Just reading over the G20 Summit Comunique. Of course it's all unsubstantive because you can only get the world's top 20 economies to agree to so much.

One item of promise is that they are all agreeing to spend their way out of this problem:

7. Against this background of deteriorating economic conditions worldwide, we agreed that a broader policy response is needed, based on closer macroeconomic cooperation, to restore growth, avoid negative spillovers and support emerging market economies and developing countries. As immediate steps to achieve these objectives, as well as to address longer-term challenges, we will:

Continue our vigorous efforts and take whatever further actions are necessary to stabilize the financial system.

Recognize the importance of monetary policy support, as deemed appropriate to domestic conditions.

Use fiscal measures to stimulate domestic demand to rapid effect, as appropriate, while maintaining a policy framework conducive to fiscal sustainability.

http://www.financialpost.com/news/st...

MR