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IMF warns US on ballooning fiscal burden
(www.ft.com)
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this post was submitted on 10 Jun 2024
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I still think the US debt is meaningless. Don't see why they would need to do austerity regardless how big the debt is. If they do implement austerity, which they may at some point, it won't be because of the debt but because they have decided it is in their advantage to do so. Austerity is a means of disciplining the working class. It's for beating us into submission so we come begging to capital for scraps.
The US debt is meaningless so long as the USD remains the global reserve currency. With the current trends of dedollarization that may not last for much longer.
It may be a splitting of hairs as well, but I would argue that domestic US financial policy vis a vis US workers has been austere for fifty years. Expenditures on private industry only grow, while any and all services for the services for the people are ruthlessly cut.
I agree. Which is why the IMF rhetoric is suspect. It almost feels like a new narrative thread is being developed with the end goal of manufacturing consent for austerity in the USA. Why would they do that? I can only imagine the goal is to "reform retirements and pensions" meaning loot the old, loot social security, end Medicaid and Medicare, and blame it on "the other" in order to generate more support for mass imprisonment, sanctions, and war (but I repeat myself).
Let the record show June 10 2024, Freagle puts a bet down that these words from the IMF will be referenced later to justify austerity and a bunch of liberals are going to support killing the poors via neglect because "fiscal responsibility" and "vote blue if you want to fix it".