On Wednesday, a colleague drew my attention to the fact that the G8 had issued a statement on the global economy from Grand Rapids, Michigan.  I quickly glanced at their points and thought they didn’t add much beyond what had been said at various G-numbered, EU-type, and other subgroups over the weekend: we’re doing a lot, things will get better, trust us, etc.

Still, I was impressed that the G8 had got together quickly and, of course, the fact that Russia had joined hands with the G7 (this is how you get to 8) might be significant given the strains currently apparent in Russia and apparently looming elsewhere.  So the following morning I opened the Wall Street Journal to learn more about the form of their meeting and background on the context, including any supplementary communication of messages (i.e., any such statement usually comes with spin.)

To my surprise, I found no mention in the Journal that day (sorry if I missed it; let’s say it wasn’t an article the front page, and if it was in the short highlight points, it was in very small print.)  I had an opportunity on Friday to ask someone who tracks the White House closely, and he confirmed the statement came after a phone call or series of calls involving President Bush (who was visiting Michigan) and generally was not much of a news event.

Now, I wouldn’t want to make too much out of this particular incident.  And I do think that, overall, policymakers at the G7 level and their close colleagues elsewhere have had a better week.  But I do begin to wonder if people are relying on G7-G8 stewardship of the global economy as they have in the past.

And rule #4 in the crisis manager’s handbook is quite clear: when you have nothing to say, say nothing.

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