Channel 4: Britain commits extra 10bn to international monetary fund
Let me get this right...
Every Western country that followed this fashionable Chigaco School Neo-liberalist 'free market decides' 'let the financial sector free' dogma has now got themselves into a massive hole. So we now have the IMF who usually only lend money to bail out countries to stop them defaulting on their debts to the bankers and in exchange for which they usually insist on those countries on cutting their public spending and imposing harsh austerity measures and them selling of all state assets. Of course we're seeing that doesn't really work very well (and if you look into the IMF's history – you'll see it has never worked well – except for the bankers, they got their loans and interest back and the populations were left starving). So here we are in the UK where Osbourne has pre-empted having to go cap-in-hand to the IMF – by doing everything the IMF would have made us do anyway for a loan... without getting any sort of a loan in return. Our reward for this 'prudence' – is to have to give the IMF £10 billion more? Which he'll have to pay for by even less public pending – even more cuts and even more austerity on top of that he's already committed us to. (This money never comes out his rich mate's pockets have you noticed?) Er. Looks a bit like a 'lose – lose – and lose some more' scenario to me.
Isn't it obvious that a collective mass hysteria has infected those people in power – these financiers and bankers – they're behaving like out of control compulsive gamblers – stealing the food out of their own children's mouths to get the money to feed the slot machines or bet on the next turn of the roulette wheel. We need an intervention to stop them stealing our wealth from us. It's got to stop. It will stop but will it be a controlled braking or a massive crash with no survivors?