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IMF says Euro will survive 2012; global growth forecast lowered
The Euro is likely to survive 2012 despite the debt crisis in the Euro currency zone, according to International Monetary Fund Managing Director Christine Lagarde. Read full article
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Disclaimer & comment rulesWell, that's OK then, when have the French ever been wrong about the Euro?
Jan 08th, 2012 - 06:52 pm - Link - Report abuse 0Oh! I forgot - ALL THE FCUKING TIME.
the sooner we get our referedum the better .
Jan 08th, 2012 - 08:30 pm - Link - Report abuse 0Christine Lagarde is not “the French” but a highly esteemed expert on national and international economy.
Jan 09th, 2012 - 02:26 pm - Link - Report abuse 0ChrisR, I seem to be missiong something, so please guide me to your books and articles of national and international economy.
List of titles:
3 St.John
Jan 09th, 2012 - 04:07 pm - Link - Report abuse 0“Previously, she held various ministerial posts in the French government: she was Minister of Economic Affairs, Finances and Industry and before that Minister of Agriculture and Fishing and Minister of Trade in the government of Dominique de Villepin. Lagarde was the first woman ever to become minister of Economic Affairs of a G8 economy, and is the first woman to ever head the IMF”. Take one guess who made sure she got appointed: YES, the little frog himself.
You know what they say about economists: put 6 in a room and you get 12 'view' and no decisions.
I was on the board of a GEC company under Lord Weinstock. Took the required training in accountancy and management accounts and then economics. What a laugh the last one was. As a scientist I would NEVER have been allowed the wishy washy nonsense that came out of that waste of time.
I also put my money on what I decide is worth backing. 2010 & 2012 were very good on gold coins in the UK. In 9 months I had an annualised return of 26.7%. All the economists were extremely downbeat on gold at the time, but you know one thing? None of them ever seem to put their money where their mouth is. I wonder why?
I take a number of daily financial reports, especially contrarian ones, because if you follow the herd you will be too late in any investment.
I used to take the Economist but got fed up of their 'it might be this or it might be that' sitting on the fence approach.
Reading books on economics is no substitute for reasoned thinking.
So I take it that you think the Euro has been correctly managed and will be the future? I disagree.
So I guess we will have to see who of us is correct won't we?
I fail to understand, why you jump to the conclusion that I believe that the Euro has been correctly managed and will be the future.
Jan 09th, 2012 - 08:53 pm - Link - Report abuse 0The Euro has been mismanaged even before its start, as the politicians had “visions” and did neither then nor later react to e.g. Eurostat's reports on the individual countries, based on an idiot idea of including as many countries as possible in the Eurozone, whether they fit or not, also dropping the idea of a control board to keep the economies of the individual countries fenced in.
The Euro has been mismanaged from before its very start and still is, but the strength of the German economy, and to a lesser extent the French, can most likely keep it afloat for another year.
Economy is an art form, always has been, always will be.
It isn't and cannot become a science, as there are too many parameters, including individual investors whims, imaginative fears, etc. Just about any rumour can start an upturn or an avalanche.
Even if we connected all supercomputers in the world and used them for calculation of international - and this goes for even a single nation's - economy, their output would be worthless, because the span in possible outcomes would be so wide, that it would cover almost any imaginable scenario. Every single economy “school” has its own silly ideas and disregards the others' insights.
You brown flamingo, shut up!
Jan 09th, 2012 - 10:03 pm - Link - Report abuse 05 St. John
Jan 10th, 2012 - 01:24 pm - Link - Report abuse 0“I fail to understand, why you jump to the conclusion that I believe that the Euro has been correctly managed and will be the future.”
Very simply put: your challenge to my original post, though I am pleased to see that we do broadly agree what a disaster the Euro has been.
Economy is an art form, always has been, always will be.
Art forms portrayed as science (as the FED tries to do among others) cannot be taken seriously. Also, as it is an 'Art Form' why does reading any book on economics by anyone lead me to understand the art form any better (as you seem to think).
So I will continue to 'put my money where my mouth is' and leave all economists to continue to delude themselves and any other weak minded individuals who want to follow them.
ChrisR, I challenged your broad “when have the French ever been wrong about the Euro”
Jan 10th, 2012 - 02:47 pm - Link - Report abuse 0It is not a question of “the French” but a qualified economist.
8 St. John.
Jan 10th, 2012 - 03:38 pm - Link - Report abuse 0She is French: fact.
She is a qualified economist: fact.
Economists cannot see the future any more than you or I-you put your money where your mouth is if you are in the real world: fact
Zarkozy ensured she got the appointment: fact
Merkozy's utterances have been shown to be utter rubbish so far in respect of the Euro: do you disagree?
So, what if anything, do you believe when this French woman speaks (other than she genuinely believes what she says)? That is where it is all going to fall apart.
These people, The French Woman, Bernancke, et al. have ALL been wrong so far. AND that was all I said in my first post.
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