Skip to comments.The IMF Is Sleepwalking Into Another Global Economic Catastrophe
Posted on 04/13/2014 6:39:05 AM PDT by blam
The IMF Is Sleepwalking Into Another Global Economic Catastrophe
PHILLIP INMAN, The Guardian
Apr. 12, 2014, 7:22 PM
The complacency is palpable. Despite some dire warnings about risky trading and the threat posed by overly indebted banks, the mood last week at the International Monetary Fund's spring conference was one of calm.
We have turned a corner since the financial crisis, the Washington-based organisation says. Normality is returning. And this will mean establishing normal interest rates (up from 0.5% in the UK to 2%-3%, according to Mark Carney), restoring normal inflation and generating steady growth in the west of 2%-3%.
Officials expect the US to lead the way. As consumer-in-chief, it will propel the world economy and global growth much as it has in the last 60 years. The dynamism of the US economy and its huge capacity to buy stuff will make life better for everyone, goes the rather tired argument.
The legacies of the crash will be disposed of quietly. Having spent north of $3 trillion pumping funds into its economy and maintaining the cheapest borrowing costs in more than 100 years, the US central bank will find a way to sell this money back to the market, while at the same increasing rates, without much more than a ripple disturbing the markets.
(Excerpt) Read more at businessinsider.com ...
In an updated report released today, the International Monetary Fund reduced its forecast for global GDP growth to 3.6% in 2014 and 3.7% in 2015.
This is down from 3.7% and 3.8%, respectively, which were the estimates published in January
Don’t kid yourself. The insiders are busily salting away fortunes in numbered accounts all over the world. They will benefit. You will not.
Sleepwalking? Or, wide awake criminally plotting fiat currency collapse to pave the way for a more pliable glowBull currency, glowBull politics and something more for the UN. Something someone like Cronkite would be proud of.
Don’t worry, these computer games have back doors where the techs can manipulate any kind of result they want. It’s not like back in the days when economies and wealth were real.
As long as they’ve got someone to blame it on, it doesn’t matter what they’re “sleepwalking toward.”