Member-only story
Who’s warning us about the World Bank?
NOBODY in a position of authority sprung into action earlier this month when the IPCC issued its “final warning” for the Earth’s climate and our so-called “civilization.” (Even THAT report — as dire as it is — was watered down by corporate interests prior to being released.) Now, the World Bank has issued its own warning. According to the New York Times (World Bank Warns of Lost Decade, March 28, 2023, page B1), the World Bank report warns that, due to the twin crises of COVID and the Ukraine war, we are heading for a decade of slower growth.
Oh, the horror!
The World Bank is focused on fighting poverty, encouraging development and — nowadays — protecting the environment. But in reality, it is an organization of bankers focused on keeping the world banker-friendly. The loans they make to fight poverty actually promote poverty. In case after case, to pay back these loans, the governments of the recipient countries are forced into policies of “austerity.” In case you aren’t familiar with the euphemisms, “austerity” is banker-speak for “poverty.” The lovely thing about this strategy is that the bankers can shift blame to the recipient nations, claiming that the recipients are fiscally irresponsible.
What a beautiful scam! (Here’s just a sample citation of World Bank tactics. And another.)
