WARNING: “Civilised Capitalism” Means Keynesian Fiscal Spending on Steroids

At the just concluded G20 Summit in Hangzhou, China, leaders of the world’s 20 largest economies have concluded that they must “civilise capitalism” amid growing public skepticism about crony globalist operations, reports The Finacial Times.

So what exactly does “civilised capitalism” mean?

The United States (surprise) took the lead in the "new" direction.

FT reports:

Before the two-day meeting, the US government argued that a “public bandwagon” was growing to ditch austerity in favour of fiscal policy support.

“Maybe the Germans are not absolutely cheering for it but there is a growing awareness that ‘fiscal space’ has to be used to a much greater extent,” agreed Ángel Gurría,secretary-general of the Organisation for Economic Cooperation and Development....

Chinese president Xi Jinping helped set the tone of this year’s G20 meeting in a weekend address to business executives. “Development is for the people, it should be pursued by the people and its outcomes should be shared by the people,” Mr Xi said.

“This is not just a moral responsibility of the international community,” he added. “It also helps unleash immeasurable effective demand.”

Yikes! "Effective demand." The Chinese now even speak Keynesian.

 Here's what is going down. The crony globalists aren't giving up control in the face of fed up global masses.  They are just switching their method of control via greater government spending, justified by faulty Keynesian theory. It's one more step toward eventual massive global price inflation.

 -RW