NORTH: New world financial order

The only reason the Europeans are even attending is to transition the U.S. free market economy to a global regulated market economy so they may use regulatory capture to have a voice in U.S. economic policy and equalize the socio-economic playing field. France spends 53.4% of its GNP on social programs that do not produce wealth. Like other socialist economies they do feel it is not fairly competitive for the U.S. to be spending more on a free market system that creates more wealth than social welfare insurance. With Obama's socialist tendencies they now see a chance to push for a regulated government to government economic system and do away with free market capitalism. There are estimates of the bailout costing up to $5 trillion for the U.S. which is 39% of the GNP. This only leaves 14% increase in Obama's social welfare programs to downgrade the U.S. wealth production percentage to European standards. The new special interest groups of regulatory capture; lawyers, environmentalists and organized labor have moved in to replace Wall Street and are well on their way of producing the results the Europeans so desperately seek.