Following a prolonged loss of influence in Latin America in the first decade of the 2000’s, the International Monetary Fund (IMF) is back again, flexing its muscle in Argentina and Mexico, pushing the neoliberal Washington Consensus, says Vijay Prashad
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i think the imf bank mafia needs some communist redistribution
The IMF's shock doctrine for Rwanda, during the "Civil War" of the early 90's following an invasion from Uganda, were essential for creating the climate under which in 1994 the Rwandan Genocide could happen: structural adjustments to the war-torn agricultural nation instituted famine, leading to defections, creating paranoia, followed by societal collapse.
"Neo-liberalism" is a bullshit term used by reformists. For revolutionists, it's just capitalism.
I like Vijay but he's a reformist, not a revolutionary. A rotten system cannot be fixed. it can only be overthrown and replaced.
Confessions of An Economic Hitman by John Perkins.
Vijay Prashad – one the best minds on the "Third World"/ Core-Periphery!! <3
Typical anti America propaganda . No matter what this channel reports you can bet it ends blaming Jews and america.
I'm glad you interviewed Vijay on this topic because his insights are top shelf. Let's call this what it really is; the final battle between life and death. To think this business model will work again is pure madness or a death wish and all indicators are pointing to a death wish. These inbred, psychopathic worshipers of death seem to have cold feet; they see their death imminent but now want to embrace life; we're not going to have to wait long to see how this plays out.
One can't deny that Christine Lagarde of the IMF literally looks like a vulture…devil!
I place no faith in the peoples having any voice regarding what its political and financial leadership has in store for them.
The ability of Eurocentric , yes US is Eurocentric, goverment's ability to impose restrictions upon individual nations is due in large part because those in power are but connected interest that habe never realy felt harm or retribution from the populaces for their actions.
To put it bluntly the same people who have always stolen from a nations resources, until near bankruptcy of extractipn profits locally habing been off shored out of natoon and never used to improve beyond what was needed to support their wealthy lifestyles.
The billions of dollars in loans never realy trickled down to lower wage earners who were just glad to have a job to take care of everyday life, 70 % of 100 billions will flow directly back into foreign investors pockets while because of how these loans are structured depends on the poorest paying it back, and 30 % will be used to enrich those in power, watch their military spending budgets increase and buyong of foreign armaments, and further solidify the wealth creators powers and profits.
Whom ever controls the purse strings controls their evonomy but most importantly it controls and replaces their political leaders sovereignty, into being but a part of multinations needs, over and above needs of its populace.
There is very little variance between nations in % of populace that recieve greatest amount of financial programs benefits, 25-28 %.That % are the ones who either are direct administrators and their employees, those employed by top 500 industries, and all the smaller workers within non productive sectors, school teachers, government suppliers, professors at University level, while they may recieve minor cuts in pay they will still remain way above 75% of populace wage scales..
They have far less to worry about of paying for day to day living, and have enough leftover expendable incomes for luxury goods and insure their childrens education andva place at table of thatv25%.
Life and Debt under the IMF and crony capitalism!
IMF the real threat to a Nations sovereignty. Thanks. Corporate Media fails us.
Every member of the IMF should be behind bars, placed on permanent latrine duty, and allowed to rot in prison. Literally rot in prison.
They just come to my country Indonesia. Now we have have millions of dollar debt to them.
Why doesn't Latin America create it's own currency
Decreasing social spending causes the economy to shrink, while putting money in people's pockets grows the economy.
The biggest problem for the IMF is their track record.
They always do the same things that hardly ever work.
Our economists don’t know enough to see what’s wrong with austerity and even the IMF economists are in the same boat.
The IMF predicted Greek GDP would have recovered by 2015 with austerity. By 2015 Greek GDP was down 27% and still falling.
Neoclassical economists don’t consider the money supply or debt and this is where the problem lies.
You need to know that something extra that only central bankers know.
The money supply ≈ public debt + private debt The “private debt†component was going down with deleveraging from a debt fuelled boom. The Troika then wrecked the Greek economy by cutting the “public debt†component and pushed the economy into debt deflation.
Richard Koo has worked in a central bank and so knew that extra information.https://www.youtube.com/watch?v=8YTyJzmiHGk
Ben Bernanke read Richard Koo’s book and ensured the US didn’t cut Government spending. He could understand the book due to his central bank experience.I know as well as central bankers because I made the effort to find out.
Something our economists could try.
She is from France, Madame Christine Lagarde, her sole interest is to keep the US in a huge debt and she is like Trump, printing money to help him build his war weapons. NO sense to the IMF as they are crooks who have plundered from countries all around the world. Wordl Bank done under the disguise of wanting to help countries. Such a bunch of baloney as like everyone Lagarde has her dark secrets too.
I'm not an IMF and rating agency fun-boy but when Mexico, Argentina or any other country goes belly up and nobody is willing to lend to them but the IMF shouldn't the IMF or other foreign agencies, investors, etc. rightfully demand that such countries clean up their act well before they go belly up. The IMF is back in Latin America because many of the interim governments in Latin America (e.g. Argentina, Venezuela) looted the state coffers and run their countries ashore (esp. as commodity prices fell). The IMF was not created by Neo-Liberals but by Keynesians. I like your channel but pls stop being blindly on the left just for the shake of being against anything that is not left. Greg can we see some serious questions/hard talk from you and not just cheering Vijay. Let's be adults about the problems we face today.
Good interview
What the PTB and many call "neo-liberal" i call capitalFascist. Just think a little about which term is more descriptive.
The moment China offer an alternative to the world Bank we might see some changes sadly it will eventual come at a cost , no different than the IMF.
Capitalism and the use of currency has to go. It has turn the world into subservience to feudal Lords.
I always enjoy listening to Vijay's analysis.
there will be a blow-back "let them eat cake" didn't work before, won't work now
Very interesting analysis by Mr. Prashad. Neoliberalism is like a cancer that is spreading rapidly. TRN has great content you don’t see in other news outlets. Sad to see how few views and likes their videos get.
Get out of line and the banks will destroy you.
Let's just face the fact the IMF is a globalist tool to destroy a country from within, austerity measures guarantee the highest possible profit for them and whoever's actually in control. .
good interview Vijay Prashad knows what he's talking about, unwaveringly.
IMF…International Mafia Forever..