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Samizdata, derived from Samizdat /n. - a system of clandestine publication of banned literature in the USSR [Russ.,= self-publishing house]

Onion 1, IMF 0

The Onion does not always crack me up like it used to, possibly because it grows more and more difficult to effectively satirize an increasingly bizarre world. But this piece, Housemates Reject Third-Roommate Debt-Relief Plan, is just devastating. They manage to sneak in a reference to virtually every conceivable critique of the IMF, from both the left and the right, from moral hazard to environmental degradation. They even address the topic of “conditional” loans whose conditions have nothing to do with improving debtworthiness or economic performance:

Although the donor roommates supplied additional aid in the months that followed, the AMF placed strict conditions on the loans. These conditions were designed to accomplish three goals: to prevent corruption and misuse of funds, to ensure that the monies were spent wisely, and to reduce third-roommate economic isolationism, integrating the debtor’s personal economy more fully into the interdependent apartmental community.

“We only asked for three things, man,” Huygens said regarding the structure of the loan. “First, that Chad quit partying so much. Second, that he open a checking account so he can budget his cash. And third, that he bring his kickass stereo system out of his bedroom and into the living room where we can all enjoy it. It was only fair.”

The only way this could have been improved upon might have been to lampoon the “debt for nature” swap; Chad’s debt might be forgiven in exchange for certain herbal products, for example.

Well done, gentlemen. More like this, please.

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7 comments to Onion 1, IMF 0