Economic Crisis

BBC News: Reports on the plan by the G7 to protect the Western Economy. What was interesting was the plan by the US Government to take shares in banks and Financial companies. The major bailout of Wall Street and the UK plan to bailout the banks should prevent a depression if not a recession. The cost will have to be paid some sometime, either in cuts in government spending or higher taxes. In a recession you don't raise taxes thus we come to least liked option by Government, cutting spending. As it looks by the Polls Obama will in a couple of weeks time, thus we can look forward to the USA getting out Iraq within a year, this should mean that defence spending can be cut, Afghanistan is a long term problem, Obama has stated there will need to be a surge in Afghanistan, as it the USA did Iraq. The operations in Afghanistan will take years and even then you will still get low level violence, the main worry is Pakistan, should that fall to the terrorist then all bets are off, will Obama turn out to be the next FDR or Hoover.