Japan

pms laflame at aaahawk.com
Sun Sep 22 21:59:26 PDT 2002


What's scary is that we don't know what the admin's goals are, do we? I mean, didn't they tighten in '29? Or something like that? I think assuming disasters are mistakes is naive. And don't most on this list usually claim that the IMF is a creature of the US, or at least factions in the US? And maybe it's only a volley, as mentioned earlier, in the USD war-game. Whatever, it ain't some simple thing with all the players meaning what they say or saying what they mean. Know what I mean. If you do, 'plain it to me pls. ----- Original Message ----- From: Doug Henwood <dhenwood at panix.com> To: <lbo-talk at lists.panix.com> Sent: Sunday, September 22, 2002 7:56 PM Subject: Re: Japan


> Peter K. wrote:
>
> > >For the United States, the IMF said, authorities should tighten
medium-term
> >>fiscal policy, encourage private saving and take measures to boost
investor
> >>confidence.
> >
> >[Fiscal tightening? Perhaps we should ignore them
>
> Of course. As Stiglitz pointed out, when these things came in from
> the IMF, the Clinton admin would just throw them in the trash. Fiscal
> tightening with a near-dead "recovery" would make no sense at all. Of
> course, Argentina doesn't have much choice; the U.S. does.
>
> Doug



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