IMF Cuts Global Growth Outlook, Says Europe May Worsen Outlook

Tyler Durden's picture

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Harlequin001's picture

There's not a lot gets past these guys is there?

Does anybody have any update on Fukushima?

It's always nice to know who's being irradiated and when, and especially when it might be one's self...

falak pema's picture

lol, hot seat, hot statistics and cold fear knee jerks. You can smell the odour of sweaty fear from these predictions. Like in a Hitchcockian movie.

max2205's picture

Doesn't Timmmaugh and the Fed tell the IMF what to say.... hummmm

optimator's picture

It's the reverse, the IMF is Timmy's boss, but they all report to the BIS.

Harlequin001's picture

yep, sometimes you just can't beat a good calamity to start off your day...

TheFourthStooge-ing's picture

Funny how this happens on the exact day that Bernankey and Friends begin their special two-day meeting, and I don't mean funny ha-ha.

 

papaswamp's picture

Saw a report from Al Jazeera saying scientists (other than government) recommend evacuating parts of Tokyo. 

http://blog.alexanderhiggins.com/2011/09/19/experts-warn-fukushima-worse...

The report is towards the bottom (youtube)

Dr. Engali's picture

George Washington keeps a pretty good eye on that. I'm curious about the explosion in France. I haven't heard crap about that.

Dr. Engali's picture

Clearly a bullish sign. Dax 8,000 here we come.

Harlequin001's picture

Now let me see, if the IMF is cutting its estimates of 'growth' to still positive figures, where is all this 'deflation' everyone keeps banging on about?

King_of_simpletons's picture

BULLISH. Gawd the good news keep coming just in time for the stock market to keep going up.

Harlequin001's picture

You know, I've been looking for years for an 'unbullish' event but just can't seem to find one...

truly amazing...

LongSoupLine's picture

Time to fire up the RPM's on the printers...bitchez.

LawsofPhysics's picture

Welcome to the top of the delta function folks.  Certainly a great view from up here.

lolmao500's picture
  • IMF CUTS U.S. 2011 GROWTH ESTIMATE TO 1.5% VS 2.5% SEEN IN JUNE

-1% within 2 months... nice. What will it be in November? 2011 growth 0.5%??

disabledvet's picture

Down 25 percent. That's the type of living standard cut that accompanies default on such a scale.

lolmao500's picture

Ya if the bubble pops, the GDP is gonna take a dive of at least 20% the first year.

Tense INDIAN's picture

""Something BIGGEST must be coming"

Curtis LeMay's picture

So much for China bailing out the PIIGS...

BOC halts forex swaps with European banks

(AFP) – 1 hour ago

The Bank of China (BOC), one of the country's "Big Four" lenders, this week suspended trading of foreign exchange swaps with some European banks, Dow Jones Newswires reported Tuesday.

French banks BNP Paribas and Societe Generale and Swiss lender UBS, which is currently facing a rogue trading scandal, are among those affected by the suspension, the report said.

Bank of China halted the trades after it reached the limit on its trading credit lines with some European banks, Dow Jones reported.

http://www.google.com/hostednews/afp/article/ALeqM5h17OLsPX43FHuoc5IFLjKi6aU-MA?docId=CNG.77cd4bd8c06dc74456f79fd61ebb1bf6.1321

 

TheFourthStooge-ing's picture

That's OK. A quick switch of the printer plates and the Bernank can start cranking out a big steaming pile of Renminbi. It's all clownbux, so does it really matter which clown's face is on it?

 

 

Smiddywesson's picture

Global ZIRP is the answer.  What was the question again?

LawsofPhysics's picture

What is the fastest way to destroy productive capital as well as every economy (both real and fraudulent) and revert the world to a gold standard under pinned by trade and barter  OR start a world war?

Either way TPTB will come out the other side unscathed, win-win.

mayhem_korner's picture

Key question here is whether the markets will respond to the IMF's "voice."  There's nothing new or insightful in these proclamations, but'd be real interesting if suddenly the market levitation took a hit.

(channelling) We are the Priests of the Temples of Syrinx...

fdisk's picture

Look at GOLD chart 30 min, Second day in the row
same time same actions.
FED/Goldman? Rising in Asia session and Dumped in NY session?
Co-accident my A$$.

mayhem_korner's picture

Good observation, fdisk.  It's amazing how the U.S. overnight market (Asian day) behaves so "differently" than it does in the daytime.

Opacity is the last deadbolt of the power vault.

firstdivision's picture

Wow!  Why doesn't the IMF just ask for QE3 instead of all this foreplay?

mayhem_korner's picture

Real question is whether they "ask" or "direct", no?  Aren't these little "statements" all test balloons to monitor (orchestrate?) market response?  Just sayin...

disabledvet's picture

This is the IMF? Hahahahahah. Lower interest rates? Bailout banks? Hahahahaha. Certainly not familiar with this organization. Just ask anyone else on the planet what an IMF plan looks like. This ain't it. Greece should exit the euro right now.

Vincent Vega's picture

Dear Ms Lagarde, Nothing new here; perhaps you should start reading Zero Hedge.

Hearst's picture

Ready - Bernak, Set - ink cartridges, Go - print!

junkyardjack's picture

The market obviously priced in worse, this is bullish.  No need for QE3

adr's picture

If 100 million working class Americans need to starve to death to keep the global ponzi going then so be it. That is the mandate of the Fed and that is what we will get.

The United States is a dead country and it has already been written off in favor of the new Ponzi blood in the form of a billion Chinese. You only have to suck 1/10th the blood of a chinese man to get the same fill of an American. There is just so many cattle over there. American cattle are all skin and bones.

The stock market is nothing but a carrot on a stick leading youto the slaughterhouse. They tell you they are leading you to riches, but you never actually have the time to cash out.

Loose-Tools's picture

"... Everybody's gone Serfin' ... Serfin' U.S.A."

orangedrinkandchips's picture

I wish I were kidding but the money that the Fed is throwing out of a helicopter via Uncle Ben and the Wild Rice GOES DIRECTLY INTO EQUITIES....RUT2K IN PARTICULAR....WHO ELSE IS PROPPING THIS MARKET UP?

 

Serious.

John Law Lives's picture

Why does one suppose The Ben Bernank is so opposed to the Fed being audited. Could it be he doesn't want to stir a panic if we all knew how the Fed was really operating?

lizzy36's picture

Funny everyone begging for Bernanke to act while ackowledging that he in all likely hood no matter what he does, the tumor ain't going to shrink. Hey put the unintended consequences sure will be fun.

Byte Me's picture

..Lest we forget

The IMF always wants payback in gold.

 

papaswamp's picture

Here is the US report:

http://www.imf.org/external/pubs/ft/weo/2011/02/pdf/c2.pdf

Basically they say we are fucked.

ReactionToClosedMinds's picture

.... methinks this is net 'positive' ......   it is not 'negative' enough ... (forget reality ....'reality' only exists when one cannot pay one's bills or feed oneself).  It is 'negative' on it's face and 'analysis'  (we are f*cked... the world as we know it may end , etc.) and will probably elicit desired results QE whatever) but it could have been Gerald Celente-like is my point.

 

As a previous poster put it ..... the fact they are still universally citing 'positive' percentages, albeit with a clear deceleration re-rate.

 

Now is my time to exit equities when I got caught by USA downgrade as was indecisive in July and then went on spur-of-moment family vaca .....

 

Sprott ... here I come .... 

PulauHantu29's picture

EU needs QE'ing badly looks like.

Frankie Carbone's picture

All of this news should be extremely bullish for these schizophrenic markets. I am perplexed that the market is failing to put up 20-40 points in the S&P on this news. 

I mean, it less bad, right? 

ZeroBoBo's picture

Wait a minute. Now we pay heed to what these inept economists are telling us? Is there anyone that still believed the U.S. would experience ROBUST GROWTH in 2011 and 2012? I guess only these IMF clowns still did!

In late 2008 they still could not see the crisis and now we are taking their word seriously? In mid-2009 they were saying that "we ain't seen nothing yet" right in the face of one of the biggest 1-year equity rallies in history?

Come on.

Just disregard 99% of what they say and do, they are so behind the curve in every aspect. When the last bull turns bear (and vice-versa) is usually a good time to go against the tide.

Just sayin. 

Cheers!

msmith's picture

The USD is set for higher levels once Bernanke speaks tomorrow.  EURUSD http://bit.ly/qokwK8  AUDUSD http://bit.ly/nN3SrN  USDCAD  http://bit.ly/ncvFDL