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Australian economic commentators are…

Posted by Adrian on April 15, 2008

…on a whole are living in a journalistic fantasy land or are smoking crack or both. Not even worth analyzing their comments,

“The important point right now is that the IMF knows this — and it still believes it’s not going to put much of a dent in the real world global economy. Yes, the United States will go into recession, and Europe and Japan will see their growth halved. But the world can grow without them — and that is what the IMF predicts it will do.”

He seems to forget the present (global) economic killers are the deteriorating credit markets and expensive interbank rates, that the consumers are suffering from (high costs), mixed with inflation and collapse of asset values.

Jeez the IMF are playing catch up with economical global issues (which are happening faster than statisticians can keep up) and we rely on their forecasts? “Mild US recession”? Yet they (IMF) say this,

“The financial market crisis that erupted in August 2007 has developed into the largest financial shock since the Great Depression”

Contradiction and deceptive advice.

Make up your own mind.

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2 Responses to “Australian economic commentators are…”

  1. shelly welly said

    Hi im doing a report on australia right now and I nedd to kinda know like the sum of all the economy in austrailia so canu sum it up in like 5 or 6 sentences?

  2. shelly welly said

    Hi im doing a report on australia right now and I nedd to kinda know like the sum of all the economy in austrailia so canu sum it up in like 5 or 6 sentences?

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