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Author Topic: Oops! Our Bad! IMF Director Admits “We Printed too Much Money”  (Read 583 times)

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Offline Hoodat

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Oops! Our Bad! IMF Director Admits “We Printed too Much Money”
« on: April 28, 2022, 09:26:29 pm »
Oops! Our Bad! IMF Director Admits “We Printed too Much Money”

MICHAEL MAHARREY  |  APRIL 27, 2022

Mostly we get lies, spin and obfuscation from central bankers, politicians and bureaucrats. But every once in a while, one of these people accidentally wanders into the truth.

IMF Director Kristalina Georgieva did just that during a recent panel discussion hosted by CNBC. She conceded that central banks globally “printed too much money and didn’t think of unintended consequences.”

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.”

How this economic brain trust missed failed to consider that injecting trillions into the economy would cause prices to rise is a bit of a head-scratcher. This is economics 101.  .  .  .

https://schiffgold.com/commentaries/oops-our-bad-imf-director-admits-we-printed-too-much-money/
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If a political party does not have its foundation in the determination to advance a cause that is right and that is moral, then it is not a political party; it is merely a conspiracy to seize power.     -Dwight Eisenhower-

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Offline Kamaji

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Re: Oops! Our Bad! IMF Director Admits “We Printed too Much Money”
« Reply #1 on: April 28, 2022, 10:11:34 pm »
Good lord these people are obtusely stupid.
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Online roamer_1

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Re: Oops! Our Bad! IMF Director Admits “We Printed too Much Money”
« Reply #2 on: April 28, 2022, 10:18:37 pm »
Buh-DUH.

But, it' bullcrap anyway, or the ports and factories would be swinging wide-open and gas and oil would be pumping fools... Because even by their 'theory', what fixes this would be more goods.

More goods ain't happening. Because THEY are messing with the supply chain, preventing goods.

So printing money and stopping goods can only mean they are purposefully trying to crash it.
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Offline libertybele

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Re: Oops! Our Bad! IMF Director Admits “We Printed too Much Money”
« Reply #3 on: April 28, 2022, 10:26:11 pm »
Quote from: roamer_1 on April 28, 2022, 10:18:37 pm
Buh-DUH.

But, it' bullcrap anyway, or the ports and factories would be swinging wide-open and gas and oil would be pumping fools... Because even by their 'theory', what fixes this would be more goods.

More goods ain't happening. Because THEY are messing with the supply chain, preventing goods.

So printing money and stopping goods can only mean they are purposefully trying to crash it.

Exactly right!
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Offline Hoodat

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Re: Oops! Our Bad! IMF Director Admits “We Printed too Much Money”
« Reply #4 on: April 28, 2022, 11:44:49 pm »
Quote from: roamer_1 on April 28, 2022, 10:18:37 pm
So printing money and stopping goods can only mean they are purposefully trying to crash it.

Just wait until some oil emergency occurs, only to find out that there is no oil left in the Strategic Petroleum Reserve.
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If a political party does not have its foundation in the determination to advance a cause that is right and that is moral, then it is not a political party; it is merely a conspiracy to seize power.     -Dwight Eisenhower-

"The [U.S.] Constitution is a limitation on the government, not on private individuals ... it does not prescribe the conduct of private individuals, only the conduct of the government ... it is not a charter for government power, but a charter of the citizen's protection against the government."     -Ayn Rand-

Online DB

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Re: Oops! Our Bad! IMF Director Admits “We Printed too Much Money”
« Reply #5 on: April 29, 2022, 12:27:50 am »
"Wealth" out of thin air... What could go wrong...

The left just keeps getting more and more disconnected from reality and then wondering what went wrong...
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