FARK.com: (6825753) IMF chief warns we might soon be partying like it's 1929

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		IMF chief warns we might soon be partying like it's 1929 (edition.cnn.com)		50
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50 Comments (+0 »)

casual disregard

2011-12-18 02:48:29 PM

It's cool, there's no way we would repeat the mistakes we've already made.

7of7

2011-12-18 03:34:11 PM

The IMF has no credibility. All it's good at is holding countries hostage and forcing them to adopt a shiatty American style economy that benefits only the wealthy.

I_Am_Weasel

2011-12-18 04:13:54 PM

Madame Tussauds has secretly replaced International Monetary Fund chief Christine Lagarde with a wax stand in, let's see if anyone notices.

Smeggy Smurf

2011-12-18 04:41:55 PM

It's ok, I'm behind 7 currencies

Runs_With_Scissors_

2011-12-18 04:45:27 PM

"There is no economy in the world, whether low-income countries, emerging markets, middle-income countries or super-advanced economies that will be immune to the crisis that we see not only unfolding but escalating," Christine Lagarde said in a speech at the US state department in Washington.

That doesn't sound foreboding at all.

ontariolightning

2011-12-18 04:52:18 PM

Something big has to happen in 2012 to top 2011

casual disregard

2011-12-18 04:53:56 PM

Runs_With_Scissors_: "There is no economy in the world, whether low-income countries, emerging markets, middle-income countries or super-advanced economies that will be immune to the crisis that we see not only unfolding but escalating," Christine Lagarde said in a speech at the US state department in Washington.

That doesn't sound foreboding at all.

So let's cut farking taxes! Oh, wait, not for you peasants; just cut the taxes of the rich. That way instead of giving that money to the government, they can squirrel it away in an endless chain of specialty accounts and gather interest on it. Stimulate the economy?? Ho, ho, ho silly bumpkin! They don't want to buy more, they can already buy whatever they want. They just want to earn more interest on what assets they own for the sake of owning more assets in the future. The only crap you get with taxes is meaningless: defense, police, ambulances, education, roads, water, etc. The rich already have all of that! In fact, taxing the rich for such public goods is effectively asking them to pay twice for something they already own! The rich already have private bodyguards, estate security forces, medical staff, tutors, personal transport, wells and rivers, etc. Why should they pay for yours?

TyrantII

2011-12-18 04:55:27 PM

casual disregard: It's cool, there's no way we would repeat the mistakes we've already made.

What mistakes?

Hector Remarkable

2011-12-18 04:59:30 PM

Her head, it looks like the goo inside would be so...tasty.

some_beer_drinker

2011-12-18 05:08:23 PM

Hector Remarkable: Her head, it looks like the goo inside would be so...tasty.

maybe, if you like cottage cheese.

Get Lost

2011-12-18 05:09:26 PM

"Capitalism will eventually eat itself"

/Oh how accurate a 150 year old saying is.
//And before you write that reply whargarblefest, the glorious U.S.S.R. was destroyed by capitalistic sabotage.
///And Cuba is too damn small for Capitalism to give a f*ck about. oil, oil, oil. hmmm?

Amagi

2011-12-18 05:29:06 PM

Get Lost: "Capitalism will eventually eat itself"

/Oh how accurate a 150 year old saying is.
//And before you write that reply whargarblefest, the glorious U.S.S.R. was destroyed by capitalistic sabotage.
///And Cuba is too damn small for Capitalism to give a f*ck about. oil, oil, oil. hmmm?

So you are all:

i399.photobucket.com

And think Capitalism is all:

i399.photobucket.com

You wish things were all:

i399.photobucket.com

But they actually turn out all this way from cronyism:

tshirtgroove.com

Which leaves us with trying to make the real world welfare state comprises started by this guy:

casual disregard

2011-12-18 05:45:28 PM

Amagi: But they actually turn out all this way from cronyism:

tshirtgroove.com

That reminds me: when the fark are they going to put Rocko's Modern Life on DVD???

/capitalism at its finest, folks
//what we demand is not supplied

stuhayes2010

2011-12-18 05:53:15 PM

Time for some emergency tax cuts.

HotIgneous Intruder

2011-12-18 05:55:28 PM

Yeah, oh yeah, bay-bee.
This globalist serving wench knows her little gravy train is about to go flying off the tracks.

droosan

2011-12-18 06:07:29 PM

casual disregard: Amagi: But they actually turn out all this way from cronyism:

tshirtgroove.com

That reminds me: when the fark are they going to put Rocko's Modern Life on DVD???

/capitalism at its finest, folks
//what we demand is not supplied

Season 1 (new window) is out now .. season 2 (new window) is slated for February.

/your wish is your demand
//or something

clancifer

2011-12-18 06:15:19 PM

stuhayes2010: Time for some emergency tax cuts.

This. I'm sure some super tax cuts for the rich coupled with cuts to support for low-income people will fix this in a jiffy!

casual disregard

2011-12-18 06:20:27 PM

droosan: casual disregard: Amagi: But they actually turn out all this way from cronyism:

tshirtgroove.com

That reminds me: when the fark are they going to put Rocko's Modern Life on DVD???

/capitalism at its finest, folks
//what we demand is not supplied

Season 1 (new window) is out now .. season 2 (new window) is slated for February.

/your wish is your demand
//or something

Hot coke!

They sure dragged their feet on it.

Rocko's Modern Life is one of those shows for which the studio executives must have been asleep and the creator had full reign. Some of the episodes make me grimace a bit, but the whole thing is just great.

Helen_Arigby

2011-12-18 06:26:46 PM

7of7: The IMF has no credibility. All it's good at is holding countries hostage and forcing them to adopt a shiatty American style economy that benefits only the wealthy.

Well, I see my comment's already been made. Still, ursine repetition.

Pumpernickel bread

2011-12-18 06:31:06 PM

History will show they all stood around and pulled each others puds while Rome (and Athens, Paris, London, Brussels, NYC, Beijing, Tokyo, .....) burned. I don't know what can be done to stop this. I don't think there is a quick fix to pull everyone out of this hole we have been digging for ourselves over several years.

jaytkay

2011-12-18 06:32:04 PM

This calls for austerity!! Only a reduction in spending can lead to an increase in spending!!

Spc419k

2011-12-18 06:39:17 PM

Pumpernickel bread: History will show they all stood around and pulled each others puds while Rome (and Athens, Paris, London, Brussels, NYC, Beijing, Tokyo, .....) burned. I don't know what can be done to stop this. I don't think there is a quick fix to pull everyone out of this hole we have been digging for ourselves over several years.

Who is this 'We' thing? Sorry, I haven't had a voice, choice, or chance at making managing any of this. I have been drug along for the ride like a chump and I frankly don't care. Let it all burn down now.

casual disregard

2011-12-18 06:40:54 PM

Spc419k: Pumpernickel bread: History will show they all stood around and pulled each others puds while Rome (and Athens, Paris, London, Brussels, NYC, Beijing, Tokyo, .....) burned. I don't know what can be done to stop this. I don't think there is a quick fix to pull everyone out of this hole we have been digging for ourselves over several years.

Who is this 'We' thing? Sorry, I haven't had a voice, choice, or chance at making managing any of this. I have been drug along for the ride like a chump and I frankly don't care. Let it all burn down now.

If it truly burns, you and yours will be kindling.

blackheart666

2011-12-18 06:44:21 PM

some_beer_drinker

2011-12-18 06:59:20 PM

blackheart666: Spc419k: Pumpernickel bread: History will show they all stood around and pulled each others puds while Rome (and Athens, Paris, London, Brussels, NYC, Beijing, Tokyo, .....) burned. I don't know what can be done to stop this. I don't think there is a quick fix to pull everyone out of this hole we have been digging for ourselves over several years.

Who is this 'We' thing? Sorry, I haven't had a voice, choice, or chance at making managing any of this. I have been drug along for the ride like a chump and I frankly don't care. Let it all burn down now.

I'm also ok with the rich burning

me, if i get their stuff.

Aboleth

2011-12-18 07:02:36 PM

I hear they've initiated Ghost Protocol.

Dwight_Yeast

2011-12-18 07:10:34 PM

Get Lost: //And before you write that reply whargarblefest, the glorious U.S.S.R. was destroyed by capitalistic sabotage.

If you believe the American party line (we spent them into the ground) then yes. But if you actually read about what went on the Soviet Union, their economy was untenable and would have collapsed under its own weight without our help.

/George Schultz actually explained this to Gorbachev, which lead to a move toward the free market under "Glasnost", but it was too little too late
//So even people within the Reagan administration knew that "we outspent them" was a lie.

Blairr

2011-12-18 07:18:16 PM

Is that the old Canadian flag??? (far right)

We made it into Commie propaganda?!

GO TEAM!!!!

Gunther

2011-12-18 07:41:48 PM

Dwight_Yeast: If you believe the American party line (we spent them into the ground) then yes. But if you actually read about what went on the Soviet Union, their economy was untenable and would have collapsed under its own weight without our help.

The "we outspent them" claim is absurd on the face of it - the USSR's military budget remained stable as a percentage of GDP from the early 60's to it's collapse.

Anyhoo, it's difficult to think of an organization that's caused as much harm through blundering incompetence as the IMF. Why should we listen to anything they have to say, exactly?

Goodfella

2011-12-18 08:02:56 PM

A more accurate headline: "Banker criminal threatens the public that if they don't give the banks another round of bailouts they will declare martial law."

MadSkillz

2011-12-18 08:03:50 PM

Aboleth: I hear they've initiated Ghost Protocol.

lol going to see that tonight in IMAX

jjorsett

2011-12-18 08:34:13 PM

7of7: The IMF has no credibility. All it's good at is holding countries hostage and forcing them to adopt a shiatty American style economy that benefits only the wealthy.

By all means refuse to knuckle under to these scum. Refuse every dollar they offer.

jso2897

2011-12-18 08:52:26 PM

winterwhile: Europe overspent

USA Overspent

anyone see the trend here to a recession????????

buy gold?

Are you buy-curious?

undflickertail

2011-12-18 08:57:49 PM

winterwhile: Europe overspent

USA Overspent

anyone see the trend here to a recession????????

buy gold?

Yep, Iraq War, Credit Default Swaps, Medicare Part D. They all started on whom's watch? Yep, W's.

Hydra

2011-12-18 09:05:14 PM

undflickertail: Yep, Iraq War, Credit Default Swaps, Medicare Part D. They all started on whom's watch? Yep, W's.

Yup, that's right. Bush and Republicans, and ONLY Bush and the Republicans, are responsible for all of the government spending going on today.

/you enjoy being a complete partisan?

Gunther

2011-12-18 09:09:20 PM

jjorsett: 7of7: The IMF has no credibility. All it's good at is holding countries hostage and forcing them to adopt a shiatty American style economy that benefits only the wealthy.

By all means refuse to knuckle under to these scum. Refuse every dollar they offer.

On the off chance you aren't trolling: corrupt leaders take IMF loans, blow them all on lavish mansions and shiny military gear, then saddle their people with an unrepayable amount of debt. The IMF has done more to fark over the third world than AIDS.

Parthenogenetic

2011-12-18 09:11:18 PM

Hydra: undflickertail: Yep, Iraq War, Credit Default Swaps, Medicare Part D. They all started on whom's watch? Yep, W's.

Yup, that's right. Bush and Republicans, and ONLY Bush and the Republicans, are responsible for all of the government spending going on today.

/you enjoy being a complete partisan?

Both sides are bad, so blame Republicans

/new twist to an old meme

Blaque Jaques Shellaque

2011-12-18 09:35:53 PM

Things are only going to get worse. Bad government and personal debt is getting bigger by the day and there is really no hope of repaying the huge sums of money owed. Eventually, the governments of the world will have to push for a world wide mulligan on the entire financial system. The amount of debt just in North America is staggering and Euroup is worse off than that.

Reset to zero and start again. Sure, that will cause huge problems but they will not be any worse than what we are facing now which is a complete implosion of all currencies and 1930`s style depression. Unfortunately, this time, we can`t spend our way out of the depression as we are already overextended.

StopLurkListen

2011-12-18 09:45:51 PM

TyrantII: casual disregard: It's cool, there's no way we would repeat the mistakes we've already made.

What mistakes?

Contractionary fiscal and monetary policy turned a moderately bad recession into a catastrophic depression.

Shorter version: Raise interest rates + austerity = disaster.

Shorter: we're 1 for 2.

MBA Whore

2011-12-18 10:01:20 PM

FTFA: "It is not a crisis that will be resolved by one group of countries taking action. It is going to be hopefully resolved by all countries, all regions, all categories of countries actually taking action.

So, we are all farked.

iaazathot

2011-12-18 11:06:32 PM

Aaaaannnnddd, the complete shift of middle class wealth to the third world developing markets is underway!

Somaticasual

2011-12-19 02:32:05 AM

Blairr: [i399.photobucket.com image 366x480]

Is that the old Canadian flag??? (far right)

We made it into Commie propaganda?!

GO TEAM!!!!

Maybe, but only as a wingman. The US really needs that comparison to reflect our "style"..

//just kidding. But seriously, we'll annex you canadians eventually. The working plan is to send palin screaming down, fully naked of course, forcing a retreat into either canada's version of siberia, or down across the border. Then, we'll just put up US flags and hope no one notices.

Pick

2011-12-19 07:03:52 AM

I cannot believe how stupid some of you are. I thought most of you were college students.

It is a proven FACT that lowering taxes increase revenue to the government. How? Bone up on your history to find out, Mr. Ivy League Guy.

Debeo Summa Credo

2011-12-19 07:05:28 AM

I dont know where to start with this thread. The "communists were sabotaged guy"? How bout the "reset to zero wouldn't be any worse than right now" guy?

Anyway, you are all morons. Monkeys flinging shiat at each other in the zoo have a better grasp of global economics than you guys. Thanks for the laughs on a Monday morning.

The_Time_Master

2011-12-19 08:32:26 AM

Somaticasual: Blairr: [i399.photobucket.com image 366x480]

Is that the old Canadian flag??? (far right)

We made it into Commie propaganda?!

GO TEAM!!!!

Maybe, but only as a wingman. The US really needs that comparison to reflect our "style"..

//just kidding. But seriously, we'll annex you canadians eventually. The working plan is to send palin screaming down, fully naked of course, forcing a retreat into either canada's version of siberia, or down across the border. Then, we'll just put up US flags and hope no one notices.

images.wikia.com

War. War never changes.

Goimir

2011-12-19 09:39:03 AM

A lot of this stuff ends tomorrow if people can agree on an alternate currency, especially one that cannot be purchased but rather earned.

Bob16

2011-12-19 11:33:30 AM

"The fundamentals of our economy are strong" - Grandpa McCain

TyrantII

2011-12-19 11:43:37 AM

winterwhile: 7of7: The IMF has no credibility. All it's good at is holding countries hostage and forcing them to adopt a shiatty American style economy that benefits only the wealthy.

that crappy USA economy gives at USA peasant $10,000 more to spend at crappy Walmart than the European economy gives its peasants

lets go for a european one... shall we? and we all can be poor.

EU peasants make $0? Makes sense. They make 15,000 Euros.

Seriously though, this sounds like it's going to turn into "they can buy cheap electronic toys argument". When the real question is how has the affordability of property, housing, transportation, education and medical care done in relation to wages.

Here's a hint, you're nifty job isn't buying as much as it used and on any scale of measurement that includes them you're poorer than your grandfather who could afford top notch new stuff in his era. Yeah you can buy a iPhone or a xbox, but because of inflation and huge decreases in production cost, it be like buying a newpaper subscription in the 1930. IE, it's irrelevant.

urban.derelict

2011-12-19 08:10:09 PM

ontariolightning: Something big has to happen in 2012

2012.12.21

/they do not forgive
//they do not forget

apeiron242

2011-12-19 09:23:32 PM

They know this because THEY WILL CAUSE IT. Just like the banks CAUSED the great depression in a power grab.

Debt based money is EVIL.

i don't mean "bad policy" i mean EEEEEEEVIL. The fru-its of the dev-il.

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