Thursday, September 1, 2011

Christine Lagarde's Tough Message NYTimes, Monday's Labor Day Parade

From: jan27action-bounces@linuxbeach.net On Behalf Of Paul Krehbiel
Sent: Wednesday, August 31, 2011 4:07 PM
Subject: [Jan27action] Labor Day Parade Sept. 5

 

Friends,

 

US Labor Against the War/Los Angeles will have a contingent in the Labor Day Parade in the harbor area, Monday, September 5, and we invite you to join our contingent.  The theme of this year's Labor Day Parade is, "Stop the War on Workers."  Our US Labor Against the War contingent will be comprised of workers from many different unions, as well as workers without a union, and other supporters.  We will have a flatbed truck decorated with signs and balloons; some people will be able to ride on the truck.   We want to link the cost of the war with the attacks on workers and social programs, so we will have our own signs that read:  "End Wars = End Deficits," a banner with the same slogan, and another banner that reads:  "End the Wars and Save $19.3 Million per Hour."  We will also have leaflets to distribute.  Please join us, and wear your union T-shirts and hats if you have them.

 

Labor Day Parade

Monday, September 5, 2011

8:30 am

Broad and E Street

Wilmington, CA 90744

 

US Labor Against the War/Los Angeles

 

If you have questions, please contact me. 

 

Paul Krehbiel

paulkrehbiel@earthlink.net

For US Labor Against the War/Los Angeles

 

* * *

 

From: Michael Hathaway [mailto:mykhalis@gmail.com]
Sent: Wednesday, August 31, 2011 2:34 PM
Subject: Hooray for Lagarde: Christine Lagarde’s Tough Message NYTimes

She's an extremely impressive woman, I think, articulate and with presence, from the two times I'd seen her on Zakaria's GPS. But I couldn't predict where she'd come down on these many important issues, and am so glad to know now. M

New York Times

The Opinion Pages

Editorial

Christine Lagarde’s Tough Message

Published: August 30, 2011

Less than two months after being chosen to lead the International Monetary Fund, Christine Lagarde shook up last weekend’s conference of central bankers in Jackson Hole, Wyo., with an urgent, much needed plea for bolder economic policies in the United States and Europe to head off a looming double-dip recession.

Related

·         I.M.F. Chief Chastises Policymakers (August 28, 2011)

When Ms. Lagarde, then France’s finance minister, was campaigning to become the fund’s managing director, it was uncertain whether she could look beyond the politicians’ obsession with austerity that has repeatedly defeated efforts to contain Europe’s worsening debt crisis and continues to stymie effective policy making on both sides of the Atlantic.

Now free to speak her mind, her blunt remarks and prescriptions were just what the central bankers needed to hear. She rightly called for: rebalancing global trade by stimulating demand in developing countries with big export surpluses; more aggressive mortgage relief in the United States; and giving job creation priority over deficit reduction in the United States and Europe.

She also called for substantial injections of public and private capital into dangerously frail European banks. And while citing the necessity for long-term deficit reduction, she made clear that near-term policies must give priority to generating jobs, stimulating demand and renewing economic growth.

For Europe, specifically, Ms. Lagarde prescribed more financing for debt bailout plans, a concerted effort to strengthen vulnerable banks and, most importantly, a common political vision about the euro’s long-term future that has been grievously lacking.

For the United States, she called for new efforts to resuscitate consumer demand by attacking long-term unemployment and mortgage foreclosures. She suggested “aggressive principal reduction programs for homeowners,” in addition to the kind of refinancing programs the Obama administration is now considering.

American political leaders haven’t taken much notice of her speech. European financial officials have been sputtering ever since. Ms. Lagarde cannot make any of these things happen by herself. If she keeps pushing hard, the politicians may finally wake up.

A version of this editorial appeared in print on August 31, 2011, on page A26 of the New York edition with the headline: Christine Lagarde’s Tough Message: The I.M.F. leader tells the truth about the damage done by austerity policies.

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