Working Life

To the list of institutions and individuals who totally screwed up the global economy — and the lives of tens of millions of people — let us now read the mea culpa of the International Monetary Fund. But, this isn’t a mea culpa in the sense of “we didn’t understand”. It’s an admission of “we didn’t care what other people said, we didn’t listen, we did what we wanted and none of us will pay the price”. The fucking arrogance.

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The obsession over balancing budgets and reducing debt is a foolish global exercise at a time when people need governments to spend more money to create jobs and demand. And one of the great wizards behind the curtain of the foolishness is the International Monetary Fund.

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I don’t claim to have a deep knowledge of current Egyptian politics. So, I start out by saying I’m cautious about falling in love quickly. But, heck, Hamdeen Sabahi has a big mark in his favor: he does not like the so-called “free market”.

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