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IMF Orders The Markets Down By 20%
REUTERS is reporting that the IMF’s chief economist Olivier Blanchard has said:
“In a worst-case scenario, governments will need a few more weeks to take the correct measures and the markets could fall another 20 percent. Then, we’ll turn around,”
(Image: Beau Bo D’Or Website)
Just when you think that the IMF couldn’t get worse, they come up with an act of such utter imbecility that I am almost at a loss for words.
It’s a self-fulfilling prophecy that just about guarantees that the markets will fall at least another 20%, not in the next few weeks but next week…
- Chenier
Goodbye, Cruel World - The IMF’s Suicide Note
Gordon Brown’s Solid Gold Joke
Posted: 11th, October 2008 | In: Money | Comment | Follow the Comments on our RSS feed:RSS 2.0
Comments
October 11th, 2008 at 11:56 pm
A 20% drop might be an optimistic prediction. Then we can really start laughing.
October 12th, 2008 at 5:18 pm
Sarkozy is laughing already!
http://news.bbc.co.uk/2/hi/business/7665729.stm
Maybe he knows something we don’t.
October 12th, 2008 at 5:19 pm
Sarkozy is laughing already!
news.bbc.co.uk/2/hi/business/7665729.stm
Maybe he knows something we don’t.
October 12th, 2008 at 5:21 pm
Oh damn, the BBC changed the picture…
This was it:
http://newsimg.bbc.co.uk/media/images/45101000/jpg/_45101225_-15.jpg
October 12th, 2008 at 5:21 pm
Oh damn, the BBC changed the picture…
This was it:
newsimg.bbc.co.uk/media/images/45101000/jpg/_45101225_-15.jpg
October 12th, 2008 at 5:35 pm
That is a deeply evil picture, Jack, but at least our Gordon is looking gloomy.
The rumour is that at least 2 UK banks will be partly nationalised tomorrow, which may or may not have something to do with the auction on the Lehman Brothers credit default swaps on Friday. One estimate of the amount payable on them is $270 billion.
And the possibility of exchange controls, which would be mind boggling were it not for the fact that the free flow of money around the world has come to a juddering halt, probably as a result of the free flow of money around the world…
October 12th, 2008 at 5:41 pm
I hope Gordon was just saying “I loved your wife’s last album”.
October 12th, 2008 at 5:43 pm
Good thought; unfortunately I think it was more likely to be a request to borrow some money…
October 12th, 2008 at 5:52 pm
I think we can confidently predict the biggest rally or the biggest crash ever tomorrow…or both at the same time, which should be fun.
October 12th, 2008 at 5:56 pm
Well, the markets do indeed go up as well as down, but following the input of the IMF’s chief economist I somehow doubt that there’s going to be much rallying.
Unless it’s the kind which involves getting in a car and driving very fast…
October 12th, 2008 at 7:38 pm
Crashes during rallies can be pretty spectacular, involving many beep-words from the guy who reads out the directions. “Oh, sorry Gordon, that should have been “hair-pin bend coming up”, not “go straight on”.
October 13th, 2008 at 12:02 pm
Has Gordon done it? Has he really saved the world? Find out next time on…Super Gordie…
October 13th, 2008 at 12:07 pm
Hero of the Universe, Supreme Arbiter, President for Life, seeks bodyguards.
Skills in fat cat handling would be a bonus…
October 13th, 2008 at 12:12 pm
He’s gone from being the world’s most boring man (10 years running) to being one step away from being elected world king. He’ll be hoping for more crises before the next election….
http://www.private-eye.co.uk/pictures/covers/full/1220_big.jpg
October 13th, 2008 at 12:24 pm
Nice one, Jack.
And not bad going for Brown, either, zero to hero. Remember the
‘This Is Not The American Plan’?
Incidentally, I stole your picture of Brown and Sarkozy; it’s in the Forums under
Gordon Brown asking for a loan?
And a couple of other pictures there which might amuse…
October 13th, 2008 at 3:57 pm
I’ve tried registering to the forum twice, with no joy. My name was rejected the first time, the second time nothing happened. I sense a conspiracy by Them to keep me out….
——
M&A
Artemis
I’ll take a look, Jack.
October 13th, 2008 at 4:13 pm
Jack
You should be able to log into the Forums now.
October 13th, 2008 at 4:22 pm
Cheers, I’ll have a try.