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The International Monetary Fund has called on the US and Europe to abandon fiscal austerity and switch to stimulus measures

(5 Posts)
ttosca Mon 05-Sep-11 01:09:02

IMF: global economy faces a 'threatening downward spiral'

The International Monetary Fund has called on the US and Europe to abandon fiscal austerity and switch to stimulus measures, warning that the global economy faces a "threatening downward spiral".

www.telegraph.co.uk/finance/financialcrisis/8740736/IMF-global-economy-faces-a-threatening-downward-spiral.html

CogitoErgoSometimes Mon 05-Sep-11 08:12:03

That's a pretty alarming u-turn and a request that I think will be ignored.

ttosca Tue 06-Sep-11 15:00:46

That's a pretty dismissive comment.

When the IMF - an institution whose purpose is to spread neo-liberalism internationally - says that US and european austerity measures are making the recession worse, then it's a pretty serious situation.

Many of us on this talkboard have been saying for this for many months; the austerity measures are not only unfair and unjust, but are actually counterproductive.

CogitoErgoSometimes Tue 06-Sep-11 15:33:05

That it's a serious economic situation is not in question. However the IMF call for fiscal stimulus is aimed at places like Germany, not the countries in the biggest debt, as a way to create some confidence. And even then, the advice is dependent on there being strong exports. They've also called for the forced recapitalisation of Europe's banks and I can't see governments handing over yet more money to banks, can you?

newwave Tue 06-Sep-11 22:44:53

They've also called for the forced recapitalisation of Europe's banks and I can't see governments handing over yet more money to banks, can you?.

No need to hand over any money if a forced monitorium on pay rises and bonuses was enacted.

How about.

The same percentage increase for all employees with an upper limit of say £1500, those the lowest pay will get a full percentage rise and the greedy filfth at the top on megabucks will get £1500 max.

No bonus of over £5000, great if you are on £20,000 basic and more than enough for the parasites at the top.

All the billions wasted on those greedy scum who dont need it can be used to capitalise the banks or even better to pay back the money they "stole"

This law can be enacted if the will is there.

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