Corrupt IMF says high unemployment to persist

[singular_me]

Corrupt IMF says high unemployment to persist

“”The high degree of financial stress and the high degree of uncertainty all weigh against a speedy recovery in job creation,” the Washington Post quoted the IMF as saying.”

“Unemployment in industrialized countries will likely remain high this year and next, and central banks should keep interest rates low, the International Monetary Fund said Wednesday. It also said governments should be prepared to spend on job creation.”

Let’s get things straight: you cannot spend your way into prosperity,wealth creation as jobs come from savings which in turn create capital investment (manufacturing), entrepreneurship with people seeking profit. Low interest rates means inflation of the supply of money therefore undermining savers, and chasing capital away, which adds regulation, price controls and higher taxes and we could be talking about the same lack of jobs for a decade. Infrastructure is wonderful but this is something that should be done with surpluses not in bad times.

http://www.youtube.com/watch?v=mSAkoUAFvrE&feature=player_embedded


http://www.youtube.com/watch?v=5_s-wh4iJhA&feature=player_embedded


more
http://www.thecomingdepression.net/main-street/scams/corrupt-imf-says-high-unemployment-to-persist/

[Horn]

The Somalian Pirates may be looking for a few good replacements?

Somali Pirates May be Heading to German Court


A group of 10 suspected Somali pirates are in the Netherlands - and likely heading to Germany shortly to face trial. Their case is unusual - many alleged pirates are released. VOA reports on the international legal quagmire surrounding piracy off the Horn of Africa.

As piracy has exploded off the Horn of Africa so has the international quandary about what to do with suspected pirates. Many are arrested, notably by the European Union's anti-piracy unit, and have simply been disarmed and released.

But for some 10 suspected pirates who arrived in the Netherlands Wednesday, it's different. Germany has requested their extradition to try them in German courts.

Roger Middleton is an Africa analyst at Chatham House policy institute in London:

"The unique situation here is that the Germans are trying it because those pirates attacked a German vessel with I think a German crew on board, so there's a clear national interest in this case," Middleton said.

Another alleged Somali pirate was sent to the United States last year, to face trial in New York.

But too often, Middleton says, countries whose ships have been attacked by Somali pirates are reluctant to try them in their own territory - an expensive and complicated process. Trying them in Somalia is out of the question, since the country lacks a functioning government.

If the suspects are not released, they have very often been sent to Kenya for trial. But Nairobi has recently expressed reluctance about taking on new piracy cases, arguing its criminal justice system is already overburdened.

http://www1.voanews.com/english/news/africa/east/Somali-Pirates-May-be-Heading-to-German-Court-90963019.html

[Ponce]

With no export is that so surprising?

"No Export = No Recovery"... Ponce