Word: establishmentism
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Of course, they could not have done so without the consent of the man most responsible for the mess, Boris Yeltsin. As the economy crumbled around him, the physically and politically ailing President was more isolated than ever, humiliated and dismissed as irrelevant. Former supporters abandoned him, and some in...
Malaysian prime minister Mahathir Muhammed blames it all on the Jews. The rich Western economies. The foreign currency speculators. And of course on George Soros, a rich Western Jewish foreign currency speculator whom Mahathir calls a "criminal" and "a moron." Mahathir believes the IMF, far from wishing the current crop...
Mahathir's plan, of course, baldly flouts all the IMF's ?- and nearly everyone else?s -- current wisdom on saving Asia. According to their formula, a package of stopgap loans and high internal interest rates can protect the currency and attract foreign capital in the short term by restoring investor...
If the devaluation and debt moratorium flop, the result is likely to be not only another financial panic, but also a discredited political establishment. Russia's leaders have proclaimed too often that they have found the way to lead the country out of its penury--only to falter. In this...
If your guest has egg on his face, what's the polite thing to do? Splash some on your own -- which may be Boris Yeltsin's thinking as he awaits President Clinton's September 1 visit. Russia's leader returned to his month-long vacation Tuesday, while his country reeled...