Monday, November 23, 2009
IMF Warns of Revolution if Another Round of Bailouts Is Handed Out
Many officials and experts have warned of violence stemming from the economic crash.
The head of the International Monetary Fund, Dominique Strauss-Kahn, is now warning that there might be a revolution if some countries if governments hand out another round of bailouts to the financial sector:The public will not bail out the financial services sector for a second time if another global crisis blows up in four or five years time, the managing-director of the International Monetary Fund warned this morning.Dominique Strauss-Kahn told the CBI annual conference of business leaders that another huge call on public finances by the financial services sector would not be tolerated by the “man in the street” and could even threaten democracy.
"Most advanced economies will not accept any more [bailouts]...The political reaction will be very strong, putting some democracies at risk," he told delegates.
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i am ready to go now, just after the first round of bailouts, which should have never happened. if there is a second round, game over. society comes to a screeching halt as the masses rise up and decimate the ruling elite once and for all.
ReplyDeleteThat's why the Bush administration implemented the Patriot Act and issued the NSDP 51. Consequently, everything will be under total control if Martial Law is required in the United States. Government is always one step ahead of those who labeled themselves as "patriots."
ReplyDelete"another huge call on public finances by the financial services sector would not be tolerated by the “man in the street” and could even threaten democracy. "
ReplyDeleteOh, the irony. The center of Capitalism - Wall Street - turns the world into a socialist state by eating its own in greed.
"could even threaten democracy"!!!!! A public rejection of the hypothesized second round of bailouts would be the resurfacing of the democratic spirit not seen in so long that most of the commentators and authorities believe that the governments we have now in developed economies are actually democratic!!! They are liberal oligarchies at best as evidenced by the episodes of the last couple years.
ReplyDeleteThis is correct. The next bailout would take place with the banking system more consolidated than ever and it would result from excessive leverage in derivatives gone bad. This time the rescue package would have to be in the multi-trillions, and the public would rightfully be enraged at the crony capitalism involved. In fact, it could take US-style capitalism down as a system and would likely end US hegemony.
ReplyDeleteHow can a political reaction put these democracies at risk, when they're not democracies in the first place? Dominique Strauss-Kahn has his hat on backwards.
ReplyDeleteAt least HomeDepot stock will recover via pitchfork sales.
ReplyDeletePlease, PLEASE hand out another Bailout so we can hit the streets and get it over with!
ReplyDeleteAs a matter of fact, Why wait?
I predict that Chinese-made toy LRAD vehicles, complete with miniature stormtroopers, will be one of the hottest-selling items next Christmas. I predict this because, uncder Martial Law, the President will require all parets to buy them for home use.
ReplyDeleteFrom a great 19th Century American anarchist, Henry David Thoreau -
ReplyDelete~
"Unjust laws exist: shall we be content to obey them, or shall we endeavor to amend them, and obey them until we have succeeded, or shall we transgress them at once? Men, generally, under such a government as this, think that they ought to wait until they have persuaded the majority to alter them. They think that, if they should resist, the remedy would be worse than the evil. But it is the fault of the government itself that the remedy is worse than the evil. It makes it worse. Why is it not more apt to anticipate and provide for reform? Why does it not cherish its wise minority? Why does it cry and resist before it is hurt? Why does it not encourage its citizens to put out its faults, and do better than it would have them? Why does it always crucify Christ and excommunicate Copernicus and Luther, and pronounce Washington and Franklin rebels?"
~
Read it at - jeffersonrivercoalition dot com
/Thoreau_Civil_Disobedience.htm
Salute!
Elias