IMF Chief Lagarde to Europe: Lighten Up on the Austerity

By: Thursday October 11, 2012 6:19 am

IMF managing director Christine Lagarde has been in the “stop the austerity” camp for a little while now, but this was perhaps her most explicit statement yet on the policy that’s gradually killing off Europe’s economy. Ms Lagarde, IMF managing director, cautioned against countries front-loading spending cuts and tax increases. “It’s sometimes better to have [...]

IMF’s Lagarde, Who Chided Greece for Tax Evasion, Doesn’t Pay Taxes

By: Tuesday May 29, 2012 10:55 am

Here’s a nice postscript to Christine Lagarde’s attack on the Greek people for their problems. You remember that Lagarde said she didn’t sympathize with Greeks as much as she did, say, African children, because Greeks got themselves into their own mess by not paying their taxes. This has a kernel of truth, as the Greek [...]

Foreclosure Horror Story: Woman, Daughter With Cerebral Palsy Evicted

By: Friday April 13, 2012 8:13 am

This is about as outraged I’ve seen a straight news article get about the foreclosure crisis, with particular scorn reserved for Bank of America. Dirma Rodriguez had five minutes to gather her things and vacate the West Adams house she and her severely disabled daughter had lived in for more than 25 years. As a [...]

Regression to the Mean: Elites Start to Recognize Failure on Jobs

By: Monday August 29, 2011 2:14 pm

It’s been amusing over the past several days to watch so-called “credible” people come around to where us dirty hippies have been on the economy for going on two years. For instance, Nick Kristof (who admittedly has other pursuits) suddenly figured out that persistently high unemployment may be a problem: I’ve spent a chunk of [...]

Growth Stalls Throughout the Eurozone, Even in Germany

By: Tuesday August 16, 2011 11:30 am

The European Central Bank’s interventions in the bond markets to arrest the soaring yields from Spanish and Italian debt appears to have worked, for now. The ECB was extremely aggressive in buying debt, enough to drop the yields at least a full point. But the fact that core Europe was so threatened shows the risks [...]

Emerging Markets Stymied At Getting IMF Managing Director Position

By: Friday May 20, 2011 7:05 am

The fight over the future of the IMF’s managing director is a proxy fight about the power and importance of emerging markets versus the old guard. The US could have boosted emerging markets and broken with the past, but as part of the established order, they stuck with it. The fund’s six-decade tradition calls for [...]

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