Saturday, 7 September 2013

IMF Around the World this Week (ending 6 September 2013)

These are the matters the global inflationist IMF dealt with this week according to their websiteClick each link for details. 


Of note this week, me being a Norwegian, was their assessment of the Norwegian economy. I must first point out however that we do not need an assessment by the IMF, it's none of their business. It's also a waste of tax payer money. But since they've done it, they correctly point out the elevated house prices and the high household debt in Norway (see here for some links). However, their recommendation of "reducing the tax advantage of residential investment" to address a overheated property market made me see red. The overall tax burden is already sky high in Norway! If anything, improving the tax advantages for other investments should be advocated. Credit created through fractional reserve banking is of course something the IMF does not address. Not to mention high salary growth pushed through by labour unions and the socialist government (here). These inflationist activities affect house prices too you know.

Finally, there was yet another statement from Lagarde advocating a supportive monetary policy "where appropriate" - even though she has absolutely no clue whatsoever what effect it has or does not have on an economy (read her Jackson Hole speech here). In her statement she also said that "International taxation is another area where the Fund will be actively engaged". Reducing tax evasion and avoidance must be a likely plan here I take it, i.e. more taxes. The (western) world does not need more central planning, and certainly not global central planning. It's about time the IMF learns a little about free markets. And that more people learn about the undemocratic central planning activities of the IMF.

September 06, 2013 
September 06, 2013 
September 05, 2013 
September 05, 2013 
September 05, 2013 
September 05, 2013 
September 05, 2013 
September 04, 2013 
September 04, 2013 

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