The IMF’s role in intervening in indebted nations is more than controversial. I am absolutely sure from the research I’ve carried out that its’ intervention directly increases poverty in virtually every stated case of ‘aid’. And I intend to prove it. Source 1 (http://www.globalissues.org/article/…use-of-poverty
) from Globalissues.org, a major international anti-poverty research organization and think tank states the following(to paraphrase): ‘Many developing nations are in debt and poverty partly due to the policies of institutions like the IMF and the World Bank. The way the IMF goes about its policies directly reduces spending on state services. In effect, the IMF and the World Bank have demanded that poor nations lower the standards of living of their people’ .On Saturday last, May 7th, Morgan Kelly released what was an almost historic article criticizing the Central Bank of Ireland Governor Patrick Honohan, but that was not the main theme of it. Source 2 (http://www.irishtimes.com/newspaper/…296372123.html
) is titled ‘Ireland’s future depends on breaking free from bailout’ from that day’s issue of the Irish Times. It has since being quoted internationally as proof of our impending default. In it, he states that (despite claiming the IMF were very lenient compared to the ECB and EU on being pro-partial default/’restructuring’) the Troika are ‘loan sharks’ and that the obligations of pandering to such tally men are so austere that bridging the government debt between tax and spending straight away is a must for us to have any future long term and that even though this would be more immediately austere, it is preferable to the Troika’s permanent neo liberal clutches. He makes a compelling argument. And thus, deriving from my anti-troika approach, this respected economics lecturer in UCD has laid the basis for my argument. How could an organization be so evil, so hideous and so impoverishing of third world and now, ‘developed’ societies, that immediate ‘total fiscal adjustment’ or to speak English, to make finding as much of 17.6 bn euros overnight as possible through immediate taxation, capital controls and cuts, be a preferable alternative ?A recent study carried out by the Irish Pharmacy Union (Source 3: http://www.politicalworld.org/showth…pharmacy+union
) certainly supports the well professed notion that the IMF causes health deterioration. For example, one of its’ main findings was that there have been major rises in Irish stress levels this year. The IMF came to town last November. The aforementioned source leads on to a discussion derived from Source 4 who broke the news. The excellent breaking news.ie(Source 4: http://www.breakingnews.ie/ireland/s…#ixzz1LiQ1uB3c
) was first out as it always is with this story. ‘The survey found that more people are telling chemists/pharmacies that they are experiencing stress related symptoms. There has been a 75% increase in sleeplessness and 60% more have experienced stomach problems’ – than this time last year – both of these things are directly related to higher stress problems for Irish people.
These problems are related to other factors. Source 5(http://www.politicalworld.org/showth…t=Credit+union) shows the findings and public discussion of a recent study by the Irish League of Credit Unions which found the following: ‘One in five people have just €70 disposable income each month after monthly bills are paid, a survey by the Irish League of Credit Unions has found. The ILCU’s ”
What’s Left Tracker” also found that 80% of families are worried they will not cope if an unforeseen expense arose.
Revealing an increasingly pressurised and cash- strapped population, the survey also found more than a third of the people questioned also see no future in Ireland for themselves or their family.
Carried out across Ireland, the ILCU report also found that despite suggestions that saving levels have increased in recent years, almost half of those surveyed did not have enough money to save.
Other statistics from the survey included:
* As many as 735,000 Irish adults have just between 1% and 5% of their income left after paying essential bills.
* For 6%, or 210,000, Irish adults, income doesn’t even cover essential bills.
* A further 7% of those surveyed said they have nothing left to live on after paying essential bills.
* Just one-in-five of the people surveyed said they have enough to enjoy themselves each month.’
What this shows is that at least 935’000 people are financially pressured in this country. Now when one considers that the maximum limit of having in a credit union account is 23 thousand euro, you can see this is predominantly the class of low paid working people, students, possibly some of the recently unemployed’s redundancy payments, part time workers and pensioners. Financial pressure is directly the main cause of stress for ordinary Irish people. Stress causes illness and depression. Since the IMF came in, we’ve had 6 billion euro more taken out of the economy, unemployment is already 14.7%(well above what the IMF forecasted as the maximum for this year). Austerity increases poverty which increases health problems. There you have it-in Ireland’s case alone poverty has been increased since last November’s first visit by the IMF and health problems subsequently deteoriate. Unsurprisingly, hospital waiting lists for a bed and numbers on trolleys are also ever rising. Ireland needs to tear loose these vultures.If our govt. wont, we should do it ourselves. Oh, and I too hold a credit union account. Stress…Watch this space.
Next day I will move onto Abstract 2: Direct causes of Death: How the IMF’s support of dictatorships and overthrowing of Marxist Governments with the CIA and the White House led to mass executions.
Andrew Purlfield 14.5.2011
Source 1 (http://www.globalissues.org/article/…use-of-poverty)
Source 2 (http://www.irishtimes.com/newspaper/…296372123.html)
Source 3: (http://www.politicalworld.org/showth…pharmacy+union)
Source 4: (http://www.breakingnews.ie/ireland/s…#ixzz1LiQ1uB3c)
Source 5: (http://www.politicalworld.org/showth…t=Credit+union)