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Roubini on Western Hypocrisy

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By Ben Cohen

It still astonishes me that barely anyone in the main stream press has picked up on the utter hypocrisy of the measures being taken to reverse the recession in the West. For years, the IMF and World Bank lectured developing nations on the need to deregulate and cut spending during an economic crisis, the complete inverse of what is happening over here. The first move by the Bush Administration/Obama Administration was to sharply increase government spending, then acknowledge the need for re-regulation.

Nouriel Roubini, the economist who predicted the economic catastrophe, calls it 'poetic justice'. I call it hypocritical bullshit.