IMF and debt: a new consensus?

15 April 2021 — Michael Roberts Blog

by michael roberts

There is much talk among ‘progressive’ economists that the IMF and the World Bank have turned over a new leaf.  Gone are the days of supporting fiscal austerity, demanding that national governments get public debt levels down and insisting on conditions for countries borrowing IMF-WB funds that their governments privatise their state assets, deregulate markets and reduce labour rights.

Continue reading

Ecuador: reversing the pandemic slump?

8 February 2021 — Michael Roberts Blog

by michael roberts

The leftist candidate Andrés Arauz took the lead in the first round of the presidential elections in Ecuador.  Arauz won 31.5 per cent of the vote, putting him about 11 percentage points clear of his nearest rivals. It was unclear who Arauz would face in the run-off. Indigenous leader Yaku Pérez and Guillermo Lasso, a wealthy ex-banker, were in a technical tie for second place, with Perez on 20.04 per cent to Lasso’s 19.97 per cent.  The second run-off round will be in April but if Arauz runs against the pro-business Lasso, he is likely to win; it’s less sure against Perez.

Continue reading

Modi’s Farm Produce Act Was Authored Thirty Years Ago, in Washington D.C.

A Telugu translation is available as a pdf.

The kisan agitation at the gates of Fortress Delhi has forced even the corporate media to take note of the corporate drive to capture control of the remaining non-corporate sectors of the country’s economy, including its agriculture; the phrase “Ambani-Adani” is now a popular term for this process.

Continue reading

Indian Farmers on the Frontline Against Global Capitalism

1 February 2021 — Global Research

In a short video on the empirediaries.com YouTube channel, a protesting farmer camped near Delhi says that during lockdown and times of crisis farmers are treated like “gods”, but when they ask for their rights, they are smeared and labelled as “terrorists”.

He, along with thousands of other farmers, are mobilising against three important pieces of farm legislation that were recently forced through parliament. To all intents and purposes, these laws sound a neoliberal death knell for most of India’s cultivators and its small farms, the backbone of the nation’s food production.

Continue reading

US Hits “Search and Destroy” Against China’s New Silk Roads

10 December 2020 — Asia Times

By Pepe Escobar

Seven years after being launched by President Xi Jinping, first in Astana and then in Jakarta, the New Silk Roads, or Belt and Road Initiative (BRI) increasingly drive the American plutocratic oligarchy completely nuts.

The relentless paranoia about the Chinese “threat” has much to do with the exit ramp offered by Beijing to a Global South permanently indebted to IMF/World Bank exploitation.

Continue reading

The IMF smokescreen

24 October 2020 — The Next Recession

By Michael Roberts

In its latest World Economic Outlook report, the IMF again tackled the issue of climate change, global warming and what to do about it.  As it did last year, the IMF recognised that climate change was a burning issue for humanity and the planet.  But this time it claimed that there were policy options that could stop any further heating to a tipping point beyond which there was no turning back. Continue reading

China’s Belt and Road (BRI): Investment and Lending Practices in Developing Countries. Is There a “Debt Trap”?

25 August 2020 — Global Research

China’s One Belt One Road project has been a great source of speculation for some time since its announcement by the Communist Party of China and China has since fielded a barrage of endless accusations that they are seeking to assert “global hegemony” and consequently engaging in imperialism since then.

Corona Tyranny – and Death by Famine

8 May 2020 — Global Research

By the end of 2020 more people will have died from hunger, despair and suicide than from the corona disease. We, the world, is facing a famine-pandemic of biblical proportions. This real pandemic will overtake the “COVID-19 pandemic” by a long shot. The hunger pandemic reminds of the movie the Hunger Games, as it is premised on similar circumstances of a dominant few commanding who can eat and who will die – by competition.

This hunger pandemic will be under-reported or not reported at all in the mainstream media. In fact, it has started already.

Continue reading

Ecuador’s Austerity Measures, Repression Based on Lies AP Happily Spread

23 October 2019 — FAIR

by Joe Emersberger

AP: Ecuador deal cancels austerity plan, ends indigenous protest AP piece in the LA Times (10/14/19)

Bernie Sanders tweeted an Associated Press article in the LA Times (10/14/19) about Ecuador’s recent protests, in which eight protesters were killed in 11 days. “Economic elites keep pushing austerity worldwide, making life unbearable for working people,” Sanders declared. Unfortunately, that AP piece was itself a good example of how elites push for austerity.

Continue reading

Burn, Neoliberalism, Burn By Pepe Escobar

23 October 2019 — Strategic Culture Foundation

Neoliberalism is – literally – burning. And from Ecuador to Chile, South America, once again, is showing the way. Against the vicious, one-size-fits-all IMF austerity prescription, which deploys weapons of mass economic destruction to smash national sovereignty and foster social inequality, South America finally seems poised to reclaim the power to forge its own history.

Continue reading