* This article refers to The Wall Street Journal
JUNE 17, 2011, 3:53 P.M. ET
IMF Cuts Growth Forecast for Global Economy .
I understand how angry the IMF is due to the bad discipline of the EU fiscal policy and the retarded attitude of all national governments in this globe...! I believe the IMF should intervene into both monetary and fiscal policies of all over the world because the world economy has already become globalised. Economic regions in all over the world is now too contingent to avoid focusing on the global economic political censorship by the global financial institute...!
I assume that the IMF "wanted to expect" the USA and the EU to install the right policy as the IMF suggested. I guess, this does not mean the IMF miss forecast; the IMF crackdowned to say these economies will be endangered because they did not listen to what the IMF said! This is the way, the IMF always change the prediction. I have recognised that the IMF economic prediction is rather subjective than objective. But, I do not say it is a bad thing; it is a strong indicator of what the IMF judges. I have more faith in the IMF than any national sovereign any way...
Do you know who said we needed the IMF? John Maynard Keynes, and I support his idea! So, I am not a fundamental monetarist although the national sovereignty in all over the world should be abandoned. This is not due to the political ideological issue (J. M. Keynes was actually an economic pragmatist), it is the "accountability" and "responsibility" issue...! It is a "natural evolution" of economy! As economy becomes globalised and contingent each other, the market (Nature! Geometrical fact!!) needs a global mediator. I am not for a world government, but I am for a world financial liberalisation!!