IMF solution to depression – more of the same

“Worse, the IMF reckoned that the world economy would remain in a very weak recovery and never recover the losses from the Great Recession unless action was taken by governments.” The Australian government’s actions will do pretty well what the IMF is proposing: amounting to a tsunami-like assault on the Australian working class with spill over effects to aid programs that provide some sort of support to the most impoverished and vulnerable in some other countries. To my knowledge there has been no comparable analysis of what happened in Sydney at the G20 under Joe Hockey’s chairing.