Thursday, December 30, 2010
Where is IMF??
During the Asian financial crisis in 1998, IMF played a significant role in rescuing Thailand, South Korea, Indonesia, and the Philippines by imposing its free economy, free market, and laissez faire propaganda. Where is IMF during the 2008 financial chaos?? It seems to everyone that IMF is running out of ideas too. No one is going to save the USA, except American itself. Even friends and allies cannot save each other. The bankruptcy of Iceland is a good example. As a member of NATO, no one in NATO can help Iceland. As a result, Iceland had to ask NATO’s enemy -- Russia for a $5.4 billion loan on October 7, 2008. At the same token, EU cannot save all banks in the EU. Germany and the U.K. can save its own banks, but not banks in Poland or Hungary. The beginning of the crack in NATO and EU has started. The neoconservative scholar Francis Fukuyama’s “end of history” does not appear to be happening? Or this chaotic era might indicate the beginning of the “end of the American Empire.”