The International Monetary Fund is warning the United States that the US deficit is too high and that world economy is at risk because of it. As it goes of late international bankers, partcularly in Asia, have floated the US a whole lot of cash to finance the deficits that have been the rule for most of the last 30 years. Because of the dominant place of the US dollar in the world economy (as a reult of the strength of the US economy and the dollarization of petroleum) investors have been willing to finance the US government in their extravegant spending on US corporations and the war machine. Is this coming to end? I doubt it. The bankers might back out eventually if it doesn't pay but the IMF in the end is controlled by the members and contributors, the US being the largest. Will the US dicipline itself through an international organization? I doubt it.
Will we be IMFed?
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