Unlike Marxian economists, IMF economists are far more likely to understate how bad things are economically. But in this 30-minute talk, the speaker argues that when the IMF comes out with their report in less than two weeks, we will find their projections to be worse than expected. Just some of the characteristics of this report are that unlike other economic crises, this crisis is affecting the economy of every single country. Secondly, there is a global, not just a local lockdown because of the pandemic that is affecting human services as well as manufacturing. Lastly, the stock markets around the world are not reliable indicators of the crisis as they are widely fluctuating.
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