Wednesday, September 07, 2016

IMF Says There Must Be Real Reform  
Or There Will Be Disaster
"The International Monetary Fund (IMF) has warned at the G20 summit ... refusal to reform how things are functioning will lead to economic weakness .. As demands rise concerning social inequalities in many countries, this tends historically to only lead toward more regulation and protectionism. In the end, this is the expected knee-jerk reaction from politicians only creating a negative downward spiral to the detriment of free trade .. The EU decision to retroactively change the tax code of Ireland and the Apple deal, is a death-blow to the global economy. If that policy was employed in the USA, you cannot imagine the total chaos that would be unleashed. The European Commission is trying to create a total dictatorship .. Structural reforms are vital at this point to prevent a real economic depression ... In countries with still weak demand, the IMF is advocating that both monetary and fiscal policy should intervene more to promote growth. But bureaucrats are far too disconnected from the economy to ever manage things correctly. To them, they never see a 'free market' economy, only one to be manipulated to perform as they think it should be – never reality. The bureaucrats historically attempt to force their will upon the markets and that has always resulted in complete disaster .. The economic warning signs of a major slowdown in growth are appearing now on a global perspective from China and Japan to North American and Europe. ... There is little doubt that ..... is the canary in the coal mine providing a clear visible sign of a new economic Depression is looming on the horizon."
- Martin Armstrong
link here to the reference

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