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I Know Why We’re in a Global Financial Tailspin

13 October 2008

It’s because economists and politicians can’t grasp simple math.

Want me to prove it to you? Okay:

There’s a group of nations that get together regularly to consult in international financial matters. They call themselves the Group of Ten (or G10, for short). The member nations are:

Belgium
Canada
France
Germany
Italy
Japan
Netherlands
Sweden
Switzerland
United Kingdom
United States

Q.E.D.

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7 Comments leave one →
  1. 13 October 2008 1:14 pm

    …..!

    I don’t know what to say.

    The only thing I can think is that they lumped the US and Canada together… but I suspect that to you that would be as awful as lumping France and Germany together.

    Wiki has no answer either.

    Wouldn’t it be nice if people could count?

  2. cowgirl permalink
    13 October 2008 1:24 pm

    ok– it’s all teh Swiss’ fault 😉

    “The GAB was strengthened in 1964 by the association of Switzerland, then a nonmember of the Fund, but the name of the G10 remained the same.”

    http://en.wikipedia.org/wiki/Group_of_Ten_(economic)

  3. simonk permalink
    13 October 2008 2:34 pm

    OK that’s just wrong, how hard is it to change the name from G10 to G11!!!

  4. Peaceable Imperatrix permalink*
    13 October 2008 7:07 pm

    cowgirl: Funny that your link says it was strengthened by the inclusion of Switzerland, because my link says the G10 is”has been criticized for its lack of responsiveness to the needs of developing countries” — Interesting!

    B and Simon: It’s just laziness (which is the real reason we’re in a tailspin: too lazy to put money aside to protect the risky behavior, too lazy to provide adequate oversight, too lazy to think of the repercussions of selfish financial behavior….)

  5. 14 October 2008 7:36 am

    Maybe it’s a case of “The Group of Ten”… and us.

  6. 15 October 2008 7:41 am

    I’d have assumed that the UK is now a province of the US.

  7. Peaceable Imperatrix permalink*
    15 October 2008 7:50 am

    Yeah, Z, but with Blair teaching religion at Princeton, you’d expect that influence to wane a bit, right? At least, you’d hope so!

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