I may be prone to knee jerk reactions – none more so when I see the Wicked Witch’s comments in regard to the economy.
Opened up the Guardian website this morning and saw that she has called for additional spending to combat the looming trade deficits worldwide.
Well why not?
All countries to continue to borrow to spend – yet all countries are mired in debt.
My question to this significant mouthpiece of the ‘Banking Industry’ is why do not Governments just cut spending?
Reduce Government and operate within a budget to maintain a surplus and then repay the debt.
That in itself whilst it is reasonable – does not fit the IMF agenda.
Ever wonder why the U.S. Fed has not increased rates to normal level?
One can presume that her best friend Pres. Obama has leverage on one Yellen.
If – and when the Fed does increase rates – which they will – then what happens to that capacity to repay the interest on borrowings?
I doubt La Grande will take that situation into account – when times are tough the IMF is prosperous and lender of last resort.
Then one must follow their ‘la grade’ ideas and instructions or one looses sovereign assets – sold at fire sale value to her best friends.
Tsipras knows all about this – he is still smarting after the neutering.
Full article can be read here.
Also in the Guardian was a report on the Austerity March in London – after 8 years of Carney and Osborne policies the populous are getting vocal – again.
They will just cut the pensions and health services – nothing wrong with that is there…. move on …..