After Pittsburgh, where our Leaders gave directions to come out of the economic crisis, their finance ministers and central bankers met in Turkey to see about their implementation. I tagged along. The good news is: we are coming out of the 1 year old crisis caused by greed and the previous Administration's complicity. The bad news is that, although we are in full recovery mode, it takes a while to come out of a deep well. TARP is working and so is Obama's stimulus package. Employment will follow suit as soon as consumers will come back from where they are hiding. No consumption = no production = no jobs.
So far, the biggest victim of the banking cum subprime crisis caused by our Wall Street geniuses and the accomodating SEC, is the US dollar.
As to Turkey, it was my 4th visit, and, although I did work at the Finance Conference, I had time to explore its maze of streets and warrens of hammams, Turkish baths, coffee houses, bazaars, souks, spice markets, harems, mosques etc.. I took a trip down the Bosphorus and up the Golden Horn. I re-visited the Blue Mosque, Hagia Sophia and Topkapi.
Upon my return, I was very happy to hear of president Obama's elevation to Nobel Peace Prize. What an honor for the United States. And shame on the fanatics who chose to criticize him for it, siding with no less than the Talibans, hamas and Ahmadinejad!
When I shook his hand in Pittsburgh, little did I know I was sahking the hand of a Nobel Peace Prize. Allah is Great!
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