Comments by "" (@craigkdillon) on "2020 Forecast: Americas" video.

Is this an IMF commercial?? You seem to thing the IMF is some wonderful agency that never makes mistakes. YOU ARE WRONG, imo. The IMF operates using Supply Side economics, which sees economies through a very narrow lens. Keynes and Galbraith had a broader and more complete understanding of economics. The IMF does NOT consider the social costs of their policies. In the end, the IMF only considers getting its money. It does not consider the stimulus effect of tax cuts, or the stimulus of distributing money to poor people. [Poor people spend 100% of what they get, stimulating the economy. Rich people getting the same amount, just park it, and remove it from the economy.]
3
Unfortunately, in South America, they have an ignorant understanding of economics, business, and how to fund social services. IMO, this comes from European socialism. Although Progressivism appears similar to Socialism, it differs in one very crucial area -- ===> Progressivism was started by small businessmen in the Republican Party. Therefore, Progressives tend to be fiscally conservative. That is why in the US, Social Security and Medicare have been so financially successful. Currently, growth of Progressivism (which I am, btw) has brought the debate of how expanded health care will be paid for. I am for it, but it must be done in a way that is affordable AND sustainable. In the long run, nations, like families, can only buy what they can afford. First, a country should strengthen and expand its economy, expanding its middle class. Then, and only then, can significant monies be spent on social services. A big mistake is made, I think, when poor countries try to behave like a European country with a mature economy, and then overspend on social services. Even in Europe, they seem to be having that problem in Greece and maybe Spain. That needs to be avoided. It could lead to a collapse of the economy, and the collapse of governing institutions.
2
About the IMF -- IMO it is very irresponsible and wrong headed. Supply Side Economics of Milton Friedman has been disastrous every where it has been used. It ignores the beneficial effect of public spending to ensure people's lives. I think the economics of Keynes and Galbraith are much better for developing fiscal policy. BUT, the IMF represents banks, not governments. The IMF has no interest in people's lives, health, or future. The IMF does not care if governments collapse, or if there is social revolution. The IMF only cares about getting its payments --- even though it often sets requirements that lead to social and economic collapse.
1