IMF’s Lagarde: US Fiscal Cliff Key Global Risk

July 30, 2012 By 10 Comments

The IMF’s Christine Lagarde stated Thursday that the number one global risk was not the Euro-zone debt crisis, but rather the ‘looming US fiscal cliff‘.
Lagarde’s statement went unreported in the US as it slices open everything MSM MOPE continually attempts to obfuscate by continually harping on the Euro-crisis.
The US is Greece Times 100.

LONDON (MNI) – The looming US fiscal cliff is the number one risk globally at present, followed by the Eurozone and then the threat of another oil price surge, IMF head Christine Lagarde says.

Lagarde, speaking at the Global Investment Conference here, said the Eurozone is clearly at the epicentre of the crisis right now but is far from the only risk at present.

“Risk number one … is clearly the fiscal cliff in the United States of America, where the deficit and debt to GDP ratios are actually worse than in the Eurozone,” she said.

Although the US does not face the Eurozone’s challenge of trying to secure accords with a host of states, its legislators are also struggling to take action.

“There is great uncertainty as to how Congress is going to actually deal with this fiscal cliff,” she said.

If the US does go over the cliff it could have an initial contractionary effect on growth of 1 percentage point, the IMF estimates.
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Comments

  1. Avatar of SILVERKING16 SILVERKING16 says:
    July 30, 2012 at 7:45 PM

    I swear my confidence with my phyzz silver position grows by the minute just sitting here reading articles on this site. Love ya Doc   :)

  2. Avatar of JerryMatt JerryMatt says:
    July 30, 2012 at 8:07 PM

    I love how she say,”IF the US goes over the finacial cliff”

    WE ARE OVER THE CLIFF!! PERIOD and Don’t make any mistake about it! It’s called 16 soon to be 20TRILLION in DEBT.  Game Over, USA zero…China 1, clear the board, want to play again?

  3. Avatar of PatFields PatFields says:
    July 30, 2012 at 8:28 PM

    NONE of these elites is SAYING that the banknote monetary scheme is immanently doomed to self-destruction … but their actions speak LOUDER than their prattle. I offer the millions of ounces of silver fleeing the bullion banks as clear evidence.

  4. Avatar of UglyDog UglyDog says:
    July 30, 2012 at 8:57 PM

    Christine Lagarde receives her IMF salary tax free.  How do you think that revelation has been sitting with people struggling in Europe?

  5. Avatar of NetRanger808 NetRanger808 says:
    July 30, 2012 at 10:49 PM

  6. Avatar of Ed_B Ed_B says:
    July 30, 2012 at 11:24 PM

    “There is great uncertainty as to how Congress is going to actually deal with this fiscal cliff,” she said.

    My guess is that they will continue to fiddle-fart around with it until the system nearly collapses again and then they will funnel VAST sums of unearned money into their bankster buddies accounts to “save” the banking system.  Different day, same B$.  :-(
    “I offer the millions of ounces of silver fleeing the bullion banks as clear evidence.”
    Allow me to suggest that the day is coming when we, the stackers, will be the bullion banks.  ;-)
    “How do you think that revelation has been sitting with people struggling in Europe?”
    About as well as putting a known tax cheat in charge of the IRS?
  7. Avatar of AGXIIK AGXIIK says:
    July 31, 2012 at 2:19 AM

    LaGard is a grifter of the first order. Her tax free salary puts her above the little people who have to pay taxes, making her some sort of tax queen.  Her utterances betray her true values.  As for the fiscal cliff that looms over us.  Get a clue Christine.  The cliff you face is 3 times as steep.  After flying around the world with your IMF begging bowl, sniveling for a few  hundred billion in  bailout funds to dole out to your banker buddies, you think you can shift the blame for your messes to the US.  Not today sweetheart.  We have plenty of problems but your Euro issues won’t disappear by trying to make us out as the main fall guy in this drama.  Get your own house in order before you start making pronouncements.

  8. Avatar of inlikeflynn inlikeflynn says:
    July 31, 2012 at 8:01 AM

    “IF” “IF”  ?????????????When When!!!!!!!

  9. Avatar of inlikeflynn inlikeflynn says:
    July 31, 2012 at 8:04 AM

    clip_image001

  10. Avatar of robertsgt40 robertsgt40 says:
    July 31, 2012 at 9:55 AM

    It doesn’t make any difference who goes over the cliff first(US/EU).  Since we’re jointen at the hip thru the incestuous Rothschild relationship, whoevers a$$ goes over the cliff the other hip is attached.

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