Sunday, October 16, 2011
Tim Geithner's Third World Mentality
In the 1970's 1980's third world despots would rant and rave whenever the IMF and other independent agencies would lower their credit rating and mandate austerity measures as a prerequisite to receiving more loans. Left wing intellectuals would decry "economic imperialism," failing to note that if the policies that the third world governments chose to pursue had resulted in economic growth, rather than spiralling debt and inflation, such loans would not be necessary. Treasury Secretary Geithner's rant against the S and P for downgrading our credit rating was eerily reminiscent of these third world losercrats. The most serious sign of a nation's decline is when its leaders and intellectuals abnegate personal responsibility and adopt a narrative of victims and victors.