Posted on 09/13/2016 8:14:05 PM PDT by Lorianne
Two months after consultancy giant McKinsey dramatically flip-flopped on its long held position of praising globalization, cautioning that - as Britain's vote to exit the European Union exemplified what happens when people feel like the system is letting them down - the system is on the verge of "explosion", comparing the buildup of resentment over globalization to a dangerous natural gas leak in a row of houses, today it was the IMF's turn. In a speech titled "Making Globalisation Work For All", IMF managing director Chrstine Lagarde became the latest in a growing chorus of senior policymakers urging governments to take heed of rising discontent and economic insecurity in the advanced world.
Lagarde said that governments in the developed world should focus their attention on boosting support for low income workers and reducing inequality, amid a “groundswell of discontent” against globalisation. Effectively reiterating the McKinsey report, Lagarde said that there is "a growing sense among some citizens that they “lack control,” that the system is somehow against them", a system which she now slams, even though the IMF been instrumental in helping create and grow precisely this system ever since its inception, saying that “growing inequality in wealth, income, and opportunity in many countries has added to a groundswell of discontent, especially in the industrialized world.”
(Excerpt) Read more at zerohedge.com ...
.........we owe this flip flop on Christine’s part to Trump and Brexit....................
Indeed! She is a fine one to talk.
I predict that Greece will be the next to buck the oppressive EU system.
Now that their grip on global economy is showing cracks, they suddenly change the tune. Until recently, anybody against globalization is an ignorant retard with racist, and xenophobic tendencies.
However, I suspect that this is a lip service, and won't lead to any substantial change on their part.
EVERYBODY’S going “DEPLORABLE”!!! ;)
That “racism” and “xenophobia” is what used to be understood (properly) as “survival instinct.” They’re going to relearn all the old lessons the hard way.
You don't say...
By that time, enormous damage will have been done. Imagine how much suffering could have been spared if they have not done this for so long.
Mindless utopianism destroys the world. This is not confined to the left. There are utopians on our side, too. Civilization is usually set for the course of decline due to neglect, complacency, and corruption. We are finding out that it could also go down due to deliberate pre-meditated actions against itself from inside, accelerating the decline.
It’s an odd source. But globalization is the process for which the elite takes off the shackles of democracy. Like the Gene discarding his lamp, bureaucracies like to have growing control without the yoke of a master, the electorate.
When a country like the US or Briton gives up control to an unelected group such as the IMF or the EU or the UN, they are giving up democracy. And our politicians flit back and forth between these groups and government with no checks or balances.
As she backed away from the approaching mob, she was heard to say sheepishly, “But I ADORE Waylon Jennings.” before turning around and breaking into a run...
Globalization is all about cheap labor. With a free flow of illegals, corrupt businesses get workers who have no legal protections and who will work for below minimum wage. They win. Americans lose. This is not something that can be made into a positive for working Americans.
People do not have to be ‘illegals’ to participate in globalization. It is more about companies moving around than people illegally immigrating.
It is not just about manufacturing. It is also about companies using knowledge labor through the internet. For example many jobs can be done in India, China, Vietnam, Philippines ... and the ‘product’ (design, research, analysis, accounting, etc) is shipped over the internet to the employer.
Globalization means many people are competing globally for employment, whether they know it or not.
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