1. The Washington Consensus has much less to do with domestic Western politics than almost universally assumed. The WC was a broadly used set of ‘conditionalities’ the IMF and World Bank demanded of deeply indebted developing countries
2. There is little overlap between 80-90’s WC and post-2007 ‘austerity’ experienced in the West other than govt services and safety nets often getting cut to the bone. The role of debt, taxes, and the agency of the govt’s in the two contexts couldn’t be more different, though.
3. Highly indebted developing countries were coming to the IMF and World Bank for debt relief and/or refinancing with new debt. The debt itself was largely re-re-financed loans dating back to 70’s Oil Crisis via the creation of OPEC.
4. Flush with ungodly amounts of USD after forming their cartel to set the intl price of oil, OPEC states handed their ungodly sums of newfound cash to Wall Street banks to figure out what to do with it.
5. The gist of this only slightly exaggerated first hand account about development loans this period of economic history is that the lenders knew, at the time (70’s and 90’s). That these loans were going into non-viable projects that would never get a RoI.
Intermission [picking daughter up at school]
6. So the re-refinanced old OPEC-fueled debt is mounting up along with debt from loans for more sound development projects. By the 90’s Bretton Woods Institutes (WB, IMF, etc) are either holding a lot of this debt or being asked for new loans to keep govt’s solvent at all
7. So the Washington Consensus was a brutalist program of ‘conditionalities’ that these countries would need to meet to get any further financing.

- raise taxes
- cut spending
- privatize almost everything
- deregulate to attract private capital investment
8. The Washington Consensus was a mixture of coerced common sense econ reforms to get debtor states to stop bleeding money on dumb things, heartless and counterproductive cuts to ed/health and social safety nets, and powerful gangsters shaking down a shop clerk for loose change.
9. Which is why this is a pretty odd hot take. In the Discourse™ treats ‘neoliberalism’ and the Washington Consensus as almost interchangeable. With the latter, though, raising govt revenue in a smart way to reach fiscal solvency was very much part of the project.
10. McConnell and Paul Ryan aren’t ‘neoliberals.’ They’re ideologues, but latter was taken as a ‘serious thinker’ about econ and govt revenue/spending when all he cared about was tax cuts and cutting non-mil gov spending down to the bone b/c they hate tax and govt services.

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More from @Comparativist

16 Oct
My knee-jerk assumption was that this was more-or-less an EJK assassination b/c Trump’s tweets, then believed the first version of story that Reinoehl fired first. Now I think burden of proof is on the @USMarshalsHQ to prove this wasn’t an assassination.
Reinoehl walks from his friend’s apartment to his car, as soon as he’s inside two @USMarshalsHQ vans full of swat teams parked nearby speed up right next to his vehicle. They begin their shooting when he reaches for center council.

He exits his car wounded. They follow.
He makes it this far. A Marshall from a third waiting van shoot him again with a hail of bullets when one he say he reaches for a bag (where no gun was found). Another said it was his pocked (where a handgun was later found). Other Marshalls join in at shooting the wounded man,
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They could have just turned the tracker off, not nope. It's all there.

A GFS Bombardier took off at 4:30am, flew straight to Nine Pins Island group, orbited for hours, then circled something that matches all accounts of #save12hkyouth escape attempt.

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In languages like how languages like Tagalog just use the English word for basically anything invented after the 19th Century.

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Pinoy: “It’s a microwave...”
Me, points: “And this?
Pinoy: “You’re pointing at a tire.”
Did they coin ‘vulcanist’ for anyone who works with a blowtorch?
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Price is Right rules: go!
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Just lay an underwater cable.
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Crew it 5:1 with Dept of Energy contracters.
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