Rosa Brooks

It’s been a quick slide from economic superpower to economic basket case.
Rosa Brooks
September 18, 2008

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Dear United States, Welcome to the Third World!

It’s not every day that a superpower makes a bid to transform itself into a Third World nation, and we here at the World Bank and the International Monetary Fund want to be among the first to welcome you to the community of states in desperate need of international economic assistance. As you spiral into a catastrophic financial meltdown, we are delighted to respond to your Treasury Department’s request that we undertake a joint stability assessment of your financial sector. In these turbulent times, we can provide services ranging from subsidized loans to expert advisors willing to perform an emergency overhaul of your entire government.

As you know, some outside intervention in your economy is overdue. Last week — even before Wall Street’s latest collapse — 13 former finance ministers convened at the University of Virginia and agreed that you must fix your “broken financial system.” Australia’s Peter Costello noted that lately you’ve been “exporting instability” in world markets, and Yashwant Sinha, former finance minister of India, concluded, “The time has come. The U.S. should accept some monitoring by the IMF.”

We hope you won’t feel embarrassed as we assess the stability of your economy and suggest needed changes. Remember, many other countries have been in your shoes. We’ve bailed out the economies of Argentina, Brazil, Indonesia and South Korea. But whether our work is in Sudan, Bangladesh or now the United States, our experts are committed to intervening in national economies with care and sensitivity.

We thus want to acknowledge the progress you have made in your evolution from economic superpower to economic basket case. Normally, such a process might take 100 years or more. With your oscillation between free-market extremism and nationalization of private companies, however, you have successfully achieved, in a few short years, many of the key hallmarks of Third World economies.

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Economic Icebergs & Opportunity

US markets are rallying from yet another staged ‘crisis’ on the way
to impact with the economic iceberg -the real one- which lies ahead.
This particular crisis marks the formal first move to Third World economic
status and a socialist command economy. And yet, despite this, we are all
also on the cusp of opportunity. Fintan Dunne analyses the Meltdown.

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I wonder when it will dawn on sovereigns that they need to get a life and fuck the ‘job’? wonder when it will dawn on sovereigns that they need to take back their lives and the country will follow? I wonder when it will dawn on sovereigns that they are only tied to Wall Street and Washington DC as long as they continue to give their power away to these crooks and liars?

Does anyone believe the settlers who landed on the shores of North America looked around and said, “No jobs here, let’s go back to Europe”?