This is a bit like being given sailing tips by the captain of the Titanic. Lagarde was the finance minister in president Sarkozy's lamentable French administration who had been a spectator as the world's economy was crashed into recession by out of control bankers. She spent much of 2008 Gallically shrugging but offering nothing useful while Brown and Obama attempted to right the ship.
Now she presides over the single tool IMF, an organisation that assumes austerity is the solution to every economic problem facing any country across the globe.
But even her economists - those in the organisation who actually understand how these things work - have given Osborne the thumbs down, arguing that he will not be able to balance the books if he sticks to his failed programme.
The FT agreed with those economists and this week even the Times has weighed in reminding people that it was the bankers who crashed the world economy and not the labour party.
Lagarde continues the IMF's proud tradition as summarised by Bruce Cockburn in his withering Call it Democracy:
Padded with power here they come
International loan sharks backed by the guns
Of market hungry military profiteers
Whose word is a swamp and whose brow is smeared
With the blood of the poor
Who rob life of its quality
Who render rage a necessity
By turning countries into labour camps
Modern slavers in drag as champions of freedom
Sinister cynical instrument
Who makes the gun into a sacrament --
The only response to the deification
Of tyranny by so-called "developed" nations'
Idolatry of ideology
North South East West
Kill the best and buy the rest
It's just spend a buck to make a buck
You don't really give a flying fuck
About the people in misery
IMF dirty MF
Takes away everything it can get
Always making certain that there's one thing left
Keep them on the hook with insupportable debt
See the paid-off local bottom feeders
Passing themselves off as leaders
Kiss the ladies shake hands with the fellows
Open for business like a cheap bordello
And they call it democracy
And they call it democracy
And they call it democracy
And they call it democracy
See the loaded eyes of the children too
Trying to make the best of it the way kids do
One day you're going to rise from your habitual feast
To find yourself staring down the throat of the beast
They call the revolution
IMF dirty MF
Takes away everything it can get
Always making certain that there's one thing left
Keep them on the hook with insupportable debt
International loan sharks backed by the guns
Of market hungry military profiteers
Whose word is a swamp and whose brow is smeared
With the blood of the poor
Who rob life of its quality
Who render rage a necessity
By turning countries into labour camps
Modern slavers in drag as champions of freedom
Sinister cynical instrument
Who makes the gun into a sacrament --
The only response to the deification
Of tyranny by so-called "developed" nations'
Idolatry of ideology
North South East West
Kill the best and buy the rest
It's just spend a buck to make a buck
You don't really give a flying fuck
About the people in misery
IMF dirty MF
Takes away everything it can get
Always making certain that there's one thing left
Keep them on the hook with insupportable debt
See the paid-off local bottom feeders
Passing themselves off as leaders
Kiss the ladies shake hands with the fellows
Open for business like a cheap bordello
And they call it democracy
And they call it democracy
And they call it democracy
And they call it democracy
See the loaded eyes of the children too
Trying to make the best of it the way kids do
One day you're going to rise from your habitual feast
To find yourself staring down the throat of the beast
They call the revolution
IMF dirty MF
Takes away everything it can get
Always making certain that there's one thing left
Keep them on the hook with insupportable debt
Enough said..?
No comments:
Post a Comment