Another Day, Another Article in a Mass Circulation Publication Calling for a New World Order
February 7th, 2009Via: Time:
In the view of many outside the U.S. (and some within), the only way to limit such excesses is through a bigger, more powerful IMF that can act as a central bank to the world–and knock heads when needed. While everybody agrees that this new IMF needs to be less dominated by the U.S. and Western Europe, things get controversial as soon as you go past voting rights. Should capital flows be restricted? Should there be limits on trade deficits and surpluses? Should the IMF be able to order around even the U.S.? If the answer to any of these questions is yes, global capitalism will have entered a new and dramatically less freewheeling era.
What goes around comes around. The US is SO on the road to being a third world country, and this is just another sign. I wonder who the economic hitman will be that will make us an offer we can’t refuse?