Posted on 04/26/2022 8:08:35 AM PDT by Red Badger
"We printed too much money and didn't think of unintended consequences"
- IMF Director Kristalina Georgieva pic.twitter.com/X7FfBCLOMC
— Crypto India 🔑 (@CryptooIndia) April 22, 2022 Kristalina Georgieva, director of the board of the International Monetary Fund (IMF), said the following during an event hosted by CNBC on Thursday:
KRISTALINA GEORGIEVA, IMF: I think we are not paying sufficient attention to the law of unintended consequences. We take decisions with an objective in mind and rarely think through what may happen that is not our objective. And then we wrestle with the impact of it.
Take any decision that is a massive decision, like the decision that we need to spend to support the economy. At that time, we did recognize that maybe too much money in circulation and too few goods, but didn't really quite think through the consequence in a way that upfront would have informed better what we do.
(Excerpt) Read more at realclearpolitics.com ...
The only reason they’re admitting anything is because they’ve lost control of their “great reset“ to Russia and China who saw an opportunity to step in and take over in the chaos that they themselves caused
Unbelievable stupidity. Anyone who has taken ECON 101 at their local community college knows exactly what the outcome would be. These are the same people who think they have to be in total control because we of the great unwashed are too stupid, uneducated and greedy to manage our own affairs, We are being ruled by morons
The billionaire plutocrats intentionally hire managing morons.
They don’t anyone asking too many questions...
Well duh…and you are supposed to be experts in all thinks economic…c’mon man…
Here’s a suggestion to the geniuses at the IMF. Next time you contemplate doing something like this, ask someone who has had even one basic economics class what the possible ramifications will be. Listen and you might learn something.
Someone didn’t read their Bastiat in college.
Yup. One look at Macron, Biden, Merkel and poster boy Justin Tredeau proves it beyond any shadow of a doubt
The IMF prints nothing, so is this “we” she is talking about?
That must be Hunters kid throwing out Sloppy Joes’s 10%. LOL
When I was at a (big name) college many decades ago I was irritated with the nonsense spouted by the Economics professor.
I walked up to him and asked him if he had read Ludwig Von Mises.
He said “who is that”.
What is particularly amusing is that the professor’s ignorance was not just ideological—one of the most famous leftist Economists of the day (John Kenneth Galbraith) knew exactly who Von Mises was, joking he was a “gift to America from the Austrian Hungarian Empire”.
The lower level leftists were just kept in the dark.
Yeah all this COVID money printing that has caused this inflation can be laid at the feet of Trump and Biden.
“We are being ruled by morons.”
Kakistocracy.
L
The consequences are known, and therefore intended. Printing new money dilutes its value, making all the economic indicators go up, leading ignorant people to believe that the economy is improving when it isn’t. And that is why they do it.
So, is she and rest of the IMF board going to immediately resign?
“WITHOUT THINKING”
THE LIFE BLOOD & MANTRA OF 98% OF ALL POLITICIANS.
What it has taken to kill hyperinflation in the past is the act of going to another, more stable currency supported by external resources - both Weimar Germany and Zimbabwe are examples - which we can't do if the hyperinflation is international. Nowhere to turn. Like Venezuela.
Interesting. Decades ago when I was in college, one of my favorite economics professors spent about one-third of a semester on the danger and destruction of “entrenched bureaucracies” - federal and state agencies filled with isolated, insulated morons, who were completely indifferent and unaware of the costs they burden the country with on a daily basis. He basically saw two factions - one that was willfully ignorant of the damage they inflict, and another that proudly and gleefully do so... it certainly explains why it is so difficult to dismantle and eliminate these institutions from the face of the planet.
Kristalina ...you had one job, and you f’d that up royally
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