IMF head in shock fiscal warning

IMF head in shock fiscal warning

www.ft.com

The intensifying credit crunch is so severe that lower interest rates alone will not be enough “to get out of the turmoil we are in”, Dominique Strauss-Kahn, the managing director of the International Monetary Fund, warned at the weekend.

(visit the link for the full news article)



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Further proof that an economic stimulus package/rate cuts are not the way out. WE ARE TOO FAR GONE FOR THIS IDEA TO WORK!!! Why can opur leaders not get this through their heads. Oh yeah, because they are only puppets on the strings of the elite. Sorry, I forgot.

www.ft.com
(visit the link for the full news article)

ahhh man...

Sorry about this.. But I am going to rant again...


Well considering I have no loans, no nothing.. Cause I buy things straight out, if I cant afford it I wont buy it.. Anyway......


This is what you people get, trust in something that is only there to screw you later is what you get.. Screwed. You guys wanna put trust in nonexistant money.. Hey its your fault. Now the rest of us who didnt follow this scam have to pay for your stupidity.

Hey next time they have a sell on land in the sky, you can buy from me. I have a crap load of it.. really.

Next up... Oddles of Noodles buy 1 for 3 bucks and get the 2nd half off.

what really worries me here is the lack of intelligence some of the very senior figures in world finance have.

It just seems we are talking ourselves in to recession if all we hear is doom and glum.

Lets take for example the situation of SOCGEN, the French bank that had a rogue trader expose it for $7bn on the markets. The trader had exposed to bank to $140bn but with action and intelligence, the hit to the bank was only $7bn. Plus a hit for their exposure to the sub-prime crisis.

I do hear the senior financial figures in Europe scaring us with doom and glum. They, to me at least seem to be gettin on with the job of protection our economics and working with Governmments to mitigate the efforts of a downturn in the world economy.

In some respects, better checks on who can afford credit is no bad thing. In the short term this is will be painful as those of us with less than perfect credit rating will either be declined or what have tougher conditions set on us for credit.

In the medium term, this should improve the fiscal climate as the amount of bad debt or people defaulting will decline and then the financial companies will start to offer us credit again. Hopefully with some intelligence, we can ensure we do not just go ina circle again.

ThichHeaded, you are a very luckly person and I am working my butt off to get to the same place as you. Owing no one.

reply to post by ThichHeaded


Who exactly are you referring to? Whose stupidity..Americans, government, I don't follow you. Please expand if you do not mind.
I am guessing you are referring to those who always borrow.

reply to post by palehorse23


Considering that this is a representative of the IMF making statements on this, I tend to look more towards what Mr. Strauss-Kahn wants out of the deal of attempting to spread panic than anything else.

And if Mr. Strauss-Kahn does indeed have reasons to panic about the money his IMF sits on, then I am quite happy indeed. The IMF's longstanding history of financial loans to the likes of General Pinochet of Chile, Alfredo Stroessner of Paraguay, or the other myriad of military dictatorships this group has had tied to their purse strings puts them in a not so positive light, imo.

Their track record in regards to democracy and human rights is enough to question the motives of any action on their part.

The "imf" *laughin' out loud* who borrow money from them anyway?! 3rd world countries borrow money from China & India.Certainly not imf.Not to mention that this is Strauss-Kahn that's speaking *intensified laughs*

Don't lower the interest rates at all& even raise them up, that's my option.
The mighty us empire will fall the hell down.As for us we may suffer or not, for some time but i couldn't careless you have no idea.

Six months eating potatoes, i'm ok with that if that's what's required.


[edit on 28-1-2008 by themaster1]