The IMF bitching at Yingluck: Pouring oil onto a hot Thai political scene

International Monetary Fund, World Bank meetin...

International Monetary Fund, World Bank meeting 2010 (Photo credit: scottmontreal)

Thai politics is hot and the IMF is making it hotter. With massive protest to topple the Yingluck government, this is the worse time, for anyone to be make it more out of control. But for whatever reason, the IMF just came out with a host of recommendations to Thailand, including criticizing the Yingluck’s government management of the economy, particularly, the Yingluck’s highly controversial rice support scheme.

So why has the IMF picked this fragile time in Thai politics to criticized Thailand? Is it playing politics? Has it taken a side?

It is quite interesting, that globally, the result of the financial crisis, is that the rich got richer and the poor got poorer. And yet the IMF, continue to treat people, as collateral damage, acceptable cost on the road back to prosperity, that as always, the rich will continue to get rich and the poor suffer the most. Basically, the IMF have always say, screw the people, for the overall good and benefit.

But what about when there is no economic hardship the likes of USA or Eurozone, like in Thailand? Does the IMF still go around telling governments to screw the people?

Well, the latest from the IMF, is that it has told the Thai government that it should scrap its rice subsidy scheme, and give a straight hand-out where a straight hand-out, is basically prohibited by several units and body and can not be done. And a straight hand-out in Thailand, would be opposed massively, as just an indirect hand-out, is already greatly opposed.

The IMF says the rice subsidy, put at risk Thailand’s sound finances as meeting a balance budget, some 5 years down the road. So basically, the IMF is saying, “Screw the Thai rice farmers.” There may be many economic theory why the rice subsidy should be scraped, but as Thailand’s Finance Minister says, the rice subsidy scheme, is not just about better lives for farmers, mostly poor and exploited for decades, but the rice subsidy scheme, is also an economic stimulus, adding about 3 to 5 times, of money multiplier effect, onto the Thai economy. It does not take Einstein to see, that the rice scheme, as a program, total and whole impact on the Thai economy, is a positive gain. But what is interesting, is that as the IMF tells the Thai government to screw the farmers, the IMF, of course, is saying nothing about the USA and Eurozone Farm Subsidy. Here is a fact that the IMF is running away from, the USA has 2 million farmers and its Farm Subsidy is about US$20 to 30 billion. And Eurozone Farm Subsidy? Are you kidding me?

In fact, the IMF is such a chicken shit, not dares to tell Eurozone and USA to cut their Farm Subsidy, as it plays big shot with Thailand. The IMF would probably have to eat so much shit from the people of those two areas, if it brings up Farm Subsidy there.

But Thailand is a little country and of course, IMF thinks it is some thing of a big shot to little countries. And to come out with this when Thai politics is a mess? Well, who ever said the IMF does not play politics. What a typical “Imperialist” attitude, by the big brother of the globe.



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