cause I always sit next to someone breast feeding or eating a hot dog.
POST FROM Friday, July 30, 2004
Don't touch it if you don't wanna break it
Well yesterday was the day when the IMF finally admitted his lack of appropriate intervention in Argentina's economy during the last decade.
Here is the link IEO (Independent Evaluation Office).
I want to point out some things that kinda scared me not to say gave me my third and fourth stroke.
- When there are well-founded concerns over debt and exchange rate sustainability, it is unreasonable to expect a voluntary reversal of capital flows.
GO Kerry! Go Kerry! One could never guess what Georgie W. can come up with next.
- Staff consistently expressed reservations over the weak structural content of the successive arrangements, but management, supported by the Executive Board, overruled the staff objections to approve programs with weak structural conditionality. As it turned out, the lack of strong structural conditionality had the unfortunate outcome of obliging the IMF to remain engaged with Argentina when the evident lack of substantive progress in structural reform should have called for an end to the program relationship.
Does that mean the IMF is doing their current job because the murder evidence shows they got blood on their hands? I thought they were doing it out of pity and because of course they wanted their cash back.
Follow me here, if you borrow money to a thief and then he is killed by police, you can't ask the thief's family to pay for it right?
Then, if you borrow money to a corrupt administration and all the public is saying please don't, and you do, then when the administration changes they are prosecuted and go to jail, how come you ask the thief's family to pay for it? You knew we didn't want it. You knew it was money they were putting into personals accounts.
After chocking for a while the laughter came no shorter when I got to part D "Lessons from the Argentine crisis" . And I laughed because I couldn't believe this organism didn't already KNOW those things. I mean:
- Candid discussion of exchange rate policy, must become a routine exercise during IMF surveillance.
- The conduct of fiscal policy should be sensitive not only to year-to-year fiscal imbalances, but also to the overall stock of public debt.
- Weak program design and weak implementation in the context of arrangements being treated as precautionary do not help a country address its potential vulnerabilities.
-The IMF should not support strongly owned policies if it judges they are inadequate to generate a desired outcome.
-Decisions to support a given policy framework necessarily involve a probabilistic judgment.
-Delaying the action required to resolve a crisis can significantly raise its eventual cost.
-In order to minimize error and increase effectiveness, the IMF's decision-making process must be improved in terms of risk analysis, accountability, and predictability.
What can I say except THEY DIDN'T KNOW ALL THOSE THINGS!!!! How were these people responsible? I thought the IMF was a serious organization. This paper is a joke.
I want to know who cares about those millions of poor children dying? Our government was big part of the mess but somebody explain to me why would the IMF give billions of dollars to corrupt governments and then come up with "ooops we fucked it big time here, here and there".
So now they've written down the lesson they learned. What a shame what they've pointed out. Will there be any price for them to pay? Because of them a future of generations born into poverty will never merge out of it. But hey at least, they brought home a freaking huge lesson they really needed to learn. Although we are paying and will continue paying a hard price for just a simple piece of knowledge, look harder they are fuckers.
Now, I can't wait for our debt restructuring..oh boy, I hope years later they don't come up with a "Mom I didn't do it" excuse.
8/13/05 - It's probably not a great idea not to go to your medical appoitment when you get the best job they could have probably offered you, just because you want to mantein that perfect record of never taking a blood test.