This Is How The IMF Just Lost Its Last Shred Of Credibility

http://www.zerohedge.com/news/2015-06-03/how-imf-just-lost-its-last-shred-credibility

Ron Paul Dismisses Boehner’s Dollar-for-Dollar Debt-Cut Demand

http://www.bloomberg.com/news/2011-06-03/ron-paul-dismisses-boehner-s-dollar-for-dollar-debt-cut-demand.html

Republican presidential candidate Ron Paul dismissed House Speaker John Boehner’s call for spending cuts to match any increase in the federal debt ceiling. A fiscal catastrophe is coming whether or not the country exhausts its borrowing power, he said.

“I don’t take it seriously,” the Texas congressman said of Boehner’s demand. Paul predicted Congress would “go up to the last minute” before the Aug. 2 deadline and then raise the nation’s $14.3 trillion legal debt limit, yet fail to solve the problems underlying the nation’s soaring deficits.

“The catastrophe comes regardless, because as long as they encourage more spending, then we go over a cliff,” Paul said in an interview for “Political Capital with Al Hunt,” airing this weekend. “So I want to stop us,” said Paul, who said he will vote against raising the limit.

“I think there will be a credibility gap” for the other contenders, Paul said, responding to a question about potential primary opponents including former Massachusetts Governor Mitt Romney.
Voters “know that I’m leveling with them, and I’ve done it all along, and I’ve expressed these concerns for 20, 30 years,” he said.

Paul, an advocate of abolishing the Federal Reserve, said while he doesn’t expect other candidates to rally around the idea, they “won’t laugh as much as they did last time” he ran for the Republican presidential nomination.

“Just think of the difference on the attitude of the people now about the Federal Reserve,” Paul said, noting that Fed Chairman Ben Bernanke took the unprecedented step April 27 of holding a news conference to defend his policies. “It’s a failed system, and people are starting to realize this.”

Geithner Downgrades His Credibility to Junk: Jonathan Weil

http://www.bloomberg.com/news/2011-04-20/geithner-downgrades-his-own-credibility-to-junk-jonathan-weil.html

Bank of England attempting inflation 'confidence trick', says former MPC member Kate Barker

http://www.telegraph.co.uk/finance/economics/8304054/Bank-of-England-attempting-inflation-confidence-trick-says-former-MPC-member-Kate-Barker.html

Ms Barker, who served nine years on the Bank's Monetary Policy Committee (MPC), said rising prices may have already damaged the Bank's credibility and threaten a "more profound" loss of faith among the public.

A loss of credibility is dangerous as people begin to assume inflation will remain over target and so put up wages and prices accordingly, resulting in a self-perpetuating spiral of rising prices.

"If you believe inflation is going to come back to 2pc, you are going to behave as if that's going to happen when you're setting wages and setting prices," said Ms Barker.

"Once you start to think this monetary policy isn't all that it's cracked up to be, and things need to be changed in some way, then things inevitably become more difficult."

She added: "It's like a confidence trick."

Obama faces growing credibility crisis

http://www.ft.com/cms/s/0/434315b2-8ea6-11df-8a67-00144feab49a.html

“If you ask me where the silver lining is for President Obama, I have to say I cannot see one,” says Bill Galston, a former Clinton official, who has been predicting for months the Democrats could lose the House. “Just as BP’s failure to cap the well has been so damaging, Obama’s failure to cap unemployment will be his undoing. There is nothing he can do to affect the jobless rate before November.”

“The bottom line here is that Americans don’t believe in President Obama’s leadership,” says Rob Shapiro, another former Clinton official and a supporter of Mr Obama. “He has to find some way between now and November of demonstrating that he is a leader who can command confidence and, short of a 9/11 event or an Oklahoma City bombing, I can’t think of how he could do that.”

Say what? Also, how appropriate is it that Rahm Emanuel is resigning as Obama's Chief of Staff today. His former quote:

"You never want a serious crisis to go to waste."

Good luck, Chicago. You will need it. And for the rest of America: hold on to your hat.