Skip to main content

View Diary: Austerity doesn't work: New IMF report details the damage (167 comments)

Comment Preferences

  •  Learning the same lessons over and over again (10+ / 0-)

    The IMF concluded that they f*cked up when they imposed austerity on east Asia during the 1997 currency crisis.

    So did they change their game plan? Not at all. They did the same thing to Europe in 2009-.

     So why does the IMF continue to make the same mistakes even after they admit they know they are mistakes?
      Hint: it isn't because of economics. It's because of who owns the debt, and who pays for it. In other words: politics.

    ¡Cállate o despertarás la izquierda! - protest sign in Spain

    by gjohnsit on Fri Jan 04, 2013 at 09:45:29 AM PST

    •  Institutional bias? (0+ / 0-)

      Maybe. But didn't I read something about conflicting theories at the IMF from 11 years ago?

      Others have simply gotten old. I prefer to think I've been tempered by time.

      by Just Bob on Fri Jan 04, 2013 at 09:47:41 PM PST

      [ Parent ]

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site