„Only A Catastrophy Will Bring a Change“

CommentOpinion ♦ Published: January 21, 2014; 21:33 ♦ (Vindobona)

Bestselling author Marc Friedrich criticizes the IMF sharply and thinks that the Basel III framework is “ridiculous”. The U.S. monetary policy is “doomed to failure”.

„Only A Catastrophy Will Bring a Change“ / Picture: © Vindobona.org


Friedrich has serious doubts about the IMF´s economic forecasts. In an interview with the Austrian daily “Wirtschaftsblatt”, Friedrich attacks the International Monetary Fund. According to Friedrich, the IMF is everything but credible. “What has happened in 2008? Economists have promised GDP growth rates of 4%. And what did we get? There was a dramatic recession. These…