- deep social spending cuts;
- wage freezes or cuts;
- unrestricted free market access for western corporations;
- corporate-friendly tax cuts;
- tax increases for working households;
- trade unionism crushed or marginalized; and
- harsh repression against opposition to a system incompatible with social democracy, civil and human rights.
Kleptocrats are empowered. Bankers and other corporate predators strip mine countries of material wealth and resources. Crown jewels are sold off at fire sale prices. Poverty, unemployment, hunger and homelessness grow.
People lucky enough to have jobs become serfs. Debt peonage substitutes for freedom. A race to the bottom follows. Force-fed austerity is neo-Malthusaianism writ large.
Its holy trinity mandates no public sphere, unrestrained corporate empowerment, and abolition of social spending. It's the worst of all economic/financial worlds.
They're financialized into hollow shell dystopian backwaters.
Bravo, said The Times. After seeing its economy shrink 20% from peak levels, Latvia dead-cat bounced a smidgen. Its exports rose.
"We are here to celebrate," said IMF head Christine Lagarde. She's a world class scoundrel. She was Washington's top choice to run things. Her support for neoliberal harshness won her the job.
Her mandate is austerity harshness, mass impoverishment, neo-serfdom, and extracting wealth for giant banks and other financial favorites. Her background showed she's up to the challenge.
She held previous high-level financial, trade, and other government and business posts. She didn't disappoint. She's a walking conflict of interest.