World Economic Outlook

Steve H. Hanke's picture

If the IMF doesn’t disclose its method for calculating inflation in Venezuela and doesn’t have any access to the country, why do the FT’s reporters continue to report a flawed IMF forecast? Because the FT reporters bow to authority unquestioningly. In this case, the IMF.

Citi: "A Clinton Presidency Will Be Marked By Near-Continuous Investigations, Impeachment Risk"

"Mr Trump ‎may be heading for defeat but the prevalence of low trust, identity politics and demographic divides across the developed world suggests that he will not be the last non-mainstream candidate to come close to power.  Moreover, a Clinton presidency is highly likely to be marked by near-continuous investigations as well as the risk of impeachment." - Citi

Can The Price Of Oil Hold Above $50 Per Barrel?

"I am doubtful that the price of oil can rise very high, for very long. Our oil price problem is part of a much larger problem. Once we understand the reason for our low-price problem–diminishing returns and the economy’s tie to the use of energy - it is clear that there is no way out of the problem over the longer term."

Globalization Is Done

The end of growth exposes the stupidity and ignorance of all but (and even that’s a maybe) a precious few (of our) ‘leaders’. We are transcending into an entirely different stage of our lives, our economies, our societies. Growth is gone, it went out the window long ago only to be replaced with debt. And that’s going to take a lot of getting used to. But there’s nothing that says we couldn’t see it coming.

IMF Chief Christine Lagarde Should Resign Immediately

Does being the Managing Director of the International Monetary Fund mean never having to say sorry? As Christine Lagarde blunders on from one mishap to another with apparent insouciance, it would appear so.

IMF Slashes US GDP Growth Outlook: Now Sees US Growing Only 1.6% In 2016

Having observed consensus economic growth expectations for the US tumble month after month, in its latest World Economic Outlook, the IMF decided to once again play catch down from its over-optimistic +2.2% outlook in July to just 1.6% now  which still remains above consensus expectations of just 1.5% growth in 2016, pouring cold water on Obama's strategy to paint the economy as growing strongly.

Lagarde Flip-Flops Again On Brexit, Warns Of "Disastrous" Trump-Style Protectionism

Ahead of the vote on Brexit, IMF head Christine Lagarde warned of a prolonged period of uncertainty. After the vote, Largarde said Brexit provided the EU a better opportunity for reform. Today Largarde is certain of disastrous consequences if another large county turns protectionist. In doing so, she pointed her finger at Donald Trump.

IMF Warns Brexit "Uncertainty" Means "Even Lower Growth" For UK, EU

“Brexit has created significant uncertainty and we believe this is likely to dampen growth in the near term, particularly in the U.K. but with repercussions also for Europe and the global economy. Prolonged periods of uncertainty and associated declines in consumer and business confidence would mean even lower growth”

IMF Urges Obama To "Tackle Poverty" As It Tells Yellen To Overshoot Inflation Target

In its latest staff statement on the annual analysis of the U.S. economy, the IMF again demonstrated why economists have become the butt of financial jokes, when in the same report it first urged the Fed to "overshoot" its 2% inflation target, clearly unaware of the dramatic shift in sentiment that unorthofox monetary policy no longer works to stimulate inflation, and in fact quite the opposite, while at the same time it cut its US GDP forecast yet again, from 2.4% to 2.2%, and concluded that, drumroll, there is "an urgent need to tackle poverty."

Steve H. Hanke's picture

In January, the International Monetary Fund (IMF) told us that Venezuela’s annual inflation rate would hit 720 percent by the end of the year. The IMF’s World Economic Outlook, which was published in April, stuck with the 720 percent inflation forecast. What the IMF failed to do is tell us how they arrived at the forecast. Never mind. The press has repeated the 720 percent inflation forecast ad nauseam.