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IMF Panics - Slashes US Growth Forecasts, Demands Fed Stay On Hold For Another Year
Anxiety over financial stability and shadow banking risks appear to have force Christine Lagarde and her fellow extrapolators to hit the panic button:
- *IMF CUTS U.S. 2015 GROWTH FORECAST TO 2.5% FROM 3.1%
- *FED SHOULD WAIT FOR TANGIBLE SIGNS OF WAGE, PRICE GAINS: IMF
- *DOLLAR `MODERATELY OVERVALUED,' CURBING U.S. GROWTH, JOBS: IMF
- *IMF URGES FED TO DELAY FIRST RATE INCREASE UNTIL 1H 2016
Adding that they viewed the Dollar as "moderately overvalued" and any more appreciation would be "harmful," it seems global disinflationary pressures have left the IMF no choice but to say publicly what everyone has uttered under their breath.
The Federal Reserve should hold off from raising interest rates until the first half of 2016, the International Monetary Fund said as it cut its U.S. growth forecast for the second time in three months.
The lender also said that the dollar was “moderately overvalued” and a further marked appreciation would be “harmful,” in a statement released in Washington on Thursday on its annual checkup of the U.S. economy.
“The FOMC should remain data dependent and defer its first increase in policy rates until there are greater signs of wage or price inflation than are currently evident,” the IMF said. Based on the fund’s economic forecast, and “barring upside surprises to growth and inflation, this would put lift-off into the first half of 2016.”
...
“There is a risk that a further marked appreciation of the dollar -- particularly one that takes place in an environment where policies to address growth deficiencies languish both in the U.S. and abroad -- would be harmful.”
The report also discussed financial stability, with the IMF pointing to higher risks in shadow banking, a potential lack of liquidity in fixed-income markets, and greater market risk-taking in the insurance industry
* * *
Now Yellen is really cornered.. and just exactly how are the talking heads going to spin this as positive?
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Their toes must be bleeding from kicking that can year after year.
More like "Keep this shitshow going until my term is up!!"
Funny but I am sure Janet told the reptile to say this......
Now serving number 7.
https://www.youtube.com/watch?v=UkMIgtYB8DM
it sez: "CL and her EXTRAPOLATORS"
It should read "CL and her EXPLOITERS"
Treaties before contracts.
Contracts for the peeepz and treaties for their high nessies.
Meanwhile, if Calypso Indian flute is yer thing...
https://www.youtube.com/watch?v=aaZcFjEOr2s
The Orange Reptile named Legarde, prefers the Pan Flute.
They're not going to raise rates?
I am SHOCKED I tell you.
Come on Janet, just raise them a quarter point. Nothing bad would happen with that, would it?
Looks like another year of currency depreciation FTW. Maybe DC will start yet another war to keep issuing debt?
Wait, I know, TWO wars. Yeah, that would work. One to increase the debt, one to replace the money that O care sucked out of the economy.
pods
@max2205
YUP!!!
They cannot raise rates & they damn well know it...
That is some funny shit, another story that sounds like it came from "The Onion". Hilsenrath, and now LaGarde.
"Walmart to increase profit margins by not paying employees until 1H 2016."
Or until that shiny new island home is complete.
"*FED SHOULD WAIT FOR TANGIBLE SIGNS OF WAGE, PRICE GAINS: IMF"
Ain't gonna happen! Short term thinking CEO's (the same ones that are the central bankers and politicians puppet masters) are squeezing their employees like lemons in order to make their next bonus, so forget about any economic recovery.
Exactly.
Because the IMF Jews have nothing at all to do with the Fed Jews, nothing at all. What a joke on the working Goy.
"More like "Keep this shitshow going until my term is up!!""
That's what Bernanke did!
Yup. Nobody wants to get stuck holding the hot potato, and that bitch will be HOT.
Bingo, it'll NEVER happen and the "rate increase just around the corner" is simply a way of keeping assets from exploding as opposed to just inflating.
They meant to say 2316.
Window dressing. THEY'RE STUCK.
Were they not bitching last month about the loose monetary policy of central printers?
1937
<---this was written into the script months ago
<---this was spontaneous, unplanned
kind of like naming Hurricanes....they just plug in the made up numbers
<--- I would do Caitlyn before Christine
<--- I would do Christine before Caitlyn
And now for the more trendy survey question
Is this a survey of how many ZH posters are gay? I'll take real pussy, not whatever the fuck is going on down there.
think of it more like voting
Then I'll do what I did last presidential election, stay at home and jerk off.
yep - voting in our dispicable 2 party system is like voting to get shot in the face -or- to get shot in the balls
Using your standards, NOT voting is feeling good about NOT voting to get shot in the face OR NOT voting to get shot in the balls while being both shot in the face and shot in the balls. Lose, lose, or lose-lose. What a great choice.
I prefer to vote 3rd party, here in NY its an all or nothing state, I know we are going to go blue so I just vote 3rd party so they can see and ignore my disgust.
Porn and pedanticism are always preferable to politics. As is playing with your own pony. ;)
Jim crammer on cnbc this morn" how many divisions does the IMF have"
actually I'd say a little of each - they've KNOWN we weren't going to be able to raise for months (if not years) but they've definitely put off facing it as long as they can...
Yeah, something or other about governments needing to roll their ever increasing debt at the short end of the curve and how central banks can't go fucking that up. Ever. But don't get me wrong. I have faith the central banks are virtuously independent.
That's the first time I've heard the insurance industry mentioned.
Fonzannoon used to bring that subject up TWO YEARS AGO. Good thing the Tylers banned him. We wouldn't want to have anybody too smart or savvy around here.
Fonz was a paperbug, not so savvy.
I got killed for saying "Since Lehman" by Sunday Tyler. No, I don't know why.
I'm all about the real gold, but I always got along with Fonz.
Things can get weird around here on the weekends. And at night. And during the day.
Could you share your previous i.d.?
GetZeeGold.
I've done the "Since Lehman" bit quite a few times in recent weeks and no banhammer. Maybe something else triggered it?
Ahem..... I feel a little left out when talkin about pointing out the insurance industry. But that's okay, I'm courageous like Catlyn and can take it.
Sorry. No offense intended. That was one of his classics, so I just thought of him.
No offense taken. But a sandwich would really help to ease the pain.
What do you like? I'm not far from declaring defeat at this point.
I AM JAME GUMB.
yeah, like insurance "agents of fortune"
I told people to cancel any optional insurance and raise deductibles years ago. Go for the jugular.
MET, AIG, PRU are all designated TBTF . MET has been fighting the designation.
http://www.reuters.com/article/2015/05/12/us-metlife-lawsuit-idUSKBN0NX01920150512
Tom Hanks maniacal laughter when the bathtub falls through the floor.
That is all.
Actually, if you think interest rates are going to stay low, it'd behoove you to buy a decent home wouldn't it?
I already own six of them. How many more do I need?
Moar...... that many.
Moar's law is the observation that, over the history of fiat/economic manipulation, the number of Muppets in a dense Ponzi scheme has doubled approximately every two quarters.
Wait, let me pop some popcorn and pour some more Dr Pepper. This is gonna be fun.
My popcorn ran out years ago.
Not till oligarchs have 99% of all assets....not till they have it all!
"I realize now that I was wrong."
I Was Wrong - Social Distortion
The IMF changes their estimates like their underwear.
Whats the point of forecasts if they are only good for a month?
Apparently forecasts mean much to many; look at how many say Global Warming is real, when the meteorologist can't call the correct weather (with sophisticated science behind it - wink wink); yet people believe the glorified meteorologist, called a climatologist or climate scientist, with even more sophisticated science-based computer models and tell all who disbelieve the lie that they are stupid.
---------------------------------------------
I'm stupid because I don't believe they can possibly know and what they have presented is very tainted at best to down right deception for the sole purpose of enacting a global tax. Follow the money trail which leads to illicit motives. I'm also stupid because I don't by the "goo to you via the zoo" grand-daddy of lie of marco-evolution fiction whose natural end is eugenics and genocide since, for the good of mankind and their goddess "Mother Earth" must be saved by culling the population as decided by the "special people". (Agenda 21)
Oh Fuck the IMF.....we all know where their growth forecasts all go.....revised downwards.
"2.5 percent growth" of what? Cancer cells? The US is not growing it's contracting! Look around you .
pure insider trading, this type of thing should all be investigated, bunds/ treasuries all reverse agressive selling / yield rises 1-2 hours before IMF comes out with call for delayed easing.. lower growth.. so they will manipulate / forcast / data weaker so they can keep going with the QE.. ect..
In one year when equities are another 10-30% higher and property is 10-20% higher its going to be easier to adjust.. ie its never going to be easy to adjust its pretty clear the sooner the less impact..
Its all Frankenstine, these people think they can create life (growth). All they end up with is a dead monster. Only nature can create life. Something they will never accept, because power never accepts limitations. How sad.
As for the markets juiceing them only gets you an even bigger angrier monster. Still dead. Nature always wins, its her game.
So much for any rate hike in 2015. Janet is putting on her pointy-toed boots to kick that sucker into 2016 and beyond.
The U.S. Treasury has the only veto at the I.M.F. so this is Jack Lew telling Janet Yellen not to hike.
"appear to have force Christine"
Going to get someone to edit the posts anytime soon?
I'm convinced most of these articles are written on the fly with smartphone voice recognition.
Probably not entirely. There are too many spelling errors. Smartphones don't make spelling errors.
A lot of the articles are just taken from other sites. Those typically do not have spelling errors or obvious grammatical errors.
Smart phones,,, LOL,,, Just a POS Walkie Talkie used to connect you to the the NSA Farcebook while you sit at home jobless and skilless waiting for your pizza delivery.
My father is 82 years old. He spent nearly 50 years as a college professor, lecturing 18 year-olds who had to listen to get their credits. He mumbles, repeats himself, stammers, and can be nearly impossible to understand. He got a smartphone last year, and used the voice-recognition to send texts. I've been saving them, as they are masterpieces in the vein of Thomas Pynchon, William S. Burroughs, Jack Kerouac, etc. Here are a couple:
I'm sure it must be find the orange I'm not be fine the orange
oh well I'm the orange grandpa remember
- 2/19/15 (I don't recall the context)
I want to get it for beer droid periods of the beer joint
this doesn't mean anything I am glad of that because I have
tried to mean something I have tired to me something I have
tried something I have time give me something I have tried
something have time give me something I've tried and this is
being not very interesting I am sure you will all agree
Merry Christmas
-1/28/15 (I don't recall the context; had nothing to do with beer)
And the classic, which seems like an out-take from "Naked Lunch":
yeah we saw those plays and there was no question I get our minds
mama bear is my are mines that does did do the hump I recall
correctly I don’t understand what they seem to be doing I’m not
I will I don’t know morally correct I would probably be with you
its not let me put it his way it shouldn’t dat shouldn’t have this
I’m with this this message has his little bit garbled because I’m
speaking into it and rather than trying to type of which I haven’t
been very good at on the phone
So I mean I agree with you that is the stupidest rule life and I
think I’m going to cause you’re trying to make everything so rude
but I really ties in baseball that I’m really tired how to make
everything feel so alone electronics ok any rate you have my thought
on that love you girl love you girl to girl. No dear no no no there’s
no girls involved your sure of that too
- 4/8/14 (He was at a baseball game I was listening to on the radio, and I texted him that I didn't approve of Major League Baseball's new use of Instant Replay).
So yes, I'm pretty sure many of these articles are generated the same way.
Yes, but no spelling error... all of the nonsense is spelled correctly.
That's true. I'm not sure if any of the words are correct, though.
I've been seeing more of those errors in print in recent years. Nobody hires human editors anymore so mistaken homonyms and homophones get through all over the place.
Everytime I happen to hear some politician or other idiot speaking on TV or radio, I say out load - "You are just saying words! There is nothing there! Just words!"
My wife has started using that phrase when she is dealing with idiots (usually me).
Interesting: in a thread about spelling errors, etc. you write "I say out load"...was this done on purpose?
As for "There is nothing there!", at least we know that there are lies. Even when they're saying nothing, just spewing out words, there are still lies.
damnyouautocorrect
HA HA. What a farce. Have they run out of lies, misdirection and spin ????
"just exactly how are the talking heads going to spin this as positive?"
and you may find yourself living in a shotgun shack
"Now Yellen is really cornered.. and just exactly how are the talking heads going to spin this as positive?"
Old Yeller doesn't have to. They already have their scapegoat, it's called CONgress. They can and will use their ineptitude for printing moar. The fed heads are already setting the stage.
Star Trek III: The Search for Rate Hikes.
After years of qe failing and rates still at zero the Federation choose to take a new radical course and try raising rates. Captain Kirk and the crew of the Enterprise would have to travel back in time to the year 2006 to find out how this process could take place.
Time travel was in IV: Voyage Home. I'd like to travel back to 1986 San Francisco and buy a shit ton of MSFT & APPL!
(shit ton = fuck load)
With my luck, were I able to do what you suggested I'd return to the present and find CPM was the dominant OS for PCs and APPL would have failed after Lisa, so we'd all still be carrying Sony Walkmans.
I think your right, the FED asking for 1Q GDP adjustment maybe the FED pushing to have dodgy Govt data thats deliberatly made weak adjusted to the proper level.. ie US and Japan Govt both are manipulating the data weaker to allow for QE / Govt spending to remain high.. ie if the real GDP/inflation data was released the FED/BOJ would be adjusting and the Govt would be reducing spending making way for private sector..
the Fed should tighten in June..let the bonds sell off the Govt needs to balance the budget and accept the debt needs to be restructured.. or when it does sell off regardelss of Fed it will be too late..
The Fed can only talk about raising rates - they can't actually raise them. The only thing that might happen is if lenders start demanding higher interest rates on bonds, and I have my doubts about that.
*FED SHOULD WAIT FOR TANGIBLE SIGNS OF WAGE, PRICE GAINS: IMF
Apparently the IMF did not pony up $250,000 for a lunch with Bernanke to hear him say:
"No rate normalization in my lifetime."
To be contrary: Nobody ever said how long he'd live did they?
They took one look at the phony BLS stats this morning and said " oh nooooooooooo...."
And away we gooooo!!!!!! BTFD you FD's. What a farce.
This is simply from the global playbook of "good-cop" (FED) being helped by "bad-cop" (IMF). The FED cannot raise interest rates and need some help to sell the message to cover their lies (i.e. phony employment numbers), at least until, either all the back door plunge protection is fixed or they are ready to let it implode...just another indication that the FED policies have backfired on their own and failed depending on how you view it. I believe they, like Obama, have succeeded because the goal has always been to destroy the middle-class.
Spot on. The globalists definitely want a weakened America and it fits right in with the playbook of the Marxist con man that's in office.
YeeeeeeeHaaaaaaaaa. No work for at least another year. Print. BTFD. Bitcoin last price $225
All sideshows, to keep the Sheeple distracted from really profound changes going on behind the curtain. E.g.,
http://rt.com/news/264745-wikileaks-secret-tisa-documents/
https://en.wikipedia.org/wiki/Trade_in_Services_Agreement
So, Given TPP and TiSA adding up to >70% of the world economy, tell me again about how the BRICS are going to "kick ass".
Unless the BRIICS back their currencies with Precious Assets (Gold, Platinum...), there will all fall under the weight of the King Dollar -- which is using these Agreements to maintain its global hegemony in perpetuity. For all their talk, I suspect that the BRIICS do NOT have the balls or unison (too susceptible to 'Divide & Conquer') to go to PM... NOW, in order to front-run these trade deals.
Talk to me again about who's outpacing, outmaneuvering, outflanking and front-running whom? [chuckle]
One thing to consider: Since we all know the numbers coming from .gov are lies, what makes anyone believe the western economies are anything near what they say they are? I read a time back that China thinks the US economy is something like less than half of the reported number.
Reality depends on what is real, what is percieved, and the junction points between the two. I do not know.
@ King Dollar -- which is using these Agreements to maintain its global hegemony in perpetuity…
That is the objective, yes. We are in the last chapter for paper currency and it has become a fight between the banks and value.
The U.S. Congress and the Oval Office no longer work for the American people; they work for the interests of the international bankers, i.e., the globalist power-brokers whose goal is world government, universalism. The Fed, the IMF and the World Bank are one, a trilogy designed in 1944 by the Fabian, Keynes, and the Communist, White, as the world reserve currency was handed over to the Rothschild-dominated owners of the “U.S. Federal Reserve” System in the aftermath of WWII. These agreements are grounded in years of careful planning.
TiSA, the same as their other agreements, installs an international bureaucracy of entrenched economic interests – a financial tyranny. As Wikileaks points out:
… The participants of the talks include 24 WTO members, such as the US, EU and other countries including Turkey, Mexico, Australia, Pakistan and Israel.
…The secret trade agreement covers 68 percent of world services.
…A number of the world's economies, including all the BRICS countries – Brazil, Russia, India, China, and South Africa – are excluded from the TiSA negotiations, which purport to benefit the global economy.
…The agreement is part of the strategic “T-treaty trinity”: the Trans-Pacific Partnership (TPP), TiSA, and the Transatlantic Trade and Investment Partnership (TTIP). It complements the other two global trade agreements dealing with goods and investments, which are all currently being negotiated in secret. TiSA is believed to be the largest component of the three.
…“TiSA aims at opening up markets and improving rules” in a number of areas, including financial services, transport and e-commerce.
How now shall we live, will it be by self-determination and freedom or will it be by the NWO’s agents of tyranny and oppression?
Agree 100% with TheReplacement and JR above.
My tenor is... although I HOPE that the BRIICS will prevail -- simply to get to a multi-polar and more libertarian world by knocking King Dollar off its throne -- my concern/fear is that these bass-turds will win on 'Procedure', because between the Anglos + the Manifest Destiny Neocons + the Ziocons there is centuries' worth of experience in Guile and Deception.
I hope that this Trade Trinity spurs the BRIICS to shift into a higher gear, because it's coming down to a foot race to the finish line.
"As for me and my house, we shall serve..." the timeless and universal principles of Nature and libertarian principles. And remember that Freedom is not for the dumb, lazy, scared or disorganized. If you want that, live in Greece, Ukraine, EU or USSA. Oh, wait...
Yes. More than "divide and conquer". None of the BRICS has structure or intent for trickle down largesse. Just look at their Gini Coefficients. Just same mafia style org in different color and in different territories.
Also, the combined GDP of the RICS is not equal to C (China).
When elephants fight, you are trampled. When elephants make love you are also trampled i.e. for those inhabiting these places.
What is needed (a long shot) is the brotherhood of the dispossed (the global 90%).
Politics anyone.....raise right before the election.....Hmmmmm
As if reality matters in the Twilight Zone.
This is awesome fucking news. Here's the out that the Fed needed to NOT raise rates or do anything. EVERYTHING IS BEAUTIFUL!! Buy Buy Buy!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
And "markets" go straight hyperbolic green and into ATFH!
IMF, ECB, FED, BOJ, BOE, all of you, GO FUCK YOURSELVES!!
Can't. Let. Dow. Drop. Below. 18,000
This is more proof that the U.S. economy is in the crapper - but bobbleheads will use this as a positive. Whatever cash you have, pump it into the stock market guys - help them out - they need MORE!
Does this mean I can continue to buy gold with my zero percent chase credit card?
If this cashless society push gains real traction, which I am not convinced it will, then this would be a back-door mechanism to further attack gold and silver, while they, the elitist continue to accumulate hard-assets at breakneck speed...another indication the end is near.
The US economy can never again improve until the useless overhead is cut. Christine LaGarde knows this as well as anyone and I have no clue about her optimism for H1, 2016. Maybe it is intended to get people off of focusing on September ... a psych play. Useless overhead includes:
government and regulatory cost
insurance cost
banking cost
legal cost
There comes a time on most corporations' lives where management is stealing too much, they have too many people and too many useless processes ... and people are being paid more than they could get in the open market.
At that point the company either dies because it can no longer compete OR the management sees Jesus and changes OR some competitor or buy-out firm purchases them and makes the necessary adjustments.
This is where we are with the US corporation. It is top-heavy, has way too much overhead and is extremely inefficient. By the US corporation I mean more than the United States Corporation (of 1871?). I mean the whole crony banana... Jeff Immelt, Jamie I spell it with a "B" Dimon and Warren Buffet included.
Motes and gates limit expansion and growth, who new?
Does the FED take marching orders from the IMF or does the IMF take orders from the FED? I say they both are taking orders from the Chinese.
--------------------------------------------
We are nearing the end of the end times; so be ready my Christian brothers and sisters as we are called to...proclaim boldly that God commands all people to repent and believe the gospel, for you can fail in many things in life with few real consequences, but this failure to obey, for our good, is the failure that has eternal consequences. Why will you die in your sins, when the free gift of forgiveness of? All your sin is forgiven, no matter what it is...why would anyone choose otherwise.
Christine just says what she is told to say. This was clear from that wacky speech she gave about the number 7.
the fed is an extension of the america statist political system, with a close working relationship with japan and europe. QE for one and all, and carry trade dynamics. the IMF is a global loan sharking operation which services emerging markets. the BRIC has pretty much severed ties with IMF, and now their primary responsibility is generating SPDR (i honestly dont know the difference between the World Bank and the IMF, but really there is little or no difference in the any of these global banking organizations. your bank has different functions, investment, residential mortgage, commercial, etc. different functions, same fat cat at the wheel. the Europeans have the same thing, Troika, ECB, EU, how many branches are there?) so nobody take orders, they all work toward the same goal, global banking operations. and people are rightly upset the US has thrown its hat in with the NWO, but the first depression was a global event and so ever since they have working together, as though that mattered the first time around.
5 billion people disagree with you, but surely you are correct. Why would anyone choose otherwise? Because fairy tales aren't real. If you need religion to subdue your fear of death, then that is understandable. Just don't push your belief as if you know that philosophy is absolute.
This MUST carry on until Obama is out of office.
We can't have the 1st Socialist of the 21st century getting a bad rap.
Forward Soviet!
Crony capitalism=Socialism As IF President Obama is anything more than a figure head.
Crony Capitalism = socialized losses, privatized profits.
Yeah, well, it's that thing again - which economy ? The 'real' economy would love real interest rates - not just savers, but businesses get a opportunity-cost chance at funding...but no, for What, why, the banks of course, some parallel dimension where they go on about how money and accounting are not particulalrly important, nevertheless...whew!... it's optics, main street wants about 3%, the Fed wants about .3%, ..let the banks kill the economy..if they're not allowed to do that, they'll kill the people
All one needs to do is google the following: IMF forecasting recording
Standard Disclaimer: Marmion Canto VI, XVII
Nice to see that the lies are catching up with them...
Meanwhile, IMF should plant more SDR trees to counter loss slave spending crop growth. Oh, look at the loonies in Canada are joining the bandwagon with Bill C-51.
https://www.hrw.org/news/2015/06/02/canada-senate-should-reject-countert...
the only news here is the hyperbole. liquidity becomes a cross border issue, the IMF deals directly with the EMs, they are just talking their book. they all sit down at the same table for dinner
IMF, FED and everyone from the establishment .. knows we can't raise rates in our lifetime! We're barely growing with rates at rock bottom .. how can anyone sane think this indebted world can withstand 2-3% rates?
https://contrarianstraighttalker.wordpress.com/2015/06/03/even-the-imf-now-recognises-were-past-the-point-of-no-return-2/
Growth ..... lol
IMF is on a high level crash & burn national security alert.
http://www.imf.org/external/mmedia/
They told us that interest rates can fix any ailments if applied in minimal doses.
If I buy a 3d printer and toss in some green ink and a picture of Ben Franklin and then give that money to a HFT; make tons of money; buy back the 3D Bills: what is the problem?
Who lost?
What did they lose?
I call this the Real Economy.
How about this Fed: What we tried didn't work, let's back out of this plan and start down another path instead of going deeper down this rabit hole. Is Janet as arrogant and blind as the bernank? Bernanke needs to be dragged in front of congress forced to publicly applogize for being an idiot and locked up for messing up so badly.
Because everyone knows that zirp leads to gdp growth. Those balloons in cb assets are just an accidental coproduct.