Matthew Yglesias » IMF: Everything is Terrible

Jul 8th, 2009 at 5:26 pm

IMF: Everything is Terrible

Fun chart from the new depressing IMF forecast:

Among developed countries Germany is expected to take the biggest hit. Canada is in relatively good shape. If I were an incumbent U.S. Senator running for re-election in 2010 I would be terrified by these projections.

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20

Filed under: 2010, Economy,

20 Responses to “IMF: Everything is Terrible”

Chachy Says:
July 8th, 2009 at 5:50 pm
If you were running for re-election in 2010, you’d be terrified by numbers showing the economy improving dramatically from 2008-2010?
Ted Says:
July 8th, 2009 at 5:51 pm
First!!!

Hey, where is everyone? It’s just me and this boring, barely interpreted graph.
joel hanes Says:
July 8th, 2009 at 5:55 pm
If I read that chart aright, it shows the developed economies returning to postive year-over-year GDP growth right about now.

If I read the economic news aright, the IMF chart is wildly overoptimistic. I wouldn’t expect positive GDP growth in the first world until late 2010 at the very earliest.
TRIATHLON Says:
July 8th, 2009 at 5:57 pm
WHEN THE EMPIRE DOLLAR IS NO LONGER THE BASE LINE CURRENCY THE WORLD ECONOMIC SITUATION WILL TAKE AN UP TURN!!

THE PEACE IN OUR TIME TOUR!

(Pandora’s Box)

Here, we go again with the reset button, the turn the page back tour, Peace In Our Time! That phrase was used by Chamberlain, and no it was not Wilt the Stilt Chamberlain, for those American Educated, it was Prime Minister of The United Kingdom, Neville Chamberlain, just before World War II broke out. One article somewhere wrote that the Media Messiah Imperial President while in College wrote a college paper about someday the world would no longer have Thermo-Nuclear Weapons, but it may not be within his lifetime. Girls and Boys it will not be within the Messiahs lifetime or any other living human beings life time. That Genie is out of the Bottle and no one is going to get it back in, Pandora’s Box has been opened, when the first weapon was tested at Los Alamos they knew it was a mistake.

(Limiting Nuclear Weapons)

Limiting Nuclear Weapons, to what enough to destroy the world just a few dozen times instead of a few hundred, then there is the problem of all those that do have them and prepared to use them, The State of Israel against Iran, and Iran against the State of Israel, or Pakistan against India and India against Pakistan over Kashmir, or The Peoples Republic of North Korea against The Republic of South Korea, and the Empire as it is driven into a corner by the Empire. PLEASE, PLEASE, PLEASE DO NOT USE YOUR NUCLEAR WEAPONS, AND GIVE THEM TO THE EMPIRE! Like that is going to work. The only way the world community of nations can any longer back the Empire off from exporting the one thing it does export United States Marines is with Nuclear Weapons. We did not even get into the Peoples Republic of China.

(Tick-Tock On The Clock)

The real truth is we are within months of Black September II, a second Great Depression, you can not print money without it having some basis of value, and BiBi has no intention of sitting doing nothing as Iranian Centrifuges’ continue to spin closer to the reality of another Islamic Nation on the Islamic Crescent the Shi-ite Persian Republic of Iran, and a threat to the existence of the State of Israel. Biden, Powell, and others are beginning to speak up, the honey moon is over, long over and the reality of the situation is becoming clearer with each passing day. Black September II and Bomb, Bomb, Iran, are just Tick-Tock on the Clock away.

Russia Today Online Vote!

What will be the result of Obama`s visit to Russia?

16% : Breakthrough in US-Russia relations

9% : A win-win START agreement

32% : Groundwork for future development

43% : Leaves without fruit

TRIATHLON
water balloon Says:
July 8th, 2009 at 6:20 pm
Why does Matthew attract so many lunatic commenters?
TOM Says:
July 8th, 2009 at 6:28 pm
BECAUSE HE WON’T ADMIT THE TRUTH
Jeremy Says:
July 8th, 2009 at 6:33 pm
Chachy: I think MY says this because, while the economy may recover, the average person is not likely to see the benefits in time to start thinking things are going to be all right. They’d only remember everybody losing their jobs. At least, that’s the only way I can read this chart and jibe it with what MY’s said before (on elections and the economy).

I’m having a bit of trouble reading the numbers in the link. It looks like the US is projected to have a -2.3% change in 2009, but I can’t tell if that’s compared to 2008, or if their projections from before have gone down 2.3%. It’s early here and I’ve not yet had my coffee.
Jeremy Says:
July 8th, 2009 at 6:36 pm
Ah, looking at it again, the US is set to fall in 2009, then increase 0.8% in 2010. I don’t think that’s enough to keep up with population, so when population outstrips economic growth, each person’s slice gets smaller even though the pie as a whole is growing.

#6: Are you referring to the FEMA concentration camps, or the Soros-funded plot to create the Amero? It’s so hard to keep track of the conspiracies these days…
Duvall Says:
July 8th, 2009 at 6:46 pm
THE TRUTH IS OUT THERE, NOT IN HERE. GO OUTSIDE AND LOOK FOR IT.
Matt W Says:
July 8th, 2009 at 6:58 pm
NO THE TRUTH IS IN HERE

I ACCIDENTALLY PUT IT IN THE FRIDGE INSTEAD OF THE PANTRY
bbartlog Says:
July 8th, 2009 at 7:59 pm
You think that’s a *depressing* forecast? That forecast is quite optimistic – it basically assumes that the world economy is just going to neatly rebound to growth levels a little lower than we had around 2006, and that the advanced economies will be out of recession by Q4 2009.
Illuminati Says:
July 8th, 2009 at 8:00 pm
Secret society do exist.
Rich in PA Says:
July 8th, 2009 at 8:09 pm
Let me second the commenters who’ve noted that the chart is pretty darn happy. If someone offered you that chart, or what’s behind the curtain, you’d likely take that chart and be glad of it. That includes legislators running for re-election in 2010.
TRIATHLON Says:
July 8th, 2009 at 8:20 pm
BLACK SEPTEMBER II

Let me bust your water ballon! We are looking at the bottom falling out of the economy period. Why September, it has to do with the retail sales period leading up to the Holidays, after Labor Day, will retail sales look BAD, or will they cause yet another weight on an already sagging economy.

Why, remove the Empire Dollar as the Base Currency, a solid currency could be the bed rock currency to an over all recovery on a global scale, an a rising tide lifts all ships. Will the Empire Dollar be of less value YES! An imports will cost more driving the Empire to seek the alternative of making its own domestic products are a low cost, increasing jobs.

Now anyone can have a balloon for a head and water to fill it and form a round sphere, and made personal attacks but without a valid comment on what to do or why, you make your own call on that.

The Empire Dollar needs to be allowed to float against a Bed Rock Currency, and the Imperial Media Messiah President needs to understand the Geo-Spheres of Economic, Military, Political, and Social Order Exist the Empire is OVER!
cmholm Says:
July 8th, 2009 at 8:27 pm
Having looked at the chart, and RTFA for the source data, I disagree with MY’s conclusion.

Matt has previously linked to data strongly suggesting that voters are very myopic when election day comes. If things look better than they did during the fall of 2010 than they did during the spring, the bums will stay in office.
cmholm Says:
July 8th, 2009 at 8:29 pm
And, let me add that trolls need to relearn the KISS principle when cutting and pasting from wingnut websites.
I CONVINCE PEOPLE Says:
July 9th, 2009 at 7:48 am
To say KISS is only another personal attack. Why, there is no need to “keep it simple” when I am only quoting the truth and the sheer momentum of my sentences unencumbered by punctuation and other statist conventions carries my readers along irresistably toward conviction, you can make your own call about that.
stefan Says:
July 9th, 2009 at 8:25 am
Yes, that is one of the more optimistic forecasts out there. On the other hand, there is evidence that the IMF has no (incremental) skill forecasting and that its forecast are dominated by bank and other economist forecasts. Basically, the IMF is several months behind other forecasters. Big investment banks actually look the most skilled, even in their public forecasts, at least when I looked into this issue a couple of years ago.

I’d be happy if we get the the outcome the IMF forecast here.
Mattyoung Says:
July 9th, 2009 at 9:05 am
I notice the chart has economies rising faster than they declined. That is generally the opposite of what happens.
David Says:
July 9th, 2009 at 11:29 am
If I were an incumbent U.S. Senator running for re-election in 2010 I would be terrified by these projections.

If you were an incumbent U.S. Senator you either you’d pretend you didn’t know what the IMF was or you’d be raving about black helicopters. If you were an incumbent House member you wouldn’t know what it was, or you would be raving about black helicopters or interntional currencies.

Matt Yglesias

IMF: Everything is Terrible

20 Responses to “IMF: Everything is Terrible”

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