Pay attention to IMF’s track record

Dean Baker wants us to remember that the International Monetary Fund tends to fly blind — a useful reminder given the IMF’s attempts to involve itself in U.S. budget discussions. Here is his post:

The Washington Post ran an article highlighting warnings about the budget deficit from the International Monetary Fund (IMF). It would have been helpful to inform readers that the IMF completely missed the $8 trillion housing bubble, the collapse of which collapsed the U.S. economy, leading to the worst downturn since the Great Depression.

This background would be helpful to readers in assessing the importance of the IMF’s warnings.

We should listen to what Baker has to say.

Author: hankkalet

Hank Kalet is a poet and freelance journalist. He is the economic needs reporter for NJ Spotlight, teaches journalism at Rutgers University and writing at Middlesex County College and Brookdale Community College. He writes a semi-monthly column for the Progressive Populist. He is a lifelong fan of the New York Mets and New York Knicks, drinks too much coffee and attends as many Bruce Springsteen concerts as his meager finances will allow. He lives in South Brunswick with his wife Annie. View all posts by hankkalet