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IMF Brings Good Tidings: Prepare For Another Lost Decade!!!

 
Luisport

User ID: 24866632
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10/03/2012 08:53 AM

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IMF Brings Good Tidings: Prepare For Another Lost Decade!!!
zerohedge‏@zerohedge

IMF Brings Good Tidings: Prepare For Another Lost Decade [link to www.zerohedge.com]
Luisport (OP)

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10/03/2012 08:53 AM

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Re: IMF Brings Good Tidings: Prepare For Another Lost Decade!!!
The world economy will take at least 10 years to emerge from the financial crisis that began in 2008, the International Monetary Fund's Chief Economist Olivier Blanchard said in an interview published on Wednesday.



...



But even though the focus was on Europe's troubles now, he said, the United States also had a fiscal problem which it had to resolve.



"It's not yet a lost decade... But it will surely take at least a decade from the beginning of the crisis for the world economy to get back to decent shape," Blanchard said.



"Japan is facing a very difficult fiscal adjustment too, one which will take decades to solve. China has probably taken care of its asset boom but has slower growth than before, but we do not forecast any really hard landing," he added.



Blanchard said that adjustment in the euro zone required a decrease in prices in the bloc's indebted southern half and a rise in core countries.



...



"A somewhat higher inflation rate in Germany should simply be seen as a necessary and desirable, relative price adjustment," Blanchard said. "Given overall demand conditions and the ECB's strong mandate to ensure price stability, this is not the beginning of hyperinflation," he said.



On the debt crisis, Blanchard said that debt reductions were unavoidable but it should be done without stifling growth, walking on a "narrow middle path."



"If you do it too slow, the market thinks you're not serious, if you do it too fast, you kill the economy. For each country you have to find the right path of consolidation," he said.



He said inflation-targeting had serious limitations and using just the main policy rate was not enough.



"You can have an economy in which inflation is stable and low, but behind the scenes the composition of the output is wrong, and the financial system accumulates risks."
[link to www.zerohedge.com]
Luisport (OP)

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10/03/2012 08:58 AM

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Re: IMF Brings Good Tidings: Prepare For Another Lost Decade!!!
zerohedge‏@zerohedge

From Bloomberg: ADP Suggests Equal Risks for Payrolls Beat or Miss. Well that settles that
Luisport (OP)

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10/03/2012 09:06 AM

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Re: IMF Brings Good Tidings: Prepare For Another Lost Decade!!!
bump
Luisport (OP)

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10/03/2012 09:10 AM

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Re: IMF Brings Good Tidings: Prepare For Another Lost Decade!!!
zerohedge‏@zerohedge

@lizzie363 $120 Billion in defaulted Federal student loans is bullish for QE 7 - the student loan monetization edition
Anonymous Coward
User ID: 14317225
United Kingdom
10/03/2012 09:14 AM
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Re: IMF Brings Good Tidings: Prepare For Another Lost Decade!!!
Lol, it took the IMF all this time to realise this...

sherlock
Luisport (OP)

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10/03/2012 09:20 AM

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Re: IMF Brings Good Tidings: Prepare For Another Lost Decade!!!
Lol, it took the IMF all this time to realise this...

sherlock
 Quoting: Anonymous Coward 14317225


lolsign
Anonymous Coward
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10/03/2012 09:20 AM
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Re: IMF Brings Good Tidings: Prepare For Another Lost Decade!!!
"A somewhat higher inflation rate in Germany should simply be seen as a necessary and desirable, relative price adjustment," Blanchard said. "Given overall demand conditions and the ECB's strong mandate to ensure price stability, this is not the beginning of hyperinflation," he said.

I'd love to see him tell that to a struggling family trying to survive rising food prices.
Anonymous Coward
User ID: 14317225
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10/03/2012 09:22 AM
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Re: IMF Brings Good Tidings: Prepare For Another Lost Decade!!!
"A somewhat higher inflation rate in Germany should simply be seen as a necessary and desirable, relative price adjustment," Blanchard said. "Given overall demand conditions and the ECB's strong mandate to ensure price stability, this is not the beginning of hyperinflation," he said.

I'd love to see him tell that to a struggling family trying to survive rising food prices.
 Quoting: Anonymous Coward 14317225


This guy is a complete out-of-touch twat. God, I hate inflation shills like this guy.

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