Monday, Jan 28, 2008
IMF Chief calls for increased fiscal deficits to get through crisis!!!
FT: IMF head in shock fiscal warning
“This is the first time in 25 years that the IMF managing director has called for an increase in fiscal deficits and I regard this as a recognition of the gravity of the situation that we face,”
Posted by happyrenterz @ 01:12 PM (408 views) Add Comment
3 Comments
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1. hpwatcher said...
I don't like the way these people all seem to think lower interest rates is the answer to all of these problems.
Low interest rates created this mess in the first place; it's a bit like a blind man, getting blind drunk in order to see....
STOP IT NOW!!!
2. Mfarley said...
The IMF is saying that the answer to a problem caused by excessive debt is... more debt. It really is the only answer the authorities have. Very worrying.
3. it_is_going_with_a_bang said...
It's called running out of ideas.