imc indymedia

Los Angeles Indymedia : Activist News

white themeblack themered themetheme help
About Us Contact Us Subscribe Calendar Publish RSS
Features
latest news
best of news
syndication
commentary


KILLRADIO

VozMob

CopWatch LA

ABCF LA

A-Infos Radio

Indymedia On Air

Dope-X-Resistance-LA List

LAAMN List





IMC Network: www.indymedia.org africa: ambazonia canarias estrecho / madiaq kenya nigeria south africa canada: hamilton london, ontario maritimes montreal ontario ottawa quebec thunder bay vancouver victoria windsor winnipeg east asia: burma jakarta japan korea manila qc europe: abruzzo alacant andorra antwerpen armenia athens austria barcelona belarus belgium belgrade bristol brussels bulgaria calabria croatia cyprus emilia-romagna estrecho / madiaq euskal herria galiza germany grenoble hungary ireland istanbul italy la plana liege liguria lille linksunten lombardia london madrid malta marseille nantes napoli netherlands nice northern england norway oost-vlaanderen paris/Île-de-france patras piemonte poland portugal roma romania russia saint-petersburg scotland sverige switzerland thessaloniki torun toscana toulouse ukraine united kingdom valencia latin america: argentina bolivia chiapas chile chile sur cmi brasil colombia ecuador mexico peru puerto rico qollasuyu rosario santiago tijuana uruguay valparaiso venezuela venezuela oceania: adelaide aotearoa brisbane burma darwin jakarta manila melbourne perth qc sydney south asia: india mumbai united states: arizona arkansas asheville atlanta austin baltimore big muddy binghamton boston buffalo charlottesville chicago cleveland colorado columbus dc hawaii houston hudson mohawk kansas city la madison maine miami michigan milwaukee minneapolis/st. paul new hampshire new jersey new mexico new orleans north carolina north texas nyc oklahoma philadelphia pittsburgh portland richmond rochester rogue valley saint louis san diego san francisco san francisco bay area santa barbara santa cruz, ca sarasota seattle tampa bay tennessee urbana-champaign vermont western mass worcester west asia: armenia beirut israel palestine process: fbi/legal updates mailing lists process & imc docs tech volunteer projects: print radio satellite tv video regions: oceania united states topics: biotech
printable version - js reader version - email this article - view hidden posts - tags and related articles

Never mind! IMF now says austerity mistakes don’t matter

by Systemic Disorder Thursday, Jan. 10, 2013 at 10:03 AM

IMF paper says damage wrought by austerity much greater than expected, but it should continue anyway.

It did seem too good to be true. The International Monetary Fund last week issued its second paper in three months acknowledging that the damaging effects of austerity measures on economies is much stronger than previously assumed. Unlike October’s quiet admission of error, however, this time IMF researchers say colossal miscalculations don’t matter.

Perhaps the IMF is taking back the bureaucratically couched, quiet mea culpa it genteelly issued last October? Being an orthodox economist evidentially means never having to say you are sorry. It does mean that if reality doesn’t match the theory, then it is reality that must be changed.

Readers may recall that in October 2012 the IMF slipped into its World Economic Outlook, in which it forecast that the global economic growth rate would continue to decline, this interesting line: “Public spending cutbacks and the still-weak financial system [are] weighing on prospects.”

That is as close to an admission as we are likely to receive from the IMF, the World Bank or other financial institutions that the austerity that they relentlessly impose weakens economies. Perhaps some at the IMF are getting cold feet at such an admission, or, more likely, such ideologically inconvenient pronouncements received more attention than expected given the tepid language buried in an otherwise routine paper.

To continue reading, please go to http://wp.me/p2cpPS-46.
Report this post as:
Share on: Twitter, Facebook, Google+

add your comments


Local News

Jane Fonda Divests From Wells Fargo J03 8:27PM

LA Solidarity Protest Rally For Japanese American Apparel Workers Who Face Loss D16 1:49PM

Architect Chris Mercier Unveils Mural in Rogers Park, Inglewood D16 9:13AM

Peace Vigils D15 8:20PM

Standing Rock Solidarity Action D11 9:59PM

Large Turnout for Dakota Pipeline Protest N16 3:35PM

NODAPL N15 2:24PM

Cruel Teacher Taunts 6th Grade Kids, Fired N12 8:47PM

How Cities Can Protect People Threatened By Trumpism N12 8:17PM

What ThisMeans, How This Happened, What to Do Now N12 5:03AM

PROTEST TRUMP TONITE N11 2:55PM

Westside Thanksgiving for everyone in LA ! N11 12:36PM

FOR A WORLD WITHOUT NUCLEAR RISKS   N10 5:05AM

Non-violent protest ideas; hooch bomb recipe N09 7:42AM

Nuclear Shutdown News October 2016 N05 6:17PM

State Legislature is where it's at N03 10:16PM

Tom Hayden on The Unfinished Business of Democracy O28 4:49AM

Video: Tom Hayden, Listen Yankee! 2015 O25 10:56AM

Art About Privilege Censored on Facebook O23 3:16AM

SAG-AFTRA video game performers on strike O22 11:04PM

Stop Circus Animal Suffering – Protestors Urge Audiences to Shun the Wild Animal Circus O20 3:04PM

KPFK LSB statement on DAPL arrests O19 10:25AM

Transit Dependent Residents Need a Guaranteed Right to Stay O15 11:36PM

My letter to JJJ on JJJ O11 12:33PM

Prop 60, Condom Law O10 12:43PM

KPFK-Pacifica Radio Archives being sold off on ebay? O10 10:31AM

KPFK struggles without re-solutions O07 2:25PM

Problems with Measure M O05 5:24PM

More Local News...

Other/Breaking News

Obituary - Robert George Tronge J20 12:07PM

De l'éducastration chattemite J19 10:15PM

The Shortwave Report 01/20/17 Listen Globally! J19 5:33PM

"Trump does not read much" J19 1:28PM

Important Discoveries J18 6:50PM

#J20 CalArts in SoCal Plan Walkout; NY Galleries & Nonprofits Plan Art Strike J18 5:25PM

FBI's "Suicide Letter" to Dr. Martin Luther King, Jr., and the Dangers of Unchecked Survei J18 5:10PM

Camp 120 Will Hold Space in Front of City Hall Until Inauguration Day to Protest the Inac J18 5:03PM

Teamsters Local 2010 Initiates Mass Walkout and Strikes at University of California J18 4:12PM

Civil Rights Groups Sue Caltrans to Stop Illegal Raids Against California's Homeless J18 4:05PM

This Week in Palestine, January 13th, 2016 J18 3:44PM

Littératie ou numératie ou La loi J18 4:14AM

Nurses Storm The Boulevard To Pressure Trump on the ACA J17 4:49PM

Nurses Storm The Boulevard To Pressure Trump On the ACA J17 3:12PM

Gangstar New Orleans Hack J16 6:18PM

All Government Officials can be Sued for Actions Outside their Authority – Robert Tronge J16 12:36PM

The Effectiveness of Sex Offender Treatment Programs – Robert Tronge J16 12:32PM

Inevitable Conclusion J15 7:48PM

Trump and the Consequences: Democracy at a Crossroads J15 9:07AM

Nuclear Shutdown News January 2017 J14 8:17PM

Honduras coup update December 2016 J14 6:06PM

Evidence that fbi corrupts all of society at will J14 4:15PM

Intellectuels d'élevage, intellectuels de batterie, intellectuels industriels J14 8:03AM

Paraphysique de virologie politicienne J12 10:58PM

The Shortwave Report 01/13/17 Listen Globally! J12 5:23PM

Code Pink on the temple Mount J12 8:36AM

The Civilization Crisis: Post-Factual Criticism of Politics J12 6:43AM

L'enterrement de la liberté d'expression J11 10:23PM

More Breaking News...
© 2000-2003 Los Angeles Independent Media Center. Unless otherwise stated by the author, all content is free for non-commercial reuse, reprint, and rebroadcast, on the net and elsewhere. Opinions are those of the contributors and are not necessarily endorsed by the Los Angeles Independent Media Center. Running sf-active v0.9.4 Disclaimer | Privacy