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IMF's Lagarde Is "Deliberately, Decisively, Desperately Optimistic"
When the head of the IMF "thinks there is some good news," and applauds Japan for its "innovation," it is clear that Christine Lagarde is struggling for positives in this interview with Bloomberg TV. Though she says all the right things, dots-the-i's-and-crosses-the-t's off as a confidence-inspiring global elite should do, the lack of enthusiasm is clear. "I'm deliberately, decisively, desperately optimistic," she exclaims even as she admits that they just downgraded global growth expectations and somewhat slams the US for "blind and blunt" fiscal consolidation, preferring instead "austerity... but not front-loaded." All-in-all, "a bit of work needs to be done," is as good as it gets for now.
Lagarde on what the ECB should be doing:
"The ECB has done an awful lot. For the last couple of years, it’s just incredible how much out of its traditional boundaries it has gone…It’s the only central bank that still has a bit of space. And I trust that they will be using that space when they feel that it will be most useful and they have the biggest leverage effect. What’s in it? It’s not just the sake of reducing rate. It’s making sure that it travels to the real economy and that the banks that lend to SMEs, to households, will actually apply a lower rate as well. So it might be that to restore the fluidity, a bit of work needs to be done at – at the other end, at the receiving end."
On actions by U.S. and Japan's central banks and whether the expectations that they are setting are too high:
"Well, the unemployment target has always been part of the traditional targets of the Fed in the US. The Japan central bank has clearly innovated by pushing the inflation target from 1 to 2, by doubling the monetary mass by a factor of two, by deciding to do so within two years. It’s a two, two, two, two, which we welcome, which needs to be completed though by two other principles that have to do with structural reforms in Japan. Very much needed. Anybody who wants to enter the Japanese market will tell you so. And also the fiscal consolidation plan that needs to be anchored to reduce the Japanese deficits and the debt of Japan."
On whether she's optimistic:
"I’m deliberately, decisively, desperately optimistic, yes…I think there’s some good news. The fact that the average debt around the world has stabilized, too much there is of it. It has now stabilized and the deficits on average has been halved since the beginning of the crisis. So there are some good news. It’s a question of keeping at it and pursuing the major reforms that have been initiated."
Lagarde on what the prescription is for dealing with different economies around the world that are recovering at different paces:
"We would like to move to full-speed recovery and not three speed. It would be far more efficient and there would be more spillovers between the various zones. For the moment, we have that three speeds. We have the emerging market economies and low-income countries. We have – moving very fast and doing quite well. We have the second group which is on the mend, which has done quite a bit of work, particularly on its financial sector."
On the IMF downgrading global growth forecasts:
"First of all, let me observe that we have slightly downgraded, but we are moving up from last year a little bit, not much, but up. So the global economy is growing thanks to essentially the emerging market economies and the developing market economies. So it’s growing. What in our view could help it to grow better and faster would be the completion of the financial sector reform, would be the completion of the rebalancing between the various economies, and would be a clear focus on a sensible fiscal consolidation path, and could – in the medium term – and specific measures intended to develop growth, jobs and equity. So you have two – it has to walk on two feet. And one is a set of combined policies that are specific to each of the three groups, and those three construction sites, if you will, that have started but need to be completed."
On the IMF's criticism of the fiscal path of the U.S. and what we are missing:
"Time. Because what is needed is clearly fiscal consolidation, but good fiscal consolidation, not blind…Blind and blunt is the problem. Sequestration produces just that. And we need fiscal consolidation upfront, but not too much of it. At the moment, we see too much of it. 1.8 percent fiscal consolidation is too much at the time. But the US also needs more fiscal consolidation in the medium term, and clearly anchored, clearly communicated so that economic actors know what to expect and know that the determination of the US authorities is to bring the debt down not by cutting now so strongly, blind and blunt, as I’ve said, but over time and making it irreversible."
On whether the IMF is a defender of austerity on a global basis:
"We are not exclusively focused on fiscal consolidation, which is the scientific word for austerity, if you will. We are very concerned about the right balance, and that means lots of things. If you look at the policy mix, it means fiscal consolidation, yes, in all advanced economies pretty much because they are heavily indebted, and they are running deficits and have been running deficits for most of them. But it also means the right monetary policy in order to encourage growth, in order to lower interest rates in the long term. It also means structural reforms. Because in many economies, including advanced economies, you have bottlenecks. There are areas of business where one cannot go without having the right license, without having the right permission, without having the right set of attributes that very often are really obstacles in the way of unleashing the entrepreneurial spirit that is in each of us. So not just about austerity, but a combination of those three is very often needed."
On Europe's austerity measures:
"Most of them have to do some fiscal consolidation because they are heavily indebted and because they have and they are running and they have been running large deficits. But it’s a question of how much and how quickly. And for some of them, there is no reason to rush into upfront, heavily-loaded fiscal consolidation. Look at the Netherlands, for instance. They just decided, and I think they rightly did so, to reduce the pace, to continue to do it, but to allow a bit of time in order to let growth prosper, which is clearly needed and makes fiscal consolidation much easier."
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The only good news for her would be if she found a plastic surgeon who
was willing to tackle the job of a make over for her face.
IMF's Lagarde Is "Deliberately, Decisively, Desperately Tanned"
Reminds me of http://www.nypost.com/rw/nypost/2012/05/04/news/web_photos/tan_mom_ap--3...
The appearance of the law must be upheld, Especially when it's being broken
"We would like to move to full-speed recovery and not three speed."
Typical cunt driver who doesn't realize she's going in reverse.
I would do 6 months in solitary for the priviledge of punching her in the face a few times
Violent prick.
Violent prick.
Violent prick.
Bedwetting homo
No its a lesbian suplimenting T. Becomeing unhinged is an unfortunate side effect.
Another desperate idiot.
Christine Lagarde, everybody.
The 'Ted Baxter' of international finance.
I made it to 00:32, lying cunt
It's a linguistic difficulty is all. If you plug her words into Google translate you get "We're so screwed". <Be sure to select 'Politican' as the original language>
Smelly prick.
hateful dyke
Fried frog
This bitch is deranged.
You're the deranged prick.
Of course the first comment has to be about her looks, and from a crude mainstream point of view too., She's a distinguished looking woman who exudes poise, class and beauty. So Fuck off asshole misogynist.
ROFL.. you're one really butthurt IMF cheerleader today aint ya
You and your perma-tanned dog-ugly hero Lagarde can go fuck yourselves.
i bet she has a lovely pair of bollocks..
I'm not a big fan of that guy
That was very funny.
You know, I was thinking the same thing, all the global "elite" all of them, not a sexy, good looking one in the entire lot..man or woman how do these people propagate?
It has to be surrogates thats the only thing that would keep that illuminati dream alive
Imagine the spawn of a Lagarde/Blankfein....
I imagine it's a bit like Golem in TLOTR. The evil consumes them and it manifests itself in their physical appearance.
Cliches exist because of their element of truth. For example, politics is just show business for ugly people.
To be fair, what's she supposed to say? We're so phukt we're chapped? Pay me what she hauls in and I'll make Baghdad Bob sound like Edward R. Murrow.
After all of that tanning, her labia has gotta look like a set of elephant ears.
at that age they're referred to as "meat(or beef) curtains"
Jerky curtains, maybe.
But I will say this for her: she does look remarkably lifelike.
Reptilian symbionts thrive when given ample UV rays and large doses of vitamin K.
Caution: enter at own risk
http://www.returnofkings.com/8455/how-to-identify-a-roast-beef-vagina
Got 10 inches of heavy snow here today/tonight, had to pull two people out the ditch after work, and there's been a power outage since 7 p.m. I'm sitting in the dark. You, Sir Dogbreath, made me spray brandy all over my computer.
Thank you.
(I always heard the term Dangling Dinnerplates, too, btw.)
With all the darkness around us in the world I'm glad I could make you laugh. ZH is a tough crowd. You got two junks for laughing. Talk about uptight.
Nothing as bad as your shriveled dick and sagging scrotum with 2 pop hairs scralwing out. UGHHHHHHHHHHHHHHHHHHHH.
Brazil (2/10) Movie CLIP - Plastic Surgery (1985) HD
http://www.youtube.com/watch?v=Bnx95KyQEAA
Plastic surgery?
You need it to get rid of your MAN BOOBS
is he/she related to mozilo?
Of course the first comment has to be about her looks, and from a crude mainstream point of view too.,
She's a distinguished looking woman who exudes poise, class and beauty. So Fuck off asshole misogynist.
Tyler, you spelled "orange" wrong.
Call her Agent Orange.
I'd hit it.
It would snap off your dick and while you were screaming in pain it would run around your house looking for your physical Au and Ag.
With an axe...
too late, sloppy seconds
the filthy misogynistic rants are vile. The world is screwed if you creeps are the norm.
What was the old saying?
"Put a flag over the face and do it for Ole Glory!"
And you'd be arrested.
She wouldn't let a greasy smelly misogynist punk like you near her.
Mata pic needed elephant hide enhancement. May she spend more hours in that Illuminated Cancer Tube.
Even John Boehner thinks (s)he should stay out of the tanning salon.
That's a man, man!
Who the fuck cares what a man's man says or any man for that matter.
another NWO flunky sent out from Chicago to wreak havoc and sow misery upon the world
Ex-Goldman. Any questions? /s
that's pretty much a given with these cocksuckers.
At least she gets to turn back into a pumpkin at midnight, the rest of us are stuck here.
bleh....she stinks of corruption and a complete lack of expertise in everything she touches...yanno..just like a used car salesman, a slug and a goldman client salesperson..
lest we forget
http://www.policymic.com/articles/30513/christine-lagarde-imf-chief-s-home-raided-by-police
http://abcnews.go.com/International/imf-chief-dominique-strauss-kahn-charged-rape-sexual/story?id=13609991#.UXCEhbWG2So
sarkozy, lagarde, strauss kahn, berlusconi...all in the gang that are above the law of peasants like us, and treat us with the contempt we deserve for being pissed on from a great height by their golden showers of superior beingness.
SR 76 Wall Street
http://www.youtube.com/watch?v=7VOWnnEphjI&feature=youtu.be
most excellent..kind of almost got me hoping that someone out there actually gives a shit about the corruption in washington that just might have the power to affect the debate..
i am stiking to my meme's:
1. no representation without taxation
2. it is more valid to withdraw reserves from the fractional reserve system in times of the issue of odious debt (no possibility of repayment by politicians/banksters that "game" the system, above levels of 50% of debt to gdp for government, state or city.
3. the sum of all profits to banks represents a cost to the economy as the clients of banks lose money to grant that profit and it makes no difference whether JPM, BoA, Citi, GS etc etc makes the "profit", some bank will always impoverish a client by making a "profit".
4. all manufacturers citing factories, plant and equipment offshore are stealing capital (money) from america.
5. it is insane to spend more money than practically the rest of the world put together on the military.
just saying :)
Asian booger picker at 3:20
By that nose and tribe you shall know her.
Lagarde seems sincere. I wonder what drug she's on.
Power.
Where optimism crosses into propaganda.
She should chill out and buy some BitCoin Last price:$108.39522
DSK looked like shit. She looks worse, and evidently, sucks more. - Ned
Well the only good news is that JGBs did not implode. But while they were limit down the Central banks of the world had to wack Gold on the same day those bonds were limit down!!!!
FUCKING BULLISH!!!!!
Obviously what is needed the most are fancy new terms for describing how to steal people's money and ruin their fucking lives, like fiscal consolidation.
she flaps her gums alot but says nothing
allot a nothin'
imagine how much banker jizm she has gargled to get the job
She's got a lot to say for someone that pays no taxes.
Turbo Christine?
Like, oh my god, who is the interviewer? Is she going to do lemon drops with her girls after this and get, like, sooooo drunk?
Five years on - and the elite are just now starting to realize that a global economic collapse might effect them personally. The horror.
affect
I will go to my grave never using effect and affect correctly. I've made my peace with it - it no longer affects, uh, effects...it doesn't bother me anymore.
Instead, just say "I'm impervious to _______."
To me, the most stunning point about this deteriorating global economic shambles is that the political elites and central bankers refuse to even admit the existence of alternative policies to halt the decline and turn the corner. They are collectively locked into Keynesian policies espoused by the likes of Krugman and are marching in lockstep towards the cliff, taking their own citizens with them after destroying their middle classes and impoverishing their whole nations for generations to come.
To describe these people as mad nutters is way too kind.
""I'm deliberately, decisively, desperately optimistic,"
Under the smell test the analysis is that she is under the influence of either Opium denial, or suffering with withdrawal symptoms from an overdose of religious inspired, economics - ie, blind faith, as represented by the observable delirium tremens.
Ho hum
I think you mean Hopium denial.
Skanky ho.
YOu vile misogynistk pig. Fuck off dick crapper/
Does she have hepatitis?
Watch her roll her eyes hard to her left as she is forced to admit that she agrees with Japan's monetary policy at about 1:00.
Bbbbbull..shit. Oh my, please excuse me.
I'm the head of an archaic, defunct vestige of a now completely irrelevant treaty that was abadoned over 40 years ago. I jetset the world talking to world leaders and failed regimes looking to steal their way back into legitimacy. My predecessor was setup in supposed crime that had so many holes in it that even the NY attorney general didn't bother bringing it to court. Everyone of French friends is involved in some sort of tax evasion. My organization has no real money of its own, we just extract political concessions for powerful western counties in exchange for a swap line with the US federal reserve.
This bitch is completely delusional.
And you're a vile misogynist pig the world would be better off without you.
Listen to me you mouthy bitch.
Women belong chained to the stove with enough slack to reach the bedroom, because those are the only two places where your rib-stealing gender is worth a damn.
If you're lucky I might even fuck you if you shave those skanky armpits, ok?
Isn't she due in the Ol' Grey Bar Hotel already?
After you you ugly fuck
What an epic mug you are.
Nobody has any money. Plan accordingly.
she represents the official sector where major decisions are made that affect hundreds of millions. her remarks reveal a stunning lack of understanding what is going on. God help us all......it will be painful, it will be long but in the end the road which we are traveling now will bring us to repudiate the debt (ie legitimize current situation).......
just saying....
Like she would reveal on MSM what the real plans are.
"The Japan central bank has clearly innovated by pushing the inflation target from 1 to 2, by doubling the monetary mass by a factor of two, by deciding to do so within two years."
obviously the word "innovation" have been bastardized into something entirely different than what it used to mean ...
kind of makes you wonder why they dont just introduce price controls hey?
or
buy up all the goods and services in the basket that makes up the cpi and create shortages!
assholes
And the truth is, “the effect of Japan's QE will be similar to that of the US in that much of the money will wash around the world being leveraged higher by X10, perhaps X20 to INFLATE ALL ASSET Prices ALL OVER THE WORLD.”
And, adds the editor of The Market Oracle Nadeen Walayat, “Japan is now printing money at a rate that is more than DOUBLE that of the U.S. which equates to 1% of GDP per month, which converts into potential EXTRA inflation of 12% per annum! Much of which will leak out of Japan and into other world economies.”
He reminds us that in the better days gone by in England “There would have been no bank bailouts under Thatcher! Many people blame Thatcher in part for our current economic crisis but without Thatcher Britain would not have had an economy to destroy as had Labour won in 1979 then Britain would have drifted to the left of the USSR!
And “left of the USSR,” as we’re all finding out, is that special place in Hades to which Christine and Ben have led us – an economic abyss of pain and suffering amidst the world’s abundance designed for the complete subjugation of mankind to economic tyranny and exploitation by the powers of darkness in the gravest political and economic crisis of freedom in the world's history.
hahaha...the scions of US capitalism have led us to "the left of Soviet Union"...Those who saved Britain in 1979 have spawned this in the name of : "where there was discord we bring harmony; where the road to Serfdom was paved in statist intentions of liberty's strangulation we propose small government and big bang deregulation... and let those bolshy trade unions go to hell!"
Now isn't life a wonderful circle of the Dharma principle, the circle of divine order and justice. Reaganomics has fathered this monster; all the while saying the contrary.
How Marx K, not Groucho, but who knows maybe he too, will be laffing in his grave :
"I told those fuckstas, that their system was despotism personified, the concentration of wealth with capitalism's ugly leverage all in the hands of a few. They didn't believe me; not that my "dictatorship of proletariat" was any better!...
But now these guys have outdone my vagrant sons, Lenin and Stalin, all in the name of "free will" and individual's "inalienbale rights to free enterprise", which has become Dorian Gray's portrait in its ponzi metamorphosis.....Hahahaha; this is something out of a Billy Wilder movie...this is "Front page" stuff, this is "Some like it hot" type mayhem frenzy."
Why does man's heritage always fall in between those cracks of logic and exemplary conduct gone south?
I just recently learned (I think it was here) that Legarde has Chicago background. God, these people really are a revolving door of failure worldwide. Like cockroaches - you flick on the lights and they just scatter to some other point in the house and start ruining that part.
http://en.wikipedia.org/wiki/Christine_Lagarde
Say what you will about Christine Lagarde.
But I remember when she came on replacing The Skulking Evil that is Strauss Kahn.
She said some things that got her into hot water and her handlers reined her in.
"blind…Blind and blunt is the problem. Sequestration produces just that."
Sequestration? How the fuck are budget decisions of a sovereign state any of her business? Oh yeah, Europe... Regardless, shouldn't she be talking about the $85B the Fed is blindly injecting into big banks? Oh, wait, isn't that the opposite of austerity? What is it we're trying to accomplish here again?
Christine Disregard.
That creature is not a human being.
No, ugly, you are the one who is not a human being.
The more optimistic you are, the greater your leadership skills. Self-confidence, ambition, and optimism are all it takes to make you a great boss, or so I've gathered from the leaders I've known.
I would like to give Christine LagGarge a brand new pearl necklace!!
I wonder how she enjoyed her Paris apartment being raided by Putin's boys after her fuck up with Cyprus.
Poor Madam Lagarde has got only two options:
1) Look stupid on TV
2) Have her properties raided again like last month in Paris before cyprus theft under CORRUPTION CHARGES.
If I were her, I'd take the 1st anytime, too. Better free and stupid looking than in a jail.
OK. who else besides me believes that "leatherneck" read her parts from a teleprompter? She tripped over too many words for it to be impromptu. And what she said was just B/S mumbo jumbo designed to sound good, buit was totally worthless.
Leather lips
Not cautious but desperate ? IDK is it me , or does she look a bit pale ?
Well, at least she has good fashion sense.
https://www.youtube.com/watch?v=GA27aQZCQMk
And evidently quite sun-dried.
She's a triple-D. Who would have thunk it?! hujel
'deliberately, decisively, desperately optimistic'
what the hell did jessi jackson say?
Desperately optomistic.....
Well those are words of encouragement.
The people of Europe need to give the IMF, and their minions a dose of the 3 G's Guns, Guillotines, and Gallows
And Delusional! Don't forget DELUSIONAL!
She is boring. The French are boring and the IMF should not exist. Shameful, some poor worker in Detroit on less than $3 an hour is bankrolling the IMF with every-other US taxpaying sucker.
But this guy, damn does he drop the bomb! This time on Thatcher's funeral
http://www.youtube.com/watch?v=L23xVESIamY&feature=share&list=UUGThM-ZZB...
Funny 'cause its true.
She makes a living talking optimistic about hopeless situations that rob the little people of their savings.
Maybe they should interview her again when she has to dig through garbage to eat.
That is one ugly woman. And, I'm of French ancestry.
And you're one ugly misogynist man.
She's Jewish
It's pure bull****, probably drafted by other people, to pretend she has any idea what she is talking about. Her priority, like all French people, is to promote the French state first, and then to save the euro, whose leaders are among her cronies. There may be no real solution to the world situation but what's needed is some honesty and competence from the IMF, and a leader who isn't compromised by politics
Stop the QE and see what happens you dumb bitch. The global economy is hanging from a thread
Stupid prick.
The only "space" that the ECB has is either to monetize the debt(s) or confiscate everyone's bank deposits.
What a cunt! I hope she gets trialed and jailed (yes I'm a naive dude) :-)
She could make money in a circus by charging people for a chance to flick her adam's apple.
"Her priority, like all French people, is to promote the French state first, and then to save the euro"
You got it all wrong. She has "slave to the globalized 1%" tattooed on her (skinny) ass!
Want an example : when Poland joined the E.U. and got plenty of money to do so what did they do with the dough? They bought US f-16 jet planes instead of Euro-made hardware.
Who settled the deal with the US arms industry? Christine L.
Anyone taking bets yet on how much longer she will last in the job? Between her and DSK it looks like head of the IMF is not a long term job.