Mish/ Mike Shedlock – Christine Lagarde, IMF Chief, Warns US About Short, Medium, And Long-Term Problems; Like All Keynesian Clowns, Lagarde Does Not Want To Deal With The Present – 22 September 2012

For a brief moment, I almost thought Christine Lagarde, head of IMF, gained control of her senses.

The Telegraph headline IMF chief Christine Lagarde says US needs to rein in its banks is the illusion that briefly (very briefly) led me astray.

Not to fear, in the end, Lagarde proved in spades that she is the same Keynesian clown as before. Let’s take a look where she makes sense, and doesn’t.

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