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Date Posted: 23:37:02 02/15/00 Tue
Author: Anonymous
Subject: So you would have us live on credit?
In reply to: 's message, "Re: Tried and proven paths based on YOUR environment" on 11:40:42 02/15/00 Tue

Malaysis did the right thing and rejected the IMF prescription.

The developed world is thriving at the expense of the underdeveloped world because of globalisation. The lavish lifestyle of the west, especailly US, continues because they can afford it by reducing the cost of most consumer items. And they do that by exploiting the cheap, sometimes child labour in the east.

You will never convince me that the developing world will grow rich by adopting your ways of doing things because once that happens the whole wolrd will reach a state of dyanmic equilibrium resulting in economic stagnation due to lack of consumptiom.

The whole USA economy is powered by consumption funded by debt!Their hous'ehold savings ratio is negative (-3%-10%!!) tell me if thats sensible economics. They are living on fiat money that is underpinned by the cheap products (and cheap labour) from Asia. Tell me whether that does not amount to the third world subsidising the lifestyle of the glutonous lifestyle of the west, especailly the 1% of the US that owns 50% of the Stock on Wall Street!!

The wealthiest nation has 30 milliom of its citizens that live below the poverty line. Is that development?

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