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Post by duke on Feb 22, 2013 19:56:24 GMT -5
The Plan to Enrich the World's Wealthy By Bill Black, New Economic Perspectives 20 February 13 John Williamson, a Peterson Institute "senior fellow" coined the term "the Washington Consensus" at a conference in 1989. Williamson joined the Institute in 1981 when it was founded by Pete Peterson, the Republican billionaire from Wall Street who has dedicated his life to proselytizing for lower taxes on the wealthy, stringent spending cuts in social programs, and privatizing Social Security â€' the unholy grail of Wall Street that would provide our largest banks with hundreds of billions of dollars in additional investment fees. Peterson has funded many groups to evangelize for these neo-liberal dogmas. Williamson’s statement of the "ten" "principles" of what he chose to label "the Washington consensus" parallels Pete Peterson’s policies. Williamson, the Reagan administration and the IMF did not see these principles as being of equal importance. A paper by Williamson makes clear that the focus of the Washington Consensus was on Latin America. Here is Williamson’s introductory paragraph, in full. <snip> readersupportednews.org/opinion2/277-75/16119-focus-the-plan-to-enrich-the-worlds-wealthy
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Post by Smilin' Jack on Feb 22, 2013 20:52:20 GMT -5
What utter nonsense.
Nations that borrowed money on terms, were unable to repay their debts on those agreed terms and wanted concessions on repayment and/or to borrow even more money.
Those international institutions that lent them the money are entitled to have it repaid. Throwing more money down a rat hole without some new conditions set to increase the odds of future repayment, seems entirely reasonable to me.
Anything less and indirectly it becomes theft from you and me by the typically corrupt third world regimes to which it was lent.
Unless you're OK with that.
Greece is a current deja vu example of these same dynamics playing out.
And these dynamics are building in the US and unless the fiscal trajectory changes, it too will come to resemble a third world basket case.
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