America only one step away from recession — RT-1

(20 April, 2011)Russia Today. Global finance chiefs are warning that swift action is urgently needed to escape a new wave of economic crisis. And the annual spring gathering about the world economy produced a dreadful financial forecast. “We are one shock away from a full-blown crisis”, said Robert Zoellick, World Bank president. rt.com Critics say that by establishing the International Monetary Fund and World Bank, America has positioned itself as an economic doctor to the world using the institutions to retain global domination and fulfill the business interest of large corporations craving resources belonging to cash-strapped countries. “What they do is they very often pressure government to adopt what we call pro-cyclical policies. The economy’s weak and in recession, they want them to cut spending or raise taxes. And that can be very dangerous, I mean you can slip back into recession, you can make a recession worse,” Mark Weisbrot from the Center for Economic and Policy Research told RT. A tale that seems to be just too familiar to Latin America, the Middle East and most recently Greece, where tens of thousands storm the streets protesting against austerity measures, public spending cuts and tax hikes. As the largest financial contributor, Washington also wields the largest voting power at the IMF. “To be fair to the IMF, it is run primarily by the US treasury department and with some input from the European countries, and that tells you most of the problem. There …