Alan Kohler is one of Australia’s most experienced commentators and journalists. Alan is the founder of Eureka Report, Australia’s most successful investment newsletter, and Business Spectator, a 24-hour free business news and commentary website. He also hosts Inside Business, a half-hour Sunday programme on the ABC, is the finance presenter on the ABC News - and producer of the nightly graph (or two).
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Comments on this article
Comments PolicyThe world is on the brink of a massive recession and debt correction and Lagarde seems to have no plan or idea what to do (See Join hands for a global recovery, September 28).
Does she intend to replace the US dollar with a SDR?
Who shorted the market two days ago?
Is Italy broke?
When will Greece default?
The IMF is a bailout fund with hard assets, gold. Will the IMF sell gold to bail out Italy?
1. Put off action to reduce budget deficits but be very convincing that this time you mean to do it in the "medium term"
2. Reduce household and other debt by, presumably, forcing lenders to accept a haircut and refinance bank equity
3. More jobs for the young, presumably by job creation schemes
4. Shift action to the private sector - but not just yet!
5. Building a euphemism for increasing taxes
Total bankruptcy of ideas other than exacerbating the measures that have got us to where we are (See Join hands for a global recovery, September 28).
I feel a better start would be to wind up the IMF.
The reality is that Australia must develop an economic loop, using our superannuation (See Join hands for a global recovery, September 28).
Philosophising about the EU debt crisis is interesting, but futile.
The US blames the EU for not getting its economic house in order – wow! That is reprehensible coming from a terminal economy.
Australia must look at the EU and the US and say 'we do not want to take their advice'. No please do not advise us - because some fool might listen.
This is economic warfare, lets build a few trenches and keep them out.
Best of luck Ms Lagarde (See Join hands for a global recovery, September 28). If you can manage to guide EU members through this train-wreck then you will have done much to repair the past errors of the IMF and their
World Bank funders.
Sorry, I am person that will not be joining hands (See Join hands for a global recovery, September 28). I did not join in the great debt binge and spend of the past two decades or more so I am not interested in helping out those who did, even if it means the end of things as we have known it.
I think the IMF does not have a clue why it has all happened. They just say too much debt, without asking why is there is too much debt.
Growth has stopped and will not return because energy has stopped increasing. Financial people think money makes the world go round. I'd say it is energy.