THE WORLD ECONOMY IS WEAK AND GETTING WEAKER, BUT LET US FOCUS ON THE POSITIVE IN THIS MEMO.  IN SOME AREAS, IMPROVEMENTS ARE TAKING PLACE.

LAST WEEK WAS THE G-20 MEETING

The primary new event was the creation of 250 billion dollars from nothing via Special Drawing Rights (SDR’s), 250 billion dollars in all.  These SDR’s can be used as reserves by the countries that are granted this fantasy money.  Over 30 percent, about 85 billion dollars, of this fantasy money is meant for the emerging world.  This is enough to keep optimism increasing in developing world.