Blackbird

A second attempt with Blogger. (Now No Longer in Beta) Note: The contents of these pages are my own personal views and in no way represent the views of the agencies for which I volunteer or the countries in which they are based. Peace.


A Snappy Zinger from Fareed


The last plenary session at the WEF last night featured the heads of state of the UK, South Korea, South Africa and Mexico. Fareed Zakaria moderated and gave the panel a zinger of a question.
 
He asked South Korean Prime Minister Han the following:
 
Back in 1998, during the Asian crisis, the IMF and other western powers forced a set of prescriptions on Korea which were bitter indeed:
 
1. Do not rescue failing institutions
2. Do not lower interest rates to near zero
3. Do not spend significant sums to stimulate the economy.
 
Now that the West is hit with this crisis they are implementing the inverse policies - why?

Posted via email from jcwinnie's posterous

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