Daniel’s Reviews > The New Confessions of an Economic Hit Man: How America really took over the world > Status Update

Interesting book, solid 3.5/5 if it weren't for the last 15 chapters. Felt like an IV drip, lacking substance. Its like my phone at 1% smh. But I do recommend the older version of this book. I thoroughly enjoyed the Panama chapters.

It’s sobering to see how nations and people are pushed into self-destructive choices, with little hope for change.

One day we will reach a righteous world. I sincerely believe that.

Democracy is a farce when voters are intentionally deceived.

The majority of formally untied aid contracts from bilateral agencies also go to donor country firms. 2/3 are awarded to firms form OECD countries, and 60% "in country", to firms from the donor country that funds a project.

Oxfam research 2015: There is no public information about where 94% of the IFC's "high risk" intermediary investments have actually ended up.

Research from 2011: of the $69 billion of "tied aid" annually, more than 50% of total official development assistance is spent on procuring goods and services for development projects from external providers. "Tying aid" to the condition that all purchases are made from firms from donor countries is the least effect form of procurement. Turns into a boomerang aid.

The International Policy Centre for Inclusive Growth: The conditionalities of the IMF are paternalistic. They are meant to alter behaviour and induce changes in economic, political and social structures. They also serve as a sort of collateral; in some cases they are a form of coercion to ensure adoption of otherwise unpalatable reforms.

The evidence (Global Justice Now) suggests that the past 20 years of IMF and World Bank intervention have exacerbated rather than ameliorated Zambia's debt crisis. Ironically, in return for debt relief, Zambia is required to more of the same. A positive feedback loop.

Elliot Associates, a hedge fund, purchased around $20 million of the defaulted Peruvian loans for about $11 million and then sued the country and its central bank for the original amount plus interest, in a New York court. Elliot won a $58 million settlement. This windfall profit came at a huge cost to environmental and social programs in Peru.

The Safe and Accurate Food Labeling Act of 2015 was intended to block states from requiring the labeling of products containing GMOs. The Grocery Manufacturers Association and Monsanto poured millions of dollars into making this bill happen. Passage of this bill is an attempt by Monsanto to crush the democratic decision making of tens of millions of Americans. The voice of the people has been ignored.

A garment factory in Bangladesh collapsed in 2013, killing more than 1,100 people. The law firm, DLA Piper, of Senate majority leader Daschle fought the implementations of a Bangladesh plan for legally binding safety reforms and aimed at protecting low-income workers.

Those in the middle class who have the material trappings of prosperity, are complacent because they possess the things they were taught to covet, and they don't want to lose them. Those who live in poverty are complacent because they have to devote their energies toward simply surviving.