Impossible Mission Force

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In the land of film and television fiction, the IMF is the Impossible Mission Force.  Depending on your age, you will automatically think of either Tom Cruise or Peter Graves playing the lead character of Ethan Hunt (Cruise) or Jim Phelps (Graves).

Mr Hunt’s (Graves’) mission, if he chooses to accept it was usually some impossible mission (hence the name) that usually involve some form of deception.

In the land of economic and financial policy fiction, howeverm the IMF is the International Monetary Fund, housed in Paris and lead by a French woman offering economic advice one would expect from an organisation based in Paris France.

Late last month, the IMF Board (the Paris one not the film one) concluded its:

2018 Article IV Consultation with Australia.

This is a process whereby Australian Commonwealth Treasury technocrats (including previously Dr Martin Parkinson — Dr Ken Henry worked down the road at the OECD), describe the economic thinking of the Commonwealth Treasury to the economic oracles of Paris.

In the IMF report of this consultation, here is a key sentence from the IMF’s assessment.  The highlight belongs to TAFKAS:

(IMF) Directors encouraged the authorities to exercise prudence in approving permanent tax cuts or expenditure increases.

Firstly, note the recommendation to the “authorities”, as in the Treasury officials.  It seems a foreign concept to the Europeans that it is actually an elected government and not some cabal of faceless and unaccountable bureaucrats that determines national fiscal policy.  But then they recommend exercising prudence in approving permanent tax cuts or expenditure increases.

This is basically Euro-Bureau-Speak for keep those taxes high.  If you don’t, we high tax Europeans may be forced to cut our taxes.

Australia’s mission, as recommended by the IMF, should we choose to accept it will lead to higher taxes and higher government spending.  And if we accept it, our economy rather than the advice of the IMF will self destruct in 5 seconds.

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12 Responses to Impossible Mission Force

  1. stackja

    Dan Briggs before Phelps.

  2. Bruce

    Peter Graves also reprised the 60’s / 70’s role in the two series shot in Australia un 1988-89 and then Victoria 89-90.

    Phil Morris, son of Greg Morris, played the same role his dad had.

    I worked on the 19 episodes shot in Quensland; lots of fun trying to make bits of South East Quensland look like London, Florida, Istanbul, Paris, Berlin, Prague, etc.

  3. Rusty of Qld

    Remember Peter Graves in Whiplash?

  4. Dr Faustus

    (IMF) Directors encouraged the authorities to exercise prudence in approving permanent tax cuts or expenditure increases.

    Half of this prescription is a given, the other a complete fantasy.

  5. Jock

    I take umbrage at Figuares and her cabal giving us advice. She is a lawyer and previously a minister (and somebodies lover) of that semi failed state france. Last I looked France had a debt/GDP of near 100%. Its bureacracy is one of the biggest in the world per capita. Its tax levels are over 50% of GDP. One can ask what do the french get for their money?

  6. Dr Fred Lenin

    Bureaucrats just read what the UK will habe to do in the next four years if Brexit is not completed no deal or not . The communists in Brussels will reduce every country in Europe to being a province of the aparat with less rights tham]n our states ,even our local government will have more power than Westminster seems the comrades want to make all Europeans into their slaves ,thats why they want all those illegals to stop the counter revolution . Vive les Gilets Jaunes .

  7. To these people, governments of sovereign states are merely an irritant.

  8. Tezza

    The IMF is not based in Paris; it is based in Washington DC. Such a rudimentary factual error (which betrays ignorance of Bretton Woods history and how it is that the French usually provide the MD of the IMF) is then compounded by the mis-located cheap shot at the French, Parkinson and Henry. Then there is the stretch to interpret standard international bureaucrats’ use of ‘authorities’ as meaning ‘Treasury officials’ rather than ‘responsible Ministers’.
    All in all, a piss-poor effort. Whoever is responsible for Catallaxy quality control ought lift their game. They could start by banning stupid nom de plumes like ‘the artist formerly known as Spartacus’.

  9. David Brewer

    The IMF is in Washington, facing the World Bank across 19th St, not in Paris.

  10. John A

    Rusty of Qld #2947595, posted on March 1, 2019, at 4:40 pm

    Remember Peter Graves in Whiplash?

    Was that the series where he was Freeman Cobb trying to establish the Cobb & Co stagecoach franchise in the Australian bush?

  11. Rusty of Qld

    John A,
    I can’t recall the exact story line of the show, based around the gold rush at Ballarat in 1851.
    There was also the show Rush set in the same era, with a good piss take done of it with the dubbing of a ridiculous dialogue on the characters, bloody funny.

  12. Rusty of Qld

    John A,
    Your right it was set around Freeman Cobb establishing his coach business in NSW. Found a few bits of it on Youtube. Rush was set in Ballarat.

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