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IPFS News Link • World News

IMF Austerity Is Headed to America – Watch Out!


The current arguments – much in the news – about cutting spending in the US are not exactly what they seem. They are likely aimed at imposing an IMF-style austerity on the US of the sort that developing nations throughout the world have found both onerous and ineffective. If you want to understand what the IMF and Western powers-that-be have in mind for America, take a look at this interview we ran a few weeks ago with John Perkins, author of Confessions of an Economic Hit Man.

This is America's future, one of government-induced privation and societal misery. Study the dominant social themes of the elite, its recent fear-based promotions, and one begins to get a sense more fully of what is being prepared. The signs are increasingly visible. Throughout last week Western markets and media focused on a warning from Standard and Poor's (S&P), which downgraded the US debt outlook from stable to negative for the first time in 70 years. Will maintream financial media still continue to use the ludicrous term "risk-free Treasury paper?"

Late last week, London's prestigious Financial Times carried an editorial on the subject entitled Easter Parade of Worries. According to the FT, "S&P's aim plainly was political. US politicians must agree on a policy to reduce the deficit. This must involve cutting spending, reducing entitlements and raising taxes. Who exactly bears the brunt of these remedies is a political question, not an economic one. No politician wants to be responsible for such things, so it is no surprise that they avoid the problem."