Monday, December 15, 2008

sounds painful

Annus Horribilis Peaks in Anxiety for Global Economy

The world economy has “suffered a cardiac arrest,” says Mohammed El-Erian, co-chief executive officer of Pacific Investment Management Co., the Newport Beach, California-based manager of the world's biggest bond fund. The damage is so immense and widespread, the most central banks and governments can hope for next year may be to stop the deterioration and set the stage for recovery in 2010. Failure may heighten the danger of deflation and near-depression

Posted by mark @ 12:17 PM (589 views)
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One thought on “sounds painful

  • When the Queen said she had a Annus Horribilis i felt awfully sorry for her and hoped she’d get it seen to by the royal physician.

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