Galt's Gulch

UK Rallies After Austerity- IMF 'We Got It Wrong'

Posted by khalling 11 years, 5 months ago to Economics
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When Lagarde was asked if she would apologize for remarks made against the austerity measures, she replied "Do you want me to get on my knees? " Meanwhile UK is enjoying a 2.9% growth
SOURCE URL: http://mobile.bloomberg.com/news/2014-06-08/lagarde-says-imf-got-it-wrong-on-rallying-u-k-economy.html

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  • Posted by Lucky 11 years, 5 months ago
    Two possible misconceptions
    1. That the recent UK budgets here described as 'austerity' have been in any sense Austrian/frugal- in fact government expenditure and income has grown, albeit moderately.
    2. That the IMF is good for nothing, good for a laugh surely? Thanks kh.
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    • Posted by Abaco 11 years, 5 months ago
      Yeah. "Austerity" has a nice sound to it. They can call the next step "honesty" or something similar and really force frugality on the citizens.
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  • Posted by Abaco 11 years, 5 months ago
    It will take more than just "investment and consumption". Anybody guess what's missing from that comment?...anybody?....

    A nation has growth that is near inflation and people comtemplate getting on their knees. LOL!
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