The G20 Tackles Global Financial Crisis – You Can Tackle Yours

By admin • July 14th, 2010

One of the major themes of the recent G20 held in Toronto, Canada was the worldwide financial crisis.  The G20 endorsed the goal of the richest nations, including the US, of cutting their deficits in half within 3 years.

In their closing statement, the G20 leaders recognized that serious challenges remain in the world’s economic recovery.  The leaders said that growth is occurring, but that recovery is “uneven and fragile,” and unemployment in many countries remains at unacceptable levels.  The G20 leaders said to sustain recovery, nations must follow existing stimulus plans and work to create conditions for “robust private demand”.

The parallels between the global financial crisis and personal financial crisis’ are clear.  At a meeting around the dining room table, we acknowledge we’re in crisis.  Cutting our deficits would change our entire world and would restore peace to our lives and our families.  We can see a faint light at the end of the tunnel.

The good news is that we have one tool available that the G20 nations don’t – bankruptcy.  Our family can receive a fresh start.  We can erase past choices and make new ones.  We can take the wisdom we’ve acquired and put ourselves in the best position to exceed this year and beyond.

 

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