IMF sounds Great Depression warning

[mellie]

The IMF has told finance ministers of the world's Group of 20 nations the forces that caused the Great Depression in the 1930s are alive again.

Shadow treasurer Joe Hockey-stick is calling on the Reserve Bank to cut interest rates after the International Monetary Fund (IMF) advised Australia to delay its return to surplus.


But Mr Hockey has rebuffed the IMF's call for Australia to postpone a planned return to surplus in 2013.


"The government should not delay any surplus because the government is enjoying the best terms of trade in 140 years," he told reporters in Sydney.

"If you're not running surpluses when you have unemployment of 5.2 per cent, you're not doing the hard work."

Mr Hockey said the Reserve Bank should cut interest rates to stimulate the economy.

"When it comes to Australian politics and managing the Australian economy, it's quite clear there are a number of mechanisms available to stimulate the economy - one of them obviously an easing of cash rates by the Reserve Bank," he said.

The coalition's finance spokesman Andrew Robb said excessive government borrowing and wasteful spending was hurting confidence.

"Millions of Australian households and many businesses are not investing and are saving," he said.

Earlier, deputy opposition leader Julie Bishop said the IMF advice showed the need for the government to rethink its carbon tax.

"The warning from the IMF should be taken seriously," she told ABC radio on Wednesday.

"It's further evidence this is not the time for the government to introduce a carbon tax."

The federal government's top finance bureaucrat David Tune told a Senate estimates hearing on Tuesday that a return to a budget surplus in 2012/13 remains the government's current plan.

© 2011 AAP


http://news.smh.com.au/breaking-news-na ... 1m7bo.html

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http://www.imf.org/external/about.htm

The IMF globalist fascists who called for a single world currency?

http://www.telegraph.co.uk/finance/curr ... sq-content

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Lets make one thing clear...

Even Liberal has it's enslaved socialist kosher sniffing turncoats and self-serving economical alarmists.
You are not getting a republic or a new world currency/order, and we are not going to commit ourselves to foundational-experimental building of such by way of a go-it-alone carbon-tax to please either her Majesty and the UN...much less foreign investors.

Who was Oliver Cromwell?

Oliver Cromwell (25 April 1599 – 3 September 1658) was an English military and political leader who overthrew the English monarchy and temporarily turned England into a republican Commonwealth, and served as Lord Protector of England, Scotland, and Ireland.

Cromwell was one of the commanders of the New Model Army which defeated the royalists in the English Civil War. After the execution of King Charles I in 1649, Cromwell dominated the short-lived Commonwealth of England, conquered Ireland and Scotland, and ruled as Lord Protector from 1653 until his death in 1658.

It was Oliver Cromwell who orchestrated the Jews' return to Britain after he came to power, influenced by his rabbi mentor. Sound like anyone we know?

Take a look at this...

http://www.newworker.org/ncpcentral/republic.html

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Of the Liberals, Hockey, Turnbull and Julia Bishop are at the top of my TO WATCH list...all three being staunch republicans, and openly Zionist.


Yes, they are right when they say now would be a dangerous time to introduce a Carbon-tax, but it's clear, they have their own agenda.