It is critical for the people of the USA and the world to understand the IMF and what it does to a nation’s economy

February 5, 2011 at 8:25 am in Class War by IfLizWereQueen

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Egypt has one dictator.  The USA has many and they all live on Wall Street or in Washington D.C.
Go ahead. Keep arguing about conservatives and liberal politics. That’s exactly the conversations they want us to have so that we stay divided against one another. Then we will be distracted and flipping back and forth every four years: It’s those damn Democrats. It’s those damn Republicans, It’s those damn Democrats, etc.

Little will change until we wise up and start saying: “It’s those 261 millionaires (almost half) of our Congress who vote to protect their Wall Street portfolios. It’s those Koch brothers who create fake grass roots movements that really promote the agendas of the rich—not the majority. It’s those financial advisers in the White House who make millions in fees from Wall Street grifters like Jamie Dimon and Lloyd Blankfein and others. . .”

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From the mid-1990s on, Egypt found that in order to get loans from the IMF and the World Bank, it had to dismantle the most inefficient parts of its somewhat socialist economic system. In recent years.”

from an article in TIME magazine written by Fareed Zakaria
“How Democracy Can Work in the Middle East”

[Queen's analysis: What a crock of unwashed tripe! This is typical propaganda dished out by Wall Street grifters to keep people stuck in the perpetual loop of hope: that irrational belief that something better is just around the corner if you will just put up with our bullshit for now. “Just dismantle the parts of the economic system that prevent the rich from taking full advantage of the poor and we will show you charts of the rising GDP to discourage you from complaining. If your life isn’t working out the way you planned and you are not rich like us—well, it’s your own damn fault. Don’t blame us we are just the architects of the casino for the rich who set up the odds in their favor.”]

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HERE IS THE TRUTH ABOUT THE IMF AND THE “MOST INEFFICIENT PARTS ” OF A NATION’S ECONOMY THAT IT DISMANTLES:

HOW ECONOMIC PROSPERITY IS BROUGHT TO OTHER COUNTRIES OF THE WORLD LIKE EGYPT

First of all the International Monetary Fund (IMF) comes in and set up the rules for the new casino.  These rules are harsh and they are designed–not for the majority of the people of the nation. They are set up to favor the multinational corporations and a few of the wealthiest people in the country who are willing to sell out their people.

The IMF is run by a cartel of international financiers and it is funded by taxpayer money from the USA and other western European countries.  In the USA the funding for IMF is slipped into other bills so the citizens don’t notice.  In June of 2009 funding for the IMF was slipped into a military appropriations bill by the Obama administration.  The Bush Administration did the same sort of thing and the Clinton administration before that. So don’t get side-tracked into the propaganda that party has anything to do with it.  There is no degree of separation between a millionaire Democrat and a millionaire Republican.  To draw up such differences is to  engage in the good cop/bad cop political party game that the rich have been playing on the rest of us for 30 years–ever since Reagan came into office in 1981.

In 1991 Mubarak agreed for Egypt to undergo the IMF structural adjustment. Its principles are at the heart of economic-neo liberalism that has dominated USA Politics for 30 years beginning with Reagan.

“Structural adjustment”, the standard IMF/World Bank policy package calls for slashing government spending, nurturing privatization, and opening up countries to exploitative foreign investment.  These measures have deepened poverty around the world. In the two regions with the most structural adjustment experience, per capita income has stagnated (Latin America) or plummeted (Africa).  Structural adjustment has also contributed to wealth inequality in the developing world.

Privatization–the sell off of government-owned enterprises to private owners, often foreign investors.  Privatization is typically associated with layoff and pay cuts for workers.

Cuts in government spending–These reductions frequently reduce the services available to the poor.

Promotion of exports--Under structural adjustment programs, countries undertake a variety of measures to promote exports, at the expense of production for domestic needs. In the rural sector, the export orientation is often associated with the displacement of poor people who grow food for their own consumption, as their land is taken over.  (Look no further than Madagascar for a recent example.  This fall, their leaders signed a 99 year lease with South Korea, handing over half of all the arable land in Madagascar.)

Imposition of user fees–Many IMF and World Bank loans call for the imposition of “user fees” charges for the use of government provided services like schools, health clinics and clean drinking water. For very poor people, even modest charges may result in denial of access to services.

Higher interest rates–(like the ones that Americans pay on their credit cards) Higher interest rates exert a recessionary effect on national economies, leading to higher rates of joblessness.  Small businesses, often operated by women find it more difficult to gain access to affordable credit to survive.

Trade Liberalization — The elimination of tariff protections for industries in developing countries often leads to mass layoffs.  In Mozambique, for example, the IMF and World Bank ordered the removal of an export tax of cashew nuts.  10,000 adults, mostly women lost their jobs in cashew nut processing factories.  Most of the processing was shifted to India where child laborers shell the nuts at home.

IF YOU WANT TO SEE AN EXAMPLE OF THIS IDEOLOGY UNLEASHED ON US CITIZENS IN ITS HARSHEST FORM, LOOK NO FURTHER THAN ARIZONA.

Proclaim the Queen!