Thursday, October 18, 2007

End of Global Growth?

Turmoil could cause a global credit crunch, IMF warns

"The world economy remains at serious risk of suffering deeper turmoil in financial markets that could trigger a severe global downturn, the International Monetary Fund (IMF) said yesterday, as it sharply cut forecast growth in key economies next year." Simon Johnson, the IMF’s chief economist insits: "The world economy has entered an uncertain and potentially difficult period. The financial turmoil of August and September threatens to derail what has been an excellent half decade of growth.”

Posted by peter @ 11:46 AM (821 views)
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3 thoughts on “End of Global Growth?

  • its hard to add value in response to some of these comments.

    I mean the words “morons”, “idiots”, “clowns”, “incompetent”, “losers”. Doesn’t seem to add much to the debate.

    On the other hand it is almost impossible to resist responding to them.

    If one more person comes out with the assertive: “Nobody could have seen that coming.”

    “Nobody” I assume is a new noun for “Almost everybody” and has taken on a Terry Pratchett like personality.

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  • I think all this ecomomic navel gazing is a waste of time. They don’t know what’s going to happen any more than you or I.
    Anyway, what’s the point of ‘an excellent half decade of growth’ if people’s disposable income in this country has gone down over that time? Something is wrong somewhere, probably the economic data is all crap. Bring on the crisis- we might be better off.

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  • Cyril I agree we have had an excellent 5 years of economic growth corresponding to an excellent 5 years of debt growth, now a Brownie point if anybody can see a correlation between the two.

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