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IMF Warns: Global Stagnation If Ukraine Not Bailed Out

 
 
 
 
 
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IMF boss recycles scary mantra used in 2008 to bailout too big too fail banksters.

IMF boss Christine Lagarde has recycled the bankster mantra as the globalists push for a bailout of Ukraine. “Geopolitical tensions” in Ukraine “could cloud the global economic outlook” and “could have broader spill over implications,” she told an audience at the Johns Hopkins University School of Advanced International Studies.

Lagarde fails to mention the same Orange Revolution kleptocrats who bankrupted the country previously will do the same after the IMF bailout.

Last week the IMF set aside around $18 billion to “rescue” Ukraine’s destroyed economy the West blames on the rule of Viktor Yanukovich, a democratically elected president who was replaced by a junta installed by the State Department.

In addition to IMF booty, large numbers on either side of the partisan divide in Congress voted recently to kick in an additional $1 billion.

Lagarde also said Russia’s reaction to the manufactured crisis and the vote by 97 percent of Crimeans in a referendum to join the Russian Federation have contributed to destabilizing the country.

Ms. Lagarde did not mention what the IMF package will do to the average Ukrainian. The package “puts virtually all the pain on average Ukrainians,” writes Robert Parry. “There is nothing in the economic ‘reform’ package that extracts some of the ill-gotten gains from Ukraine’s ten or so ‘oligarchs,’ the multimillionaires and even billionaires who largely plundered Ukraine’s wealth after the collapse of the Soviet Union in 1991.”

Parry notes what the corporate media has assiduously ignored: the IMF package will “reduce public spending, slash social programs, eliminate energy subsidies, devalue the currency, raise taxes, impose triggers for more austerity if inflation rises, etc.” and will, according to economists, “result in a 3 percent contraction of Ukraine’s already depressed economy, which fell into a severe recession after the Wall Street crash of 2008 and has been inching along at almost zero growth the past two years.”

The impending economic hardship and globalist looting of the country is scheduled to be implemented before Ukrainians have the chance to vote for a new government. This is a situation preferred by the IMF and the banksters because democracy and elections invariably get in the way of neoliberal fire sales and looting.

According to The New York Times, the United States and the European Union have decided not to press for early parliamentary elections because “the priority now is stabilization in Kiev and de-escalation with Moscow,” an escalation engineered to rekindle the Cold War, push more Eastern European nations into NATO, and pile up additional missile defense systems on the Russian border.

“Given such bleak economic prospects — and evidence of Western manipulation of the political process – is it any wonder that more than 90 percent of the voters in Crimea opted to leave Ukraine and rejoin Russia?” Parry writes.

Former congressman Ron Paul put it succinctly on Wednesday:

All this nonsense we hear now of bailing out Ukraine — it’s going to the bankers; it’s going for the politicians; it’s not really even going to help the people in Ukraine. It’s criminal. And yet the people here in this country are going to suffer.

These bailouts are always designed to bail out the banks. They are not designed to help the people — just like our bailouts were in ’08 and ’09. They were there to bail out the rich, the bankers, and the military industrial complex.

Finally, while a spate of polls show disapproval of military involvement in Ukraine in response to Russia, the establishment media has not yet conducted one asking Americans if they approve of sending a billion dollars to the faltering kleptocracy now run by a junta installed through fascist violence.

Such numbers, of course, for the global elite, are irrelevant. Increasing poverty is not simply a problem suffered by Ukrainians and others subjected to bankster austerity. It is also a fact of life in the United States.

On Thursday, the Associated Press reported the results of a General Social Survey poll. It reveals the number of Americans who consider themselves middle class is at the lowest level in the survey’s 40-year history.

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