Friday, April 17, 2009

It’s the unprecedented steps which are going to cause the ‘greatest depression’

IMF warns over parallels to Great Depression

''The International Monetary Fund has warned of "worrisome parallels" between the current global crisis and the Great Depression, despite the unprecedented steps already taken by central banks and governments worldwide. This recession is likely to be "unusually long and severe, and the recovery sluggish," said the Fund, releasing two advance chapters from its World Economic Outlook. However, it warned there is a risk that it could spiral down into a full-blown slump unless further action is taken to stop "feedback effects" gathering force.''

Posted by hpwatcher @ 09:00 AM (775 views)
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3 thoughts on “It’s the unprecedented steps which are going to cause the ‘greatest depression’

  • Meanwhile, the Bank of England is confident that its ‘Zimbabwe Model’ stimulus package will yield results soon and end the recession:

    http://news.bbc.co.uk/1/hi/business/8003626.stm

    With the Bank of England’s recent track record of managing the economy prudently, I know who I’m listening to.

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  • Is this the same IMF that was super-bullish on the world economy in mid 2007?
    The IMF has a political agenda that requires inaccurate forecasts.
    The crash has to be unexpected, so their bailout is welcomed with open (albeit desperate) arms.

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  • general congreve says:

    IMF liars with their false gold selling announcements to suppress the price of real money etc. etc.. Can’t trust a thing they say, all part of the same corrupt cabal that is running the show.

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