Japan

[pms]

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