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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Lucretius who started this subject9/20/2000 6:08:21 PM
From: NOW   of 436258
 
Did maria go to work for the IMF?
PRAGUE, Czech Republic -- Surging oil prices and the sinking euro are rattling markets, but the International Monetary Fund predicted yesterday that the world economy could demonstrate better growth this year than it has in more than a decade.

"Economies also should improve at healthy rates in 2001, led by the powerful U.S. expansion, more growth in Europe and a continued recovery from the Asian financial crisis of 1997-98, the IMF said in its latest World Economic Outlook.

The IMF predicted the global economy will grow by 4.7 percent this year, a 0.5 percentage point increase from the last such prediction in May.

That would match growth last recorded in 1988."

But seriously, I was in asia in late spring 1998 when within two or three days the change in the news being printed was dramatic: went from very pessemistic to bullishly optimistic overnight shortly after a G7 meeting. The rapidity of the change had me amazed. Shortly thereafter, the markets began a steady rise.
I don't want to sound like this was a press conspiracy, but I think some lessons in crowd control may have been shared:

we are seeing them now:
1.Deny what is partently obvious to everyone (ie inflation)
2. Use doublespeak at all times. Say the oposite of what you mean.
3. Increase the tint in the rose glasses quickly.
4. Begin to lay blame at others feet subtly.
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