The IMF, Which Missed the $8 Trillion Housing Bubble, Warns About the Deficit

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Friday, 28 January 2011 07:56

The Washington Post ran an article highlighting warnings about the budget deficit from the International Monetary Fund (IMF). It would have been helpful to inform readers that the IMF completely missed the $8 trillion housing bubble, the collapse of which collapsed the U.S. economy, leading to the worst downturn since the Great Depression.

This background would be helpful to readers in assessing the importance of the IMF's warnings.