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items tagged with International Monetary Fund

Bankrupt Nations Try (and Fail) to Stop the Future
Written By: Jeff Ignatius
Section: Commentary/Politics

Category: Guest Commentaries

2011-05-30 11:34:07

Debt is slavery ... or at least indentured servitude of the worst kind. That looming mortgage, the high-interest credit-card debt, the short-term car loan – these are the forces that keep people from breaking free and taking action.

Ironically, debt begets more debt. According to FinAid, the average U.S. student-loan debt for a four-year-private-university graduate is nearly $36,000, and $24,000 for a public university. Throw in that first car loan and maybe a mortgage, and suddenly you’re staring at hundreds of thousands of dollars in demoralizing claims on your future income.

At this point, most people figure: Hey, I’m already in debt up to my nose; might as well get in up to my eyeballs and buy a new plasma screen on credit.

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Strauss-Kahn: As Sleazy as the IMF in General
Written By: Jeff Ignatius
Section: Commentary/Politics

Category: Guest Commentaries

2011-05-26 13:45:31

Since the embattled former head of the International Monetary Fund (IMF), Dominique Strauss-Kahn, occupies the headlines with some consistency as of late, it seems as good a time as any to note the perfectly legal crimes the IMF perpetrates daily.

Established by the world’s most powerful states as an agency of empire, the IMF is an inflationary machine designed to make cash all too accessible for the West’s corporate titans. The White Mountains of New Hampshire are the radix of the IMF, having hosted the Bretton Woods conference of nations in the wake of World War II. That summit, conceived to reconfigure the global financial system for the demands of the post-war framework, positioned the United States as a global hegemonic authority.

If America’s corporate neocolonialism was to function, then the “developed” world would need an effective way to funnel money to its new outposts, the countries that would host its subsidiaries and sweatshops. The loans, of course, were – and have ever since been – channeled to infrastructure projects that dilute currencies and cheat the taxpaying common man to benefit a handful of oligarchs.

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Ted Rall: What's the Big Deal?
Written By: Jeff Ignatius
Section: Lifestyle

Category: Ted Rall

2011-05-20 11:44:20

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