In response to your citing British Prime Minister Gordon Brown urging a “coordinated fiscal stimulus” at the G-20 summit this week (”That G-20 Show,” Review & Outlook Nov. 14):
It is easy for G-20 leaders craving more jam for their scones to advocate government spending in response to the current slow market. Indeed, even the American Congress has responded to a failed bailout by passing further industry-targeted bailouts. But as this Journal has so rightly observed, when Gulliver is submerged, the Lilliputians have long-since drowned.
Fostering inflation in G-20 nations will only worsen and perpetuate a global recession. Rather than promote peace and harmony, this will further alienate the rest of the world economies. This contributes to an ever-widening gap between the “haves” and the “have-nots,” suggesting that our pledged commitment to global prosperity is a sham.