IMF: ’World Economy Could End as We Know It ...’
Source: thedailybell.com
Christine Lagarde: "2013 Will Be Make or Break" Christine Lagarde, managing director of the International Monetary Fund, cautioned at the World Economic Forum in Davos that Europe must continue to guard against a relapse in 2013. Speaking at an event honoring women leaders hosted by Credit Suisse in partnership with Newsweek and The Daily Beast, Lagarde was joined by Egyptian human rights activist Dalia Ziada, who discussed the challenges women face in the Middle East. "2013 will be a make or break year," Lagarde said. "2012 was tough. A lot happened in Europe, a lot happened in the U.S. and there is clearly a lot happening in Asia." – The FinancialistDominant Social Theme: If we don’t make it in 2013, the world as we know it will disappear.
Free-Market Analysis: While this speech was made a while ago at Davos, we think it is worth noting as Ms. Christine Lagarde is enunciating a significant dominant social theme – that the West is surely destined to perish if savvy officials don’t make the proper decisions.
The West is in terrible trouble anyway, economically, most from the decisions of this self-appointed elite that has used central banking as a weapon of creative destruction. Having obtained the awesome power of money printing, elites printed too much of it, probably on purpose, and thus crashed economies first in the US and then in Europe.
Now, Ms. Lagarde indicates (and surely she will repeat this meme) that the same mechanism and leadership that brought us to our current situation are to be entrusted with critical decisions in 2013.
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