Category Archives: imperialism

New Adam Curtis: Bitter Lake

I have got hold of the unedited rushes of almost everything the BBC has ever shot in Afghanistan. It is thousands of hours – some of it is very dull, but large parts of it are extraordinary. Shots that record amazing moments, but also others that are touching, funny and sometimes very odd.

These complicated, fragmentary and emotional images evoke the chaos of real experience. And out of them i have tried to build a different and more emotional way of depicting what really happened in Afghanistan.

On the Ukraine “Bailout”

O.K., $17 billion from the IMF, once the government savages its budget. Against this, Kiev has payments of $10 billion in debt service alone due this year—that is interest, not principal. With principal, Bloomberg puts the figure at $14 billion, and an additional $10 billion is due next year. It is not clear it can cover these payments even with the IMF funds.

Do you see what is going on here? The IMF’s bailout is not marked for Ukrainian social services or any other benefit to the citizenry. All that is about to be taken away, in the neoliberal style. The bailout money goes to Kiev and back out again to the Western financial institutions holding Ukrainian debt. In effect, debt held by private-sector creditors is transferred to the IMF, which uses it to leverage Ukraine into a free-market model via its standard conditionality: No austerity, no dough.

Distortions, lies and omissions: The New York Times won’t tell you the real story behind Ukraine, Russian economic collapse by Patrick L. Smith.

Useful, terrifying context to George Soros’ recent war-drum beating.