Peter Blane


Posted in 1 by wusspett on October 5, 2009

This article is all I’m concerned with today as it covers a number of issues.

The main interviewee in this article by Gordon Isfeld is IMF Finance Minister Jim Flaherty.  I would like to at least give Jim credit for his tone.   In my opinion, he sounds like he’s trying to communicate what he does to a classroom of children on career day.  The reason I’m giving him credit is because this is largely the case.  A lot of people have no idea what all he does or why it’s important – it just sounds important – and that’s how people with no skills and a great resume get into the work force (different article required; for now let’s stay with Jim).

Jim mentions, at 2 different points, 2 things I find interesting.  Firstly

“Confronted with the biggest threat to the global economy in 70 years, many countries took extraordinary measures to protect both their economies and citizens from economic collapse.”


“But we’re going to see a lag. We’re going to see joblessness lag the recovery of the economy.  That’s always happened during a recession in modern times, so we have to expect that, and that’s why we have to continue stimulating the economy.”

Now, right away, why do we need the IMF at all then?  He didn’t say how the IMF helped other countries, he said what they did.  He also is saying what the IMF will do – future tense.  So, what’s the selling point here?

Then Jimbo says this:

“The IMF is a member-based institution, and if members do not take their responsibilities seriously, it does not matter if the IMF is legitimate or credible. It still will not be effective. The fund membership needs to improve its record of responding to and implementing IMF policy advice.”

Hahahaha, man what I would give to have that job!  So far, it sounds like the IMF’s members were lazy, good-for-nothin’s that gave bad advice.  I could be both serious and advise effectively.


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