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Imf Meeting Pledges To Revive Weak Housing Markets

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IMF official statement

http://www.imf.org/external/np/sec/pr/2011/pr11348.htm

This includes implementing the euro-area Leaders' decision of July 21 to increase the flexibility of the European Financial Stability Facility, maximizing its impact, and improve euro-area crisis management and governance. Advanced economies will ensure that banks have strong capital positions and access to adequate funding; maintain accommodative monetary policies as long as this is consistent with price stability, bearing in mind international spillovers; revive weak housing markets and repair household balance sheets; and undertake structural reforms to boost jobs and the medium-term growth potential of their economies.

Emerging market and developing economies, which have displayed remarkable stability and growth, are also key to an effective global response. The strategy is to adjust macro-economic policies, where needed, to rebuild policy buffers, contain overheating and enhance our resilience in the face of volatile capital flows. Surplus economies will continue to implement structural reforms to strengthen domestic demand, supported by continued efforts that achieve greater exchange rate flexibility, thereby contributing to global demand and the rebalancing of growth. Fostering inclusive growth and creating jobs are priorities for all of us.

In case you were in any doubt.

Edit: Link

Edited by Red Knight

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Advanced economies will ensure that banks have strong capital positions and access to adequate funding; maintain accommodative monetary policies as long as this is consistent with price stability, bearing in mind international spillovers; revive weak housing markets and repair household balance sheets; and undertake structural reforms to boost jobs and the medium-term growth potential of their economies.

If only they'd thought of doing that 4 years ago :lol::lol::lol::lol::lol::lol::lol::lol::lol:

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The global economy has entered a dangerous phase, calling for exceptional vigilance, coordination and readiness to take bold action from members and the IMF alike. We are encouraged by the determination of our euro-area colleagues to do what is needed to resolve the euro-area crisis. We welcome that the IMF stands ready to strongly support this effort as part of its global role.

****************

Today we agreed to act decisively to tackle the dangers confronting the global economy.

You always know you're dealing with bureaucratic munters when they use those sort of adjectives to describe themselves.

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I imagine the conversation over dinner went something like:-

Lagade: Right chaps I need to put out a statement, any thought? Jean Claude?

JCT: Well we need to mention the banks again, and of course controlling inflation

Lagarde: Ok, that's a good start...anyone else?

Timmy: I want to allude to our Chinese friends rebalancing......again.

Lagarde: Yes Timmy of course.......Osborne?

Osborne: {cough}......I've been told to ask to go for another housing boom.......people are getting twitchy

Lagarde: Excellent Osborne, that's always a good one. Great, I think we're there. More Petrus anyone?

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I imagine the conversation over dinner went something like:-

Lagade: Right chaps I need to put out a statement, any thought? Jean Claude?

JCT: Well we need to mention the banks again, and of course controlling inflation

Lagarde: Ok, that's a good start...anyone else?

Timmy: I want to allude to our Chinese friends rebalancing......again.

Lagarde: Yes Timmy of course.......Osborne?

Osborne: {cough}......I've been told to ask to go for another housing boom.......people are getting twitchy

Lagarde: Excellent Osborne, that's always a good one. Great, I think we're there. More Petrus anyone?

Them and their portfolios. The time for a proper kick off is rushing towards us ever faster.

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Maybe the really surprising thing is not that the system is collapsing but that it lasted this long in the first place- these people do not have clue what they are doing.

I think they know exactly what theyre doing. They are doing as they are ******ing told.

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they don't know what to do any more

I can see inflation getting out of control if they (which they will) respond madly

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they don't know what to do any more

I can see inflation getting out of control if they (which they will) respond madly

A bunch of headless chickens, running about all over the place - soon to drop dead.

F*cking MORONS. :angry: :angry:

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A bunch of headless chickens, running about all over the place - soon to drop dead.

F*cking MORONS. :angry: :angry:

The sooner the better. Time to put a stop to the damage their misguided interference is doing.

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I presume reviving weak housing markets means getting millions of construction workers out working to build more badly needed homes - i.e. investing for growth - rather than lending out even more money on the houses we already have which creates zero jobs. Or am I just naive!

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There's a simple test to apply to any possible course of action they may take- if it pushes more money in the direction of the banks it's highly likely to be implemented- whatever the impact it might have on everyone else.

There's something deeply comical about a situation in which the real economy is being trashed to support the dead weight of the parasitic finance sector that has grown up around it.

It's like that scene in the original Alien movie except in this case they pull the parasite off John Hurts face, shove him out the airlock and put the parasite on life support. :lol:

Not a f*cking clue.

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There's a simple test to apply to any possible course of action they may take- if it pushes more money in the direction of the banks it's highly likely to be implemented- whatever the impact it might have on everyone else.

There's something deeply comical about a situation in which the real economy is being trashed to support the dead weight of the parasitic finance sector that has grown up around it.

It's like that scene in the original Alien movie except in this case they pull the parasite off John Hurts face, shove him out the airlock and put the parasite on life support. :lol:

Not a f*cking clue.

Brilliant! :lol:

But sadly true.

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Selling piles of bricks to each other not arranging piles of bricks is the UKs main wealth generator. Building houses would of course create jobs in construction and many other industries (white goods, carpets, kitchens etc) but would depress the prices of existing stock and that would affect the banks. So the IMF want to retain existing price levels and sod the wider economy.

'Revive weak housing markets' is IMF code for revive bank balance sheets.

I'd wager they didn't mean 'provide more people with better quality, affordable homes'.

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It's like that scene in the original Alien movie except in this case they pull the parasite off John Hurts face, shove him out the airlock and put the parasite on life support. :lol:

Hehe. Sign of a great scene when you can apply it to life in general.

My favourite is when the coffins explode out of the ground in Poltergeist - "You moved the headstones, but you forgot about the bodies - didn't ya?!"

Anyway, the IMF has just written a christmas list. They must make sure it reaches Santa on time, but then all they have to do is wake up extra early and run down to find their presents under the tree.

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  • 338 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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