The Quiet Coup

NEW -> Contingent Buyer Assistance Program
<blockquote>In its depth and suddenness, the U.S. economic and financial crisis is shockingly reminiscent of moments we have recently seen in emerging markets (and only in emerging markets): South Korea (1997), Malaysia (1998), Russia and Argentina (time and again).</blockquote>
<blockquote>

But there?s a deeper and more disturbing similarity: elite business interests?financiers, in the case of the U.S.?played a central role in creating the crisis, making ever-larger gambles, with the implicit backing of the government, until the inevitable collapse. More alarming, they are now using their influence to prevent precisely the sorts of reforms that are needed, and fast, to pull the economy out of its nosedive. The government seems helpless, or unwilling, to act against them.</blockquote>


Interesting article, thanks for sharing!
 
I think the IMF does great work as the lender of last resort

I learned a lot about the IMF in grad school, and they were always portrayed in a positive light.

When China stops buying US treasuries, the IMF will have to bailout the US.



Funny that major funding of the IMF is from the US.
 
[quote author="zubs" date=1238209569]I think the IMF does great work as the lender of last resort

I learned a lot about the IMF in grad school, and they were always portrayed in a positive light.

When China stops buying US treasuries, the IMF will have to bailout the US.



Funny that major funding of the IMF is from the US.</blockquote>


Volcker: China Chose to Buy Dollars

<A href="http://blogs.wsj.com/economics/2009/03/24/volcker-china-chose-to-buy-dollars/">http://blogs.wsj.com/economics/2009/03/24/volcker-china-chose-to-buy-dollars/</A>
 
You must log in or register to reply here.
Back
Top