A New Bretton Woods Moment
The IMF has a new goal: a ‘Sisterhood and Brotherhood of Humanity’ to save the world.
At the conclusion of the conference John Maynard Keynes captured the significance of international cooperation as hope for the world. “If we can continue…The brotherhood of man will have become more than a phrase”, he said.
The work of the IMF is testament to the values of cooperation and solidarity on which a sisterhood and brotherhood of humanity is built.
Key Ideas of IMF Managing Director
- Today we face a new Bretton Woods “moment. ”We should move towards greater debt transparency and enhanced creditor coordination.
- And policies must be for people —my second imperative.
- Rising inequality and rapid technological change demand strong education and training systems—to increase opportunity and reduce disparities.
- Accelerating gender equality can be a global game-changer. For the most unequal countries, closing the gender gap could increase GDP by an average of 35 percent.
- We can no longer afford to ignore climate change—my third imperative.
- Our research shows that, with the right mix of green investment and higher carbon prices, we can steer toward zero emissions by 2050 and help create millions of new jobs.
Alternate Idea
The current strategies have done nothing but promote wage and income inequality.
The middle class is shrinking and housing is less and less affordable despited interest rates manipulated lower.
These trends accelerated with Nixon ended convertibility of the dollar.
We do not need another “Bretton Woods”. Nor do we need a useless “I favor mom, apple pie, global peace, and sisterhood equality” speech.
We need sound monetary ideas, free trade, the end of fiat currencies, and an end fraudulent fractional reserve lending.
Mish
“The IMF has a new goal: a ‘Sisterhood and Brotherhood of Humanity’ to save the world.”
The IMF has a new scam. Nobody is going to save the world, especially the bankers.
IMF – yet another tool to control the unwashed through pseudo intellectual drivel.
That Keynes picture should remind everyone that a sound idea can be corrupted when not based on realities of human nature.
The elected representatives of the people can never tell good times from bad, and just spend like drunken sailors, and IMF is ready to provide ideological backing.
If only the world could have been run by the betters…
So glad the smart folks over at the IMF have figure out how to make negative interest rates work.
Where is my pitchfork?
Get a rope.
How do they get away with writing such rubbish.
“How do they get away with writing such rubbish.”
“You can fool all of the people some of the time.”
Another bunch of idiots who think we can fight nature with policy changes.
Guess when looking into gender equally you need to factor in where the sats come from etc. there is a cost to taking time out to have and raise kids. That tends to put a kink in your career path. Limiting how high of a position you can attain. Not just for women either. Anyone who takes a couple yrs off puts limits on time available for work etc is gonna suffer career wise to some degree or the other. For whatever reason.
This is hogwash. While I agree with Mish’s post, the IMF is posturing here, the argument about children has been proven false over and over. It also promotes an anti-natalist view – after all, having kids is benefitting all of society and probably should be compensated. My kids will pay your pension. Regardless, it’s factually incorrect. Look at starting salaries for female vs. male programmers. None of these people are having kids in their 20s, yet women are routinely paid 50% of what men are paid. It’s cultural and it’s a choice. I remember being 20-something programmer, asking for a raise that would match cost of living in CA, and being told, “Why don’t you just get married? You’d have access to more capital.”
I agree with you issues need to be addresses. My point was when you take yourself out if the labor force for any reason. No matter what gender. It puts you behind on your career. Your a programmer. Do you think you could take five years off then go back to work at the same level and pickup where you left off. Or would you need more education. What promotions did you miss out on in that five yrs. not trying to start a fight. I believe in equal pay for equal work and with the need for dual income parenting. Im for programs to be put in place.
Granting more power and authority to highly-centralized, unaccountable and easily corrupted “institutions” is not the answer.
Quite the opposite, in fact.
Mish, care to comment on ne EU SURE Bonds?
What a weird world we have entered.
Very interesting….thanks for posting.
Like always, it’s a band aid to fix an emergency that will morph into a permanent monster, like the closing of the gold window.
Graft will blossom more than ever.
Mutual debt means, the next country trying to escape the lunatic asylum will have to face more obstacles than UK, and maybe that’s the plan.
Global economic forum playbook . Topic for topic
Great Reset
And couching anything in equality / gender inequality makes it politically correct to go against even if said policies are brain dead , most folks critical thinking will stop w equality is good , let’s do this .
Politically *incorrect
Agree.
“Greater debt transparency and enhanced creditor coordination”
So….what does that even mean? My guess, it means nothing….it just sounds good.
“Rising inequality and rapid technological change demand strong education and training systems—to increase opportunity and reduce disparities.”
Sounds a lot like mandatory diversity training is on the way for the IMF. He’s decided they need to take the knee and confront their racism and their white fragility.
Gender equality….I’m guessing they don’t mean just for bankers…..some sort of monetary initiative to level the playing field? More social engineering. What could possibly go wrong?
Green investment?
More initiatives…..let’s promote more debt for renewables….
I ask myself, “WTF do bankers know about renewables and EROEI?”
Nothing.
Gender equality is controversial? I don’t get it. Why is this upsetting?
Forgive me but this post comes off as a rant
I don’t think gender equality is achieved by economic means.
Rather, economic equality can be achieved by social equality.
Cart before the horse problem
I know one thing , women receiving equal pay for equal work or getting access to the same jobs as men such as being doctors, lawyers, engineers or construction workers hasn’t promoted inequality.
If someone came out and pointed to where women are less equal in the world it would be a start to progress. Guess where? What regions? What religions do they live under? 3 guesses.
What about the Catholic Church too?
Call it all out.
Money isn’t the be all and end all of gender equality.
First admit the problem, like a recovering addict.
Its endemic in some regimes, no matter where money goes.
This trend towards social issues by corporations and away from the early 1980s Business Roundtable priority that the stockholder is #1 and corporations only have a duty to the stockholder (the Milton Friedman position) is well known. In fact the Business Roundtable in the USA recently adopted a position that stakeholders are also important. Move along, nothing to see here.
what if the stockholders want the company to promote equality?
genders are NOT equal, in fact they are completely opposite -that’s the whole point of them.