Ivan Canas: IMF admits 'free market' policies are a failure!. Please read the 'more info' section to know why.

Olivier Blanchard, the chief economist for the International Monetary Fund, confirmed on Wednesday that the world economy is facing a major downturn, but added that the chances of it sliding into another Great Depression were nearly nil. But what does he mean by 'nearly'? So is there a chance to go down?

We project that growth in advanced countries will be very close to zero or even negative! until at least the middle of 2009," said Blanchard.

And then he admits in an oblicuous logic way the unthinkable that 'FREE MARKETS' ARE A FAILURE when he said almost ( almost? what does is mean by almost?) sure that the world wont see another Great Depression. "The sense of urgency that markets are basically making extremely clear is going to force governments to basically adopt fairly coherent plans in the very near future. Under that assumption ( so it is a hope) I believe that the risk of a Great Depression is nearly nil," he stressed.

In a way without saying it straight forward Blanchart admited 'FREE MARKET' IS A FAILURE, because you can infer and deduct from his words that it is the governments around the world who are trying to do their best to sort out the MESS that the Banks created.

And he lies...the world is going into a depression.

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[ivancanas63]

hahaha good one greatestfool87!! That is why I put: 'free market'

[ivancanas63]

divinacomedias: Spot On!!!

[adm1ackbar]

i hate these arrogant imf nwo power hungry war profiteering monsters!!! the free market didn't fail, it was never even allowed to exist!! it is such flaming propaganda to blame the problems on the "free" market!! we live in a world of Corporatism and heavily managed and manipulated economies... end the imf and world bank!!

[tuntitommosille]

Oh, so free market policies have failed, have they? Could you tell us where this laissez-faire system has been implemented, because I must have completely missed it.

[vaguelyhumanoid]

How is governments giving money to other governments "free market"?

[beancube2008]

People in IMF still implements single point of failure for all of us. We all know layering implementations allows multiple accesses of connected resources. Why would they be superstitious about monopolies? 1. Laziness (actually they shouldn't be in management at all) 2. Afraid of people (they are not sensitive enough for the needs of people). You can hear a lot of their job explanation, but they don't really know what people want. What next corruption will they create? Repeated fail auditions.

[beancube2008]

IMF needs to be broken up into a lot more small groups for decisions. Their over centralization in favorite of monopolies fails to reflect demands. They needs major reform.

[robotzorro]

And now all the capitalists are just flet out admitting that capitalism doesn't work. But we gotta stick with it, because otherwise, y'know, socialism.

The corporations and banks are no better than the Mafia. "Nice global economy you got here. Be a shame if something happened to it."

[robotzorro]

And 'we' did not create the financial crisis. The corporatists and bankers did. Too bad all your schemes blew up in your face. But don't worry! The governments will bail you out with taxes from honest wokring people! Gotta keep the rich on top! Too bad there's less tax money now that everybody is out of work.

Isn't it funny that the biggest defenders of capitalism are the first ones to go running to the government begging for a hand out when run into any trouble?

[robotzorro]

"Oil and commodity prices have shot up."

Oh shit! How did that happen? Oh yeah! We've been using non-renewable resources like there's no tomorrow, so now nobody can afford to fill up their giant SUV and drive it 3 blocks to buy a 5 dollar cup of coffee at Starbucks!

Gee, I'm sure glad we didn't make our economy TOTALLY FUCKING DEPENDENT on shit like that! Oh wait. We TOTALLY DID!

[borntobelegend]

ivan im so glad your on the left god bless you