Stanley's blog


I recommend you take five minutes to see and hear extracts from Barack Obama’s budget speech on Wednesday to the US Congress.

While recognising that the new President’s success will be judged by the effectiveness of his actions and not his words, nevertheless the confidence he gives to the people is an essential part of tackling the economic and financial crisies. Loss of confidence in bankers, regulators and politicians is a serious contribution to the crises.

President Obama promised that the country would emerge from the recession stronger and set out the most ambitious anti-poverty programme since the 1960s. He did not, however, disguise the hard times ahead.

The United States is showing leadership. China is showing leadership. But where is Europe?

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