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IMF To Assist The U.S. IN Putting Its Fiscal House In Order

Updated on April 16, 2011

IMF To Assist The U.S. In Putting Its Fiscal House In Order

I seldom opine on the issues of Economics because a man should know his limitations and understanding the vagaries of Economics are mine. So you ask why the sudden bravery Verily Prime? Well, I was watching the financial channel (CNBC) and, apparently, the boys at the International Monetary Fund (I.M.F.) are saying that if we do not get our fiscal house in order, that, soon they will have to come in and bail us out. The problem with the IMF bailing us out would be akin to a bankruptcy court dictating which debtors get paid and, moreover, providing the budget on how we should take care of obligations. Imagine being told what to prioritize and what do not merit our spending? This is the Misery Index situation we have placed ourselves in fiscally and having a socialistic organization like the IMF, which, ironically, currently receives most of its funding from America, dictate our fiscal endeavors.

The I.M.F. dictating to us is too much for me to fathom and I supposed that is why it made for a good discussion and fodder for the financial pundits, among them, Jim Cramer. The IMF telling us about our fiscal house is like when Libya was one of the member states on the United Nations’ committee for Human Rights - again, did I mention that we provide most of the funds that grease the wheels of the I.M.F’s bureaucracy? The situation is similar to those prisoners in Gitmo, who bitch about their treatment, but start balling, via their U.S. paid mouthpieces, begging not to go back to their native countries. In that same vein, perhaps, it is time to cut the funding temporarily for the I.M.F. and the United Nations, until we get back on good fiscal footing. The tail is really wagging the dog and once again, the powers that are must be laughing at our utter ineptitude.

I am of the humble opinion that if there came a time when the I.M.F. had to come in and dictate to us, Jesus forbids, then the world is already beyond repair. The money pundits on CNBC disagreed with me by schooling me on the fact that the Chinese, Indians, and Germans would provide the bailout money – essentially, it would be an official passing of the Economic torch to those three countries with probably China being the Alpha dog. If these three countries now have the financial means to bail out the United States, then maybe they should take on the burdens of funding the I.M.F. and the U.N. While I am on the subject, we pay Germany annually hundred of millions to have our troops station there since the 40s - it is now time to bring the troops back home to save money. I hope the next time I research the respective funding for the I.M.F. and the U.N. that China, India, and Germany will be paying the bulk of the upkeep for those ungrateful organizations.




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