Free Republic

IMF paper warns of 'savings tax' and mass write-offs as West's debt hits 200-year high ... Debt burdens in developed nations have become extreme by any historical measure and will require a wave of haircuts, warns IMF paper. The paper said policy elites in the West are still clinging to the illusion that rich countries can chip away at their debts with a blend of austerity cuts and growth. – UK Telegraph Dominant Social Theme: The West is out of control and only taxes can save it. Free-Market Analysis: The UK Telegraph has discovered that the IMF wants to inflict...