Headline from Geneva: “IMF says clean up banks to tackle dire world crisis”.
“GENEVA (Reuters) – The world is in a dire economic crisis, but no recovery is possible until the financial sector is cleaned up, the head of the International Monetary Fund said on Monday.
“The crisis will push millions into poverty and unemployment, risking social unrest and even war, and urgent action is required, IMF Managing Director Dominique Strauss-Kahn said.
“‘Bluntly the situation is dire,’ he told a meeting on the crisis at the International Labor Organization, a United Nations agency representing unions, employers and governments that studies Labor issues.
“Strauss-Kahn was talking less than two weeks before a summit of the G20 leading nations on April 2 to tackle the crisis.
“As the crisis spills over into developing countries, millions of people will be pushed back into poverty and hardship, Strauss-Kahn said.
“‘All this will affect dramatically unemployment and beyond unemployment, for many countries it will be at the roots of social unrest, (for) some (a) threat to democracy, and may be in some cases it can also end in war,’ he said …
“But the prerequisite for success was the restoration of a healthy financial sector, he said.”
Albert Einstein once said, “The problems we face today cannot be solved by the minds that created them.” Truer words were never spoken.
The Managing Director mentioned above, however, isn’t buying it. He’s actually recommending that more taxpayer funds be thrown into the till that has already been dipped into by unscrupulous manipulators in the “financial sector” who created the “problems we face today”.
Even though he acknowledges the desperation of the unemployed, he glosses over the word “unemployment”. To his way of thinking, job creation is not where international funding should be directed. That’s not the name of the game. The “prerequisite for success is the restoration of the financial sector” is the “urgent action” he recommends … which is just another way of guaranteeing that the rich get rich and the poor get poorer.
It also guarantees that manufacturing facilities around the world will remain shuttered and the unemployed will remain unemployed. And it also guarantees what he claims to be so concerned about, that the crisis “will push millions into poverty and unemployment, risking social unrest and even war…”. [So, maybe WW III is what they really have in mind for us?]