Abstract :
IMF forecasters, and also those of the OECD and the U.S. government are and have
never been right, as demonstrated by comparison between their published [also their internal
un-published?] estimates and subsequent real world events. They have always been overoptimistic,
because over-optimism is built in-to their estimation mechanisms, if only because
political economic reasons mandate them to avoid any realism and make un-realistic
prognoses that are meant to act as self-fulfilling prophesies, which are also designed to
maintain political support for their continued existence. The IMF -which de facto is an arm of
the US Treasury Dept but is not accountable to anyone other than the US Treasury - does
have some power to make prophesies that are in part self-fulfilling for American and some
other big business interests by sinking currencies, economies and income especially in the
''Third'' and now also the former ''Second'' world at whose costs the economies in the First
world - that yes is first but in another sense - rest much of their own relative prosperity.
Keywords :
OECD , IMF , US , Overstretch