The IMF Gets It Wrong (Again)

Tyler Durden's picture

Having previously admitted its an idiot and a liar over Greece forecasts, constantly missed world expectations with a much more rosy picture of hockey-stick-like growth than actually occurs, and now Ukraine's insanely optimistic assessments; we thought it only fair to point out that, yet again, Christine Lagarde has been forced to say "we got it wrong." This time the IMF underestimated UK growth - a year after blasting the nation's planners for "playing with fire" by cutting its budget spending. As Bloomberg reports, pressed on whether she had apologized to Chancellor of the Exchequer George Osborne, Lagarde stopped short of saying so and said “Do I have to go on my knees?”

 

As Mises Canada's David Howden notes,

Christine Lagarde admits that the International Monetary Fund “got it wrong” when it chastised the British government’s austerity plans. One year ago the IMF’s chief economist Oliver Blanchard claimed the U.K. was “playing with fire” by cutting its budget.

 

With the benefit of hindsight, the IMF has changed its stance. The U.K. economy is set to grow 2.9% this year, the fastest among the G7 nations. Furthermore, the growth is being driven by investment spending, not consumption as the IMF had long thought necessary.

 

Though she stopped short of apologizing for the Fund’s poor recommendations in the past, Lagarde allude to begging for forgiveness. Rather than seeking forgiveness after the IMF makes a mistake, why doesn’t it stop giving out bad advice so that it doesn’t find itself in these embarrassing situations in the future.

We coul dnot agree more...

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lordylord's picture

They didn't get it wrong.  They just lie.

Colonel Klink's picture

Stole the words right off my finger tips.  Exactly like Bernanke's predictions, when you're wrong 100% of the time, it's not a mistake, but a LIE!!!

lordylord's picture

 What is the use of central planning if they can't plan anything? Waiting to hear back from a Statist...i'll give you a hint, it is not about planning, it is about CONTROL.

smlbizman's picture

please with all we have, keep the transgender tangerine off her knees....amen

Vampyroteuthis infernalis's picture

Yes, it is not about being right it is about getting your way.

insanelysane's picture

Those in control want to direct where the money is going.  They get paid to make winners and make losers.  Free markets are a real problem for them.

Muddy1's picture

“Do I have to go on my knees?”

I dunno, is Bill nearby?

COSMOS's picture

Don't matter to them if they get it wrong, they are always 'RIGHT' next to the money tap.  She gets her big fat paycheck taxfree guaranteed no matter what happens.  Hope someone sets the tanning salon Light tubes 'phasers set to kill'  I can't stand this tangerine BITCH.

mvsjcl's picture

Question is, who's doing the "investment spending"? Next question is, what are they "investing" in? Next question is, where is this "investment" money coming from? Next questioon then becomes, who's getting the bulk of this "investment" money?

 

Anusocracy's picture

You're just jealous because you don't look like a poorly carved Halloween pumpkin.

45Condor's picture

...I took a different approach when explaining her appearance in my little book (For Pip's Sake!):

Well, there you go. The big cheese with the Mimolette-coloured tan, reassures a continent with a stale expression of pale hope; whilst other women within the countries wrought with financial rape by the institutions that Largarde is in league with, have to swallow an assault to their dignity. This denigration of pride witnessing more and more women uncrossing their virtues, closing their eyes, and submitting to carnal exploitation… the current price to pay in order to scrape enough money together for the bread on their tables.

I wasn't too flattering about her institution, either:

I don’t think those in the IMF are stupid, that’s for sure. Nor are they cheap, with annual administration and travel costs in excess of 850 million US Dollars. This bill, allegedly, also covers 3000 US Dollar a night sex parties, and goodness knows what else, for top officials within an institution that is supposedly in place to help the poor, but which often leaves populations wondering just who exactly benefitted from the filling of the begging bowl.

Nor of her work within it:

Take, for example, her comment that: “The criteria have specifically included an element that foresees a degradation of the situation of some states so as to push the hypothetical conditions to the extreme."

If this is the best that the current managing director of the International Monetary Fund, commonly abbreviated to the IMF, can come up with to explain a situation, then I foresee that we are truly you know what.

I could go on, but I feel that I would be preaching to the converted...

 

 

SDShack's picture

"it is not about being right it is about getting your way."

The sociopath manifesto.

JRobby's picture

Has she selected her swimming costume in preparation for the tsunami yet?

Like her presence was going to make some kind of difference?

Just another tool in the oligarchy's box.

Pladizow's picture

  “Do I have to go on my knees?” - NO THANKS, I'll pass!

Grande Tetons's picture

Do not forget about the shitting on her face option. 

ParkAveFlasher's picture

I wouldn't stick my ass anywhere near that face.  I mean that.

WarPony's picture

This is so coincidental I must reply.  I heard that story years ago and had not remembered it since until it disgustingly popped into my mind last night when I awoke in the middle of the night with ears ringing and couldn't go back to sleep.

This is not IMO "Celestine Prophecy," but more like mass mind control from the GWEN towers (or, something?)?  The chem-trailers have been working hard lately.  We must resonate on the same frequency or this is a ELF base-type "transmission."  And, stop it!  You're freaking me out!!

COSMOS's picture

She must have a sex tape out there somewhere where she sticks a 24K gold bar up her ass and another up her vagina, that is the only thing that will make a central banker cum, well that and videos of dead and dying women and children in Ukraine and around the world where IMF loans are being forced on the population.

CPL's picture

The romantic Cleveland Steamer then?  Nothing says I love you like the triple pile.

BlackChicken's picture

That was the edited version. She really said "do I have to go on my knees AGAIN?"

astoriajoe's picture

What, is DSK back in the house?

ParkAveFlasher's picture

Only if he has the element of surprise! 

Shizzmoney's picture

RE

What is the use of central planning if they can't plan anything? 

Central planning *is* working - for them.  All of the gains from these countries "centrally plan" themselves right into the bankers' accounts.

BlackChicken's picture

The controll was established from day one; the planning however is pure evil.

If satan decided to be a female, Lagarde would probably make a good host.

inky's picture

"If satan decided to be a female, Lagarde would probably make a good host."

I think satan is in hillary at the moment.

The man with pointy horns's picture

No, no, no! The satan is in Feinstein.

HamRove's picture

Sorry guys, you're all wrong. The devil has been transferred to none other than Chairman Yellen. You can tell cuz she looks like a coked up oompa loompa on her off hours. Make up and photo shop have done wonders for her TV image. 

 

BlackChicken's picture

"...she looks like a coked up oompa loompa..."

Thanks HamRove; that was priceless.

DetectiveStern's picture

She was right first time. Unless you're in London things are going tits up here.

SAT 800's picture

Agreed. It's an example of accounting fraud on a massive scale. England is a country with no visible means of support.

Relentless101's picture

No skin in the game, so who cares. Make these fucks bet their own money on the words that come out of their mouth and I bet predictions get a lot better. Still impossible to predict the future, but sick of people who have no risk telling the world how it is. Most banksters never have or will run an actual business and therefore will never truly know what the fuck they are talking about.

Perfecthedge's picture

Nope.  They watched Scarface: "Don't get high on your own supply".  The words and forecasts are only for OTHERS, not them. 

Accounting rules? Only for the small guy that is trying to earn his bread.  Money laundering laws? Only for the stupid fucker that is trying to send 25 US$ from his PayPal account (not shitting you, THIS happened to me.  They are investigating me over 25 bucks....)

FUCK.

THEM.

ALL.

Just

fuck em.

Dr. Engali's picture

I just got done eating lunch William.

DoChenRollingBearing's picture

Indeed, now that´s just a nasty one.  LOL.

Winston of Oceania's picture

I'm going to assume it is still better than seeing the real thing...

nmewn's picture

lol...looks like Leatherface Borat got all excited and popped a Draghi.

ParkAveFlasher's picture

I interpret it as a sort of surreal hermaphroditic marsupial.

nmewn's picture

The shoes & socks really set it off ;-)

Jena's picture

It could have been worse:  Birkenstocks.  With socks.

remain calm's picture

Better than I thought she would.

Relentless101's picture

Honestly, I would have assumed more hair. More like a werewolf mid change.

oddjob's picture

The direction of the gender reassigment schedule is questionable.

BeetleBailey's picture

LaGarde needs to stay in the fucking spa....lay on the beach...get fucking browner....lick pussy and balls day and night....eat Brussel sprouts and swill Chardonnay...

....AND STAY THE FUCK OUT OF FINANCE....FOREVER....

Anglo Hondo's picture

Just now printed a copy of that, and mailed it to Cameron, 10 Downing Street, and Osborne, 11 Downing Street.

I hope you don't mind, William.  (Also going to send a copy to Nigel Farage).