???Between 20 and 70 people were arrested in London on Tuesday after protests in front of the Royal Bank of Scotland turned violent. Of the several thousand demonstrators, hundreds were directly involved in rioting, although only a small percentage of those people have been arrested.
???The protests began in response to the meeting of the Group of 20 this week in London, which President Barack Obama is currently attending. It is the hope of that organization and of those watching with baited breath that the 20 nations represented will leave the meeting with a clear path to global economic recovery.
???Critics of the meeting have derided it as a further opportunity for empty words and vague, poorly thought out plans, and while Obama has pledged to avoid these outcomes, President Nicholas Sarkozy of France has already threatened to walk out of proceedings once.
???Obama hopes that he will be able to garner increased support for plans involving large fiscal bailout plans for each G20 nation, but he has met with resistance, most notably from France and Germany, who believe that any bailouts must be accompanied by strict financial regulation.
???Perhaps we should listen, now. We have been steadily deregulating the financial system for more than three decades now, and it's fair to say it hasn't worked. Regulation is officially trying something new.
???What the average person hears of all this, though, is not clear or reassuring. Our leaders continually tell us that they are pursuing options and plans, but after all these months and all these layers of intrigue, double-speak and dishonesty, it's becoming hard to remember exactly what happened to cause all of this.
???To be well versed in the reality of what is happening, one must have a passing understanding of economic theory and sadly many of us, on both sides of the pond, are lacking. With that in mind, coupled with the fact that the impetus for the downturn originated in this country, is it any surprise that the blind impotent rage many of us feel spilled over into violence first in Europe?
???It would not be surprising to see more of this behavior as time goes on. Anger and ignorance are a volatile mix, and they're easy to find these days.
???What we need is understanding and a path. There is no one more violent than a person cornered, with no where to go, and more and more people these days are feeling just that: cornered.
Photo: Courtesy of Laron Fomby
