Obama did well at the G-20

[Kurt_and_Hunter]

Since many don't like my gloomy economic posts, here's a positive economic blog consensus (among people I read) on the G-20.

Everyone was disappointed by the lack of agreement on coordinated reflation, but not surprised. It was known well in advance that that wasn't going anywhere.

Within the range of possible outcomes, the consensus is that Obama got more out of the G-20 than was hoped by getting more money for the IMF than was expected, and by wresting the IMF from European control.

The only people I see who are down on the G-20--relative to rational expectations--are folks who loved the Sarkozy global oversight board and wing-nuts.

And that is the difference between the Simon Johnsons and Paul Krugmans of the world and Obama's actual enemies. The middle-of-the-road Democratic-leaning economists don't wait for Obama to do something and then figure out afterward why it sucks.