In this economist article (below) it gushing comments about how the new boss of the IMF, Christine Leguard has told everyone that what the world needs is yet more deficit spending, and more government money given to the banks. I know that the writers of economists find it difficult not to adore someone who’s both a woman and head of a powerful elitist institution, but her comments seem pretty stupid to me.
The world economy is reeling from decades of excessive debts that we can’t pay off, rounds and rounds of “stimulus” have done nothing to prevent recession, except create yet more debt, and the bankers have been routinely rewarded for their irresponsible behavior by being given yet more deficit based taxpayer money. It appears to me that Laguard wants yet more of the same, and the economist heartily seconds the motion. A few years ago I enjoyed reading the economist, but in the last two years it has become so conformist, mainstream and politically correct, but it’s not worth a lot today.