent of US respondents expect their standard of living to improve next year, although far more – 44% – expect it to get worse. German responses are similar.
The French, though, confirm their reputation for being habitually pessimistic with only 4%predicting their standard of living will improve next year with 76% expecting it to deteriorate.
The monthly FT/Harris online poll was conducted among 6,257 adults in the US, France, Germany, Britain, Italy and Spain between October 29 and November 6, The Financial Tims reported.
/QUOTE]
The fact is there is nothing that you can trust; and that is a terrible fact, whether you like it or not. Psychologically, there is nothing in the world that you can put your faith, your trust, or your belief in. Neither your gods, nor your science can save you, can bring you psychological certainty; and you have to accept that you can trust in absolutely nothing. That is a scientific fact, as well as a psychological fact. Because, your leaders—religious and political—and your books—sacred and profane—have all failed, and you are still confused, in misery, in conflict. And, that is an absolute, undeniable fact.
Last edited: