NPR Hearts IMF

Over on the sidebar you'll notice that I list Dean Baker's "Beat the Press" under General Media Critics. If you've never taken a gander a Baker's work - let me recommend it - especially today. He has a real smackdown of NPR's pathetic attempt at giving props to the IMF this morning.

Baker's merciless dissection of NPR's disinformation hinges on two major problems (lies?) with the story. One is a lie of omission - and one of commission.

On omission, Baker points out that though the NPR piece claims that IMF money is going to developing countries,

"The piece never mentions the fact that the bulk of the IMF lending at present is going to East European countries, not the developing world."

As for the making-crap-up department, Baker notes that NPR

"referred to a 'global savings glut' which it attributes to developing countries' fears that the IMF won't have enough resources to bail them out in a crisis, and therefore their need to self-insure. WRONG!!!!!!"

As he points out the reason for countries' savings was so these countries would never have to borrow from the insidious IMF which has a track record for ruining the economies it "helps." But instead of reading about it here, head on over to Baker's blog - you won't be sorry.