ustxtxb_obs_2002_10_11_50_00032-00000_000.pdf

owls erne ao iege pew* de Ito Sam e abandon projetos de transterincia de tearvakot e geracao de ernmepos t come o M5Etr, pioposto cato wpm eaca da FAIL entreat:arum es EUA ea sobre a Aka.. tames sabre as trapaltiodas de Bush e os InParatifos Oro ink toutra traque Cover of the August 21, 2002 issue of Istoe E, Brazil’s leading newsmagazine its accounting for expenditures. Quite simply, the IMF allows Mr. DePaiva of the Finance Ministry to shift about 30 percent of the government’s liabilities off the books.While Brazil will appear to be running a surplus in 2003, it will actually continue to operate with a whopping deficit, and sooner rather than later, the government will be bankrupt. In the end, of course, it will not be Lula, Marxism, or socialism that brings the capitalist system crashing down in Brazil. It will be the big fat Bankers themselves. By insisting that the fiscal crisis is the result of a costly public sector which must therefore be cut to the bone \(with the resulting savings remitted to the IMF, Mr. Morgan, and ment and income, just as they did in Argentina. Because of the IMF and the greed of its beneficiaries, there’s no decent work, so there’s no money, no demand, and no tax revenue. For Brazil to recover, capital has to be pumped into the economy and not sucked out. This is not Lenin; it’s basic Keynes. Remember John Maynard! It’s basic Alan Greenspan, for God’s sake. In case of recession, stimulate the economy, prime the pump. In Brazil, nobody is really expecting democratic socialism or the workers’ paradise, Lula or no Lula. But a small dose of John Maynard might still help. Gabriela Bocagrande is a writer in Washington, D. C. 32 THE TEXAS OBSERVER 10/11//02