IMF told to toughen scrutiny of rich powers

Comments (18)
txgadfly wrote:

It is time for the American Government to stop giving away the American market through neglecting an appropriate level for the dollar.

Emerging markets will have to accept they not only will not get a larger share of the US domestic market, they will get a smaller one. The Marshall Plan is over. No more preferences.

Oct 09, 2010 9:00pm EDT  --  Report as abuse
craigbhill wrote:

This is like the bankers to the Mafia being politely asked to “give scrutiny” to the Mafia.

ABSURD.

Oct 09, 2010 9:53pm EDT  --  Report as abuse
fred5407 wrote:

I don’t know who has been making the decisions, but they have been wrong. I think the investment banks and international corportations have been using the stooges running our government for private gain.

Oct 09, 2010 10:05pm EDT  --  Report as abuse
masalopes wrote:

txgadly,

What makes you think that The US is doing enmerging markets any favors? American corporations do whatver they want to do, stop blaming other countries for american greed. Obviously they do not care if they damage their own country as long as they put plenty of cash in their pockets by paying third world country wages.

Oct 09, 2010 10:36pm EDT  --  Report as abuse
diddums wrote:

America it all trickles to the top. China saves and buys resources.Chinese standard of living is going up as it trickles down, Americas is going down as it trickles up

Oct 10, 2010 2:34am EDT  --  Report as abuse
wrote:

The old blame game.
I’ve seen the dollar drop since 1950. The dollar has been dropping steadily, with slight swings up and then down again, ever since the 50’s. The dollar is not weak because China. China has only been an exporter in the last 20 years, not 60 years.
The dollar is weak because we print to much paper; to keep interest rates low; to pay for all the wars; to keep government spending up. We had Industry back then, and the dollar still became weaker & weaker. This blame game is all sherade.

Oct 10, 2010 3:36am EDT  --  Report as abuse
hariknaidu wrote:

Geithner is a salesman for turbo capitalism – going down the tubes along with the dollar and Yen.

Per capita GDP of mainland China is lower than Greece and other PIGS. Chinese argument is that they have no choice but to consolidate their development process and bring the hinterland from margins of abject poverty to gainful employment and
consumption. More than 50M have been raised out of abject poverty.

The same applies to India and rest of Asia, except Singapore which is relatively rich per capita.

Fed and BOJ quantitaive easing is another form of official devaluation of currency.
Intention being to render emerging markets currencies FX untenable, including Yuan and Rupee.

Either Geithner and his gang of turbo capitalists have learnt some lessons from recent financial meltdown or they’re clowns pretending to understand the fundamentals of globalization under WTO – policy strated under Clinton/Rubinomics.

Oct 10, 2010 4:47am EDT  --  Report as abuse
mastershakejb wrote:

lol @ third world failure USA. Meanwhile, Uruguay grows at double digit rates! :D

Oct 10, 2010 5:31am EDT  --  Report as abuse
tgs10 wrote:

And the Bush legacy lingers, and lingers, and lingers, and……

Oct 10, 2010 7:11am EDT  --  Report as abuse
nahummer wrote:

As the financial world moves from a Washington to a Beijing consensus it often seems ridiculous how little gets done at meetings like this one. It’s nothing but a forum for the Geithners of the world to yell ‘Currency War’ in an effort to continue the blame game to divert attention that allows the status quo to continue a little longer. You can’t fix things by blaming the other guy for beating you at your own game.

http://theendisalwaysnear.blogspot.com/

Oct 10, 2010 8:43am EDT  --  Report as abuse
Mott wrote:

It’s not the rich powers – it should be about unfair players.

Oct 10, 2010 12:16pm EDT  --  Report as abuse
DKielby wrote:

The “power over you” posture for governance can never produce compatibility at any level. The extremely wealthy (e.g. IMF, World Bank) know this and attempt to keep a low profile. Problem is the propensity to control dominates policies. Who has the heart of a selfless servant? Here only can our globe prosper.

Oct 10, 2010 12:35pm EDT  --  Report as abuse
bkhjon wrote:

I am unclear as to the definition of “imbalance”. China’s per capita income amounts to a little over US$3,000 whilst US approximates $50,000. Is this an “imbalance”?

Oct 10, 2010 3:37pm EDT  --  Report as abuse
StokeyBob wrote:

No matter how much honest money people can raise to build their county the way they want there are those that can just fire up the fiat money presses and print up what ever they want to see to it they get their way.

Maybe this will help make the danger of fiat money clear.

Imagine you and me are setting across from each other. We create enough money to represent all of the world’s wealth. Each one of us has one SUPER Dollar in front of him.

You own half of everything and so do I.

I’m the government though. I get bribed into creating a Central Bank.

You’re not doing what I want you to be doing so I print up myself eight more SUPER Dollars to manipulate you with.

All of a sudden your SUPER Dollar only represents one tenth of the wealth of the world!

That isn’t the only thing though. You need to get busy and get to work because YOU’VE BEEN STIFFED with the bill for the money I PRINTED UP to get YOU TO DO what I WANTED.

That to me represents what has been happening to the economy, and us, and why so many of our occupations just can’t keep up with the fake money presses.

Oct 10, 2010 5:35pm EDT  --  Report as abuse
rwmccoy wrote:

Hopefully, this so-called crises does not lead to governments abdicating more of their fiscal authority to the IMF. Thereby creating a super-national authority run by elitists with no accountability to the common people. These same common people are the ones who suffer from some of its draconian policies that are designed to protect large institutions but do so very little in real economic terms.

Oct 10, 2010 6:33pm EDT  --  Report as abuse
Jeanmichel wrote:

The USA, which accuses China of currency manipulation, is in fact the greatest currency manipulator and has been so over the last 70 years.

Oct 10, 2010 12:08am EDT  --  Report as abuse
Sinbad1 wrote:

The US situation has it’s roots in the US moving out of manufacturing and into financial services. The US blaming the rest of the world for it’s own poor financial management is not going to fix anything.

Oct 11, 2010 4:54am EDT  --  Report as abuse
breezinthru wrote:

Uruguay? Emerging markets?

Is that a bubble I see forming?

Oct 14, 2010 5:04am EDT  --  Report as abuse
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