IMF to Put Argentina on Path to Censure Over Inflation Data

This is an example of two wrongs not making things right.

1) the Argentinian government is accused by the IMF of fudging their official inflation data.  Ummm, that's what governments do--lie about inflation--ALL governments, some better than others.

2) the IMF is just a cabal of banks, more interested in returns on sovereign debt they own--than the sovereignty of said countries (see Greece).  They want to maintain the status quo--the illusion of "riskless" returns on sovereign bonds which, in reality, are fraught with risk.

In essence, you have two corrupt organizations taking swipes at each other, with the less powerful one (Argentina) taking it in the shorts when it comes to raising capital in global markets.

The take away message is the US is Argentina on steroids, with debt levels orders of magnitude larger than any other country--in the history of mankind.

http://www.bloomberg.com/news/2012-09-18/imf-to-put-argentina-on-path-toward-censure-over-economic-data.html