OK boys and girls. Its that time of the year. You know which one i mean. No, not easter egg time, that was last week. It’s IMF total cost of crisis estimation time. Yep. 4,1 trillion mulah. Now, i know that most of you are bored and actually don’t read this shit so here’s a little inside joke included in the link above:
“In its Global Financial Stability Report, the IMF said U.S. institutions were about halfway through their needed write-downs”
NO, not that, it’s the title of the report that’s the funny part, the other one, not so funny.
2 comments:
I quote from today's NYTimes on the same topic: "That estimate is up from $2.2 trillion in the fund’s interim report in January, and $1.4 trillion last October." So, basically we are looking at a seasonal rather than an annual event. No need to pay any special attention; by July we will be at $6 trl give or (mostly) take...
Riiiight! now i understand the full picture. As you say no need to worry or pay special attention. (although the rate of the upward revision seems to point to a flaw in the spreadsheet of the IMF excel monkey)
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