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Strategies & Market Trends : Tech Stock Options
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To: j g cordes who wrote (53304)9/19/1998 3:42:00 PM
From: jjs_ynot  Read Replies (1) of 58727
 
>>> Congress is myopic. In failing to fund the IMF it demonstrated a loss of confidence not
only in US policy, but also our loss of confidence in other nations being able to pull
themselves up through financial assistance and structural remedy. <<<

I respectfully disagree. I think that the IMF is an entity that has outlived its usefulness. The IMF can not and should not be a lender of last resort for every developing country that pushes the gas pedal a little hard. The IMF has dramatically diverted from their original charter over the last 10 years.

It is the IMF prescription of high taxation and fiscal constriction that has caused much of the current world economic turmoil.

The US has an obligation and a vested interest in helping other countries overcome their financial difficulties. The IMF is NOT the venue to accomplish this task. The IMF route will bankrupt the middle class, enrich a few of the top bureaucrats and bail out banks for overzealous lending practices. Ultimately, this will do more harm than good.
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