Banks getting higher interest rates than everyone else (from Fed)

Too bad you cant see the forest for the trees. That's why the play their games, to sidetrack and fool people into thinking its all legitimate.

 

There is certainly major suffering from the actions of organisations like the IMF, but that reflects enforcing market fundamentalism on the developing world. Isn't that something which encourages you to skip across the buttercup meadows?

 

we would not want market fundamentalism imposed on developing world when socialism helped USSR, Cuba, North Korea, East Germany, Venezuela and 132 countries develop so rapidly! See how easy it is to utterly defeat liberal?

 

Please try to reply to the quote. Has the IMF enforced market fundamentalism to the detriment of the developing world?

 

several books out about how what they have primarily done is provide welfare to developing countries and thus crippled them. Yes a little market discipline but not much at all.

 

Several books out? Chorlte, chortle, what a credible response! The IMF, together with the World Bank, enforced the Washington Consensus. End result? Increased instability and higher risk of civil war. Russian roulette no less

 

IMF provided massive welfare and little Republican capitalism. Read Easterly if you want to get your feet wet on this topic.

 

I don't need to read anything more. The Washington Consensus is well documented. The impact of market fundamentalism on unstable economies is obvious: destruction of infant industries, reliance on primary sector exploitation and creation of resource conflict.

 

ah actually you became a libcommie by not reading or thinking enough

 

yes, 2 parts welfare and 1 part Republican capitalism. Switch to 3 parts Republican capitalism like China did and get 10% growth for 30 years

 

No. Imposition of neo-liberalism. That you're unaware of economic history is clear.

 

you mean China didn't grow at 10% a year for 30 years and save another 60 million from slowly starving to death when it switched from libcommieism to Republican capitalism?

 

@Battle3

It's out of their complete control.
There is a fundamental relationship that cannot be ignored. Printing money doesn't print the resources that money is used to buy.

Creating money does not create wealth. It merely redistributes it.
In the end the hard power is in the ownership of the things that money buys and not in the ownership of money.

So I can pass a law allowing me to infinitely print money or I can engage in counterfeiting or borrow endlessly, But supply is finite.
Nothing is added to the economy when I do.

The same resources exist before I manipulate the money markets as do after.
And the same people own them.

Money has to be exchanged for goods or human labour to be of any use..
And people have to agree to that exchange.

So the two are intimately linked. Adding money without adding resources, just devalues money. At some point if you do that you end up with Zimbabwe or the Weimar Republic.
Or if you borrow money endlessly without repayment at some point you become like Greece...
Or you run deficits endlessly and become like the Svoiet Union.
Where money becomes useless and people trade by other means.

So money printing does give you a limited amount of power to redistribute wealth, but not an all controlling one. You push it too far and you lose that limited power entirely.

If the laws don't suit they can make new ones that do. They control the legislature. The law makers, the law enforcers, the judges.
Or as you say they can ignore them completely or distract them with lawyers indefinitely.

I'm not sure the IMF is all that in the loop. The Fed and the treasury are two offices of the same government. Linked hand in hand.
The IMF is international. It's got a lot of disparate interests involved. A lot of internal rivalries that make it impossible to work "hand in glove" with any single government.

 

Again no reference at all to the quote. I already know you celebrate the Chinese dictatorship. Don't bore with me with the fanatic routine. My quote was about how the IMF played an integral role in delivering the irrationality (except for the financial elite of course) of neoliberalism

 

So I want to extend this a little further if you are willing.
The theme of limitations to the levers of economic control through money manipulation.
I want to depart from the study of finance and enter into the politics of economics.

What we often get from the left, is the idea that we are being conned by these money manipulators. That they are unfairly usin these exploits to keep us down and to rip us off. And generally how this is an injustice to be overthrown.
Which of course it is.
And to sell this sense of injustice to the electorate in the hope of provoking a backlash of sentiment that results in their own rise to power. (Marx style perhaps)...

They over sell it's effects. Make a bigger deal out of it than it actually is and attribute all sorts of demonic powers to the evil illuminati, Donald Trump,George Soros, Bill Gates, Steve Jobs. The Fed, Goldman and Sachs. Pick your bugbear.
They overplay it.

This results in a group of people educated to believe in it. To irrationally believe in it. To believe in the overplay.

And when those people get their hands on the reigns of money manipulation, they over play their own manipulations in line with their educated beliefs.
And that is when you get crashes and crisis. That's when you get Weimar Republic. Banking Crash. Greece. Fall of Soviet Union. Zimbabwe. Venezuala.

When that cool Greek guy with the leather jacket says he can fix it, but he can't. Because he doesn't quite get it.

They pull the levers of money manipulation too hard and the limited control they have over it, breaks.
All because they didn't recognise the limits of power that "the Illuminati" have.

So they raise taxes too high, and people stop paying them, or they borrow too much and people stop lending to them. Or they print too much and no one can physically carry the notes needed to buy anything. You get the idea I hope.

Education is important. Get it right.

 

All true.

But there are some people in the world ("progressives") who believe they can control the economy and direct its activity, they just need the power to implement their ideas and override all opposition.

Of course, if they get fabulously wealthy in the process, that's just natural. They think they are better than every one else, they are the ruling elite, and they deserve fabulous wealth.

And when their ideas fail, when there is recession after recession in a steadily worsening trend, they don't admit that their ideas are at fault. They claim the fault is that they don't have enough power, they did not do enough meddling, if only they had even more control they could de better next time.

Eventually its going to collapse.

 

The economy has effectively been under a level of control from 'day 1'. The very creation of modern economies reflects industrial policies designed to create and then protect infant industries.

 

Yes mate, these are the worst ones of the lot. The most corrupt of them all.
We used to call them socialists but after Mao, Hitler and Stalin etc, they have rebranded.

Yes it will all crash eventually or perhaps even soon, if we sit back and predict this each day we will proven to be correct in time.
This is a Chomski-ism. A self evident truth Stating the obvious.
Vince Cable ism.

The real art is predicting "when".
When does the music stop playing, when do I sell my stock, cash out my money into goods.
That is worth knowing. And I don't.

 

Possible Fed interest rate hikes, Uncertainty on Trade Tensions...

Fed's Powell Points to Rate Hikes, Uncertainty on Trade Tensions
April 06, 2018 — The Federal Reserve will likely need to keep raising U.S. interest rates to keep inflation under control, Fed Chairman Jerome Powell said, adding that it was too soon to know if rising trade tensions would hit the U.S. economy.