The International Monetary Fund (IMF), better known for its ruthless enforcement of stringent budget constrictions on borrower nations, is urging the world's economic leaders to spend themselves into further debt and temporarily abandon their austerity measures.
As seen in the Huffington Post link below, International Monetary Fund Chief, Christine Lagarde, is urging European countries and the United States to employ economic stimulus.
http://www.huffingtonpost.com/2011/09/04/imf-lagarde-stimulus-us-europe-economy_n_948407.html
It sounds like the IMF believes our only hope of stemming the tide of a collapsing global economy is its version of a Hail Mary Pass.
European politicians appear to be rejecting the call. Given its current political climate, U. S. response is unlikely to be more enthusiastic.
At least some global financial leaders are becoming concerned about the persistence of the Great Recession's impact on social stability. An Arab Spring is one thing. Huge demonstrations in Israel, the massive protests in Madison last winter and the riots in England something else again.
Here's what I think...
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