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(It’s not satire – it’s the IMF!)

On Thursday, the head of the International Monetary Fund, Christine Lagarde, said the fund had changed its stance about George Osborne’s austerity strategy because it was clear it wasn’t working.

Changed its stance? I’m not quite sure the IMF got the right turn of phrase there.

Probably what the IMF actually meant to say was this:

“Our previous consistent and wrong public support for the UK chancellor George Osborne’s extreme austerity drive as part of his deficit reduction strategy was made before we realised just how amateurish, bungling, floundering, inept and useless we were at economics. In other words, we’re just a bunch of over-paid, incompetent inadequates who haven’t a clue about how to run an economy. Sorry about that.”

Much more accurate, I think you’ll agree.

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The (Real) Definition Of Credit Ratings From AAA to Junk Status….

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