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In The Latest IMF Comedy Of Errors These Charts Are Most Disturbing
As noted earlier, one of the more irrelevant events that took place overnight was that the IMF once again cut its outlook for global growth. Irrelevant, because this is precisely what anyone who has seen the IMF in action in the past has come to expect (see "IMF Comedy Hour: The Complete History Of The IMF's Growth "Forecasts" Since 2012", "The IMF's Comedy Of Quarterly Errors Reveals The Biggest Hockeystick You Have Ever Seen", "Comedy Of Forecast Errors: Here Are The IMF's Latest Projections Of Economic Growth" and so on). Sure enough, here is what the latest "global growth forecast" looks like: everything else is flat except 2015P which was cut from 3.8% to 3.5%, and 2016 was also cut by 0.3% to 3.7%.
On the surface nothing too surprising by the institution whose only job, year after year, is to try and stimulate global confidence, and year after year failing and instead making a joke of its economic forecasting abilities.
What drove the latest round of global cuts lower? It wasn't the US which was actually revised modestly higher (for the time being; it too will ultimately be revised lower), and Europe which was just barely cut.
Here is the main culprit:
But even more disturbing than China's growth forecast, is what the IMF sees global growth doing, which nobody will be shocked to learn, has once again been drastically slashed lower.
Why is this disturbing? Because as the world is slowly learning, it is all about trade, and central banks can't print trade.
Without a rebound in global trade, there can be no rebound in global growth period. And indicatively, 2014 global trade was originally expected to grow by 5.5% in the IMF's January 2013 forecast. It closed at 3.1%, or nearly 50% lower. Expect the 2015 forecast for trade, currently at 3.8%, to also be slashed to a sub 3% print when all is said and done - the first time trade will have a 3%-handle in the 21se century!
And yet, all of the above is largely meaningless as all it really is, is a bunch of economists trying to come up with practical numbers using broken theories as an attempt to boost confidence. And when it comes to the IMF and economists, the only "chart" that is even remotely relevant is the following.

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The little engine that couldn't!
"I think I can, I think I can! Chugga chugga choo choo! Awww, fuck, who dynamited the tracks!?"
Love the stick's brand name "Vector"
Sooooo green shoots hair transplant and economic recoveryish
What's our vector, Victor?
Hey, whats up with our loss of confidence? The fine people at the IMF are simply trying to provide us a little optimism and we are just pissing all over it. Sure, they have been wrong...forever...but shit, so have we. They say the sky is the limit and we say the end is near. Maybe if we are lucky it will fall in the middle...
Nah, who am I kidding. This sucker is done, toast, over.
Prosperity is just around the corner; I can feel it...
https://www.youtube.com/watch?v=eZDLcvPBHnU
Just around the corner
There's a rainbow in the sky
So let's have another cup o' coffee
And let's have another piece o' pie!
Trouble's just a bubble
And the clouds will soon roll by
So let's have another cup o' coffee
And let's have another piece o' pie
Let a smile be your umbrella
For it's just an April show'r
Even John D. Rockefeller
Is looking for the silver lining
Mister Herbert Hoover
Says that now's the time to buy
So let's have another cup o' coffee
And let's have another piece o' pie!
It's called, Shitty!...Shitty! Fed BANG<>
the top 0.1% now control all the "chokepoints" in finance, shipping, realestate/landlord, courts, utilites, regulation and taxation, insurance etc.
they have become too stupidly greedy for anyone to deal with them-and any one who does-and does so successfully so as to become percieved as "beating" them financially, why they get a dose of FREEDOM! courtesy of the anglo-american military enforcement arm.
"everybody gets it in the five hole" _ Christine Lagarde
Did somebody say Legarde?
Someone beat her with her Prada purse please. Just take that $1000 purse off her shoulder and beat her!
That would give a whole new meaning to "The Devil Wears Prada." I can just picture some ZHer snapping and doing exactly that while saying "You see that? Wear it! Wear it!" *WHAP* *WHAP* *WHAP*
All this doesn't mean squat compared to the billions of tons of radioaction-infected seawater pouring out of Fukushima.
The rest of this is just a distraction...
Prepare your own self....
I thought there was only three? you sure you can fit in the other two holes mentioned?
Legarde has five penises. Small ones. I'll leave the mechanics of how they're used to your imagination.
don't judge me but now you made me want to do her :0
notice that women were haned the baton. but would men give up power to women if they had any power left?
Wayne gretzsky for treasury
I would prefer messier lemieux or lindros
Just don't let Mrs Gretzky (Janet Jones*) run the Fed.
That Hollywood actress was "born to shop".
* http://en.wikipedia.org/wiki/Janet_Jones
You can't print trade...great line
Of course that won't stop the ECB from creating its own version of QE later this week. But someone has to find a way to cleanse all the toxic debt
If the data wasn't manipulated in the first place I might care.
I think the 2014 economics Nobel Prize winner maybe a sign of change in perspective. he is no krugman.
“tame powerful firms”
http://www.theguardian.com/business/2014/oct/13/jean-tirole-nobel-prize-...
looks like a limp dick
'Ask your doctor about treatments for ED (economic dystopia/dysfunction syndrome)'
*Warning: Side effects from liquiditidimatrazine™ may include; rising prices for your meat and other necessities, social unrest, police-state tactics, income inequality and impotence. Consult your central bank for details.
Liquiditidimatrazine is only approved for use on bankers and oligarchs.
Here comes the perfect 45° bottom left to uppper right low vol melt up.
IMF = I ncompetent M other F uckers
International Monetary Fraudsters
Indepenent money folders
Incapable mooching ferrets
I might flinch
Isis Might be Fake
Isis Might be our Future
I Munch Fur
Who will really need a bailout soon, Greece or IMF. Snowballs are in season.
IMF "forecasts" are almost as solid as ratings agencies' triple-A "opinions"...
Taking a cue from the NFL, the IMF is invetigating whether Draghi intentionally deflated the Eurozone in advance of the "Stupor Bowl", aka his press conference.
It's a fallacy that low or negative rates make it possible for Soverigns to pay back debt. Productivity is destroyed through savings destruction and purchasing power destruction.
Based on Krugman's physique, I'd say he's hoping his heart fails before his head is abruptly taken by the angry masses.
https://www.youtube.com/watch?v=AtTrES7p5O0
Thanks! Short---Sweet--- and to the point~
Ah, if only an anti-Keynesian political hero, one who could communicate such ideas to plain folk, could emerge, perhaps first in the U.S. ... well, one can only dream ...
Oh, that's something I've been thinking about for a while now. When rates go to zero money multiplication stops. When they go negative, money multiplication goes in reverse. Not everywhere, but anywhere there is money. Which means investment grinds to a hault while consumers stop spending down their savings because it generates no income.
I haven't quite got my brain wrapped around the idea yet, but it came from a random thought I had one day: What if lower interest rates are NOT stimulative? What if that whole concept is untrue?
It isn't. The price of LIFE is higher than ever. Insurance, Food, Medical Care, ect are exploding in cost, and losing the talented individuals that provide those NEEDS, because of Central Banking policy.
Other than paying off usery, what is the imperative for 'growth?
Spreding 'growth' seems like spreding 'democracy'.
I find it hilariously ironic that the angle between the blade and the shaft is called the lie.
Those 'hockey stick' charts are as ugly as the 2014 Formula 1 cars! No moar hybrid banksters or cars....
Are you kidding? Inflation targets and growth in the Military Industrial Complex have surpassed even IMF hopes.
Why therefore can't we use this 'blueprint' for success in the other sectors?
signed
Sarky Basterdo
First chart looks like a logo for the hockey world cup.
We are all Tiger Woods.
#REF! - Invalid Cell Reference
Can't resist:
What's our vector, Victor?
https://www.youtube.com/watch?v=fVq4_HhBK8Y
n/t