Wednesday, April 22, 2009

It is much worse

The International Monetary Fund (IMF) has presented new alarming figures and the world economy is expected to shrink. What the idiots at IMF and journalists don’t tell you is that the real numbers are much much worse than those being presented. I could show you numbers and we could do some counting exercise, but all you really need to know is that even if IMF is closer to the truth than politicians, they are still idiots and we are all completely and utterly fucked beyond all comprehension.

This is from the financial Times and please remember, also these guys are in reality not counting the whole picture and are way too much on the positive side:

For more than a year, the IMF’s loss estimate has swollen with each update. As late as October, it expected losses on US loans and securities of $1,400bn; it now foresees losses almost twice that size, at $2,700bn. In addition, it has now added forecast losses of $1,200bn in Europe and $150bn in Japan.

The ballooning numbers reflect two important facts. We have no certainty whatsoever as to what the real losses will eventually be – except that they get worse every time we look. Last year’s gloomiest forecasts have proved far too optimistic.

Have you still not started buying candles and dried up food packages? Might wanna get going on that…

1 comment:

  1. Don't worry, the banking elite is going to use IMF for world financial domination. They are going to save us by printing money that will inflate away the deficits. Except the newly print money will add to the deficits. Oh, who cares anyway. See you on the barricades when the revolution starts (you may bring your drink and deck chair).