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Politics : Bill Clinton Scandal - SANITY CHECK -- Ignore unavailable to you. Want to Upgrade?

To: dougjn who wrote (6918)	10/3/1998 5:08:00 PM
From: Bilow	Read Replies (1) \| Respond to of 67261

Hi dougjn; Regarding that IMF funding, etc. When I was younger, I knew all the answers to these sorts of questions. Having admitted my own ignorance, I suggest that the IMF is running without a clean windshield themselves. If they knew what they were doing, they would have (1) Predicted all of this, and planned for it. (2) Not have lost all that money to Russia, etc. My primary complaint about the IMF is that their advice seems to be contrary to what nations undergoing depression have traditionally done. Wouldn't they have prevented Roosevelt from devaluing the US dollar back in 1933? It seems to me that the actions of the IMF are more likely calibrated to protect the large 1st world money-center banks. In that sense, they are protecting the developed world's capitalist system, not the countries they give advice to. -- Carl

To: dougjn who wrote (6918)	10/3/1998 5:16:00 PM
From: Dwight E. Karlsen	Read Replies (1) \| Respond to of 67261

That's right. What should we care if demand from Latin America collapses? Indeed, why should we? You make a good point, doug. Kudos. Similarly, why should we care if demand from China collapses, or Russia? The US Taxpayer can't be expected to bear the burden of financial recklessness on the part of big businesses in those countries. The large companies in these third-world developing nations made huge and risky gambles: the spoils of which you can be sure would not have been shared with the US taxpayer. But when the gambles don't pay off, they know who they can call: Bill Clinton, who is only too happy to provide billions of taxpayer dollars to paint himself as a hero with.