Submitted by Tyler Durden on 10/08/2012 - 20:25 International Monetary Fund Recession World Economic Outlook
undefinedWhile the exquisitely tanned replacement of former IMF head and Sexcapade-extraordinare DSK, Christine Lagarde, who may or may not have nationalized the entire UV-tanning light inventory of CNBC's Fast Money show, is very much aware of what the latest fashion in leather jackets or what the most fashionable plumage of pret-a-porter Hermes sweaters of the Fall season is, she sadly has absolutely no insight into what the actual contents of the IMF's most watched semi-annual report are, as confirmed by the following exchange between her and an Irish Examiner journalist, that has to be seen to be believed. Critically, not only is it clear that Lagarde has not read the WEO report but the section that IE's Ann Cahill asks about brings up a critical systemic problem in the IMF's over-estimation of growth forecasts in a world of increasing fiscal consolidation - an asymmetric fiscal multiplier.
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http://www.zerohedge.com/news/2012-10-08/imfs-lagarde-unaware-what-imfs-market-moving-report-contains
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