![]() |
![]() |
||
|
IMF Sees an Even Deeper RecessionPosted on Apr 22, 2009
A shrinking global economy has many at the International Monetary Fund worried, as economists project that 2009 will see a decline of 1.3 percent in world economic output—the first global recession since World War II.
Advertisement Elsewhere: . CommentsAre you a Truthdig member yet? Login now, or register with Truthdig. Add Your Comment
|
A Progressive Journal of News and Opinion. Editor, Robert Scheer. Publisher, Zuade Kaufman.
Copyright © 2009 Truthdig, L.L.C. All rights reserved. |
By KDelphi, April 25 at 5:46 pm #
I dont mean to be lazy, but, Folktruther nailed it again. How long ago was this suggested? HOw could we be any worse off now than what we are? Well, as long as the “middle class” is still reasonably comfortable we will not get any action. I hate that it has to come to genuine suffering of the majority , before things will change and , by then, it is too late..but, as long as Dems keep throwing the poor and working classes under the bus, they will get, eventually, what they deserve. Too bad so many will have to die first.
Bubble economics. Treasonous Capitalism.
Report thisBy Folktruther, April 23 at 5:47 pm #
An historic decline of the West. While this is happening in the West, China’s ‘recession’ has bottomed out at +6%, their stimulus isworking. The difference is that China government owns the banks while in the US and the West, the banks own the government. The state can therefore plan a market economy not only for China, but for its surrounding allied countries.
the solution in the US is as simple as it is politically impossible: nationalize the banks. But Americans have been taught by the learned and mass media and other truth organs owned or in other ways controlled by the ruling class that government ownership of the banks is Despotism. And since the ruling class owns the Dem-gop parties as well, the only alternative is for the population to transform their ideological worldview of Free Enterprise and unite against their corrupt and obsolete power struture.
But such a historic transformation takes historical time, and the near term future is not bright.
Report thisBy GW=MCHammered, April 23 at 11:14 am #
(Unregistered commenter)
Anyone wanna guess what ‘their’ next ‘crisis’ will be? Water shortage? Disease? Another terror attack? All of the prior? Of course ‘they’ will ‘save’ us ... all at our expense.
Report thisBy thoughtwright, April 23 at 4:24 am #
(Unregistered commenter)
Some economic activity produces misery,
and some happiness, leisure, contentment.
GDP and trade numbers are a mix of both.
Please, you economics reporters, split the
numbers, because misery-making and
happiness-making are separate accounts, and
do not cancel each other, except that in a
particular individual happiness may make
misery bearable.
Report the GDP components that promote
happiness in separate accounts from those
that promote misery.
Then we will understand better what needs
to be done, and what should cease.
To bemoan GDP losses due to disappearance
of war expenses during universal peace
would be inhumane and stupid.
To bemoan GDP losses due to people’s
valuing unpaid time more than more
possessions would be stupid.
Please, journalists, think, and don’t
Report thisbe party to the stupidity.
By samosamo, April 22 at 6:09 pm #
Of course the imf claims the loss. They, being one of the masters of the global financial disaster, wouldn’t want is any other way because they are the ones making money on all that money they pass out just like the federal reserve does, interest charged for every dollar used to loan, bailout and stimulate economies and all that interest goes right into the ‘elite’s’ pockets.
Amazing how these financial terrorists just keep getting away with this ponzi scheme of grand larceny and the people just let them keep doing it. All it would take is to rise up against the imf, world bank, central banks and all those money laundrying centers and shut them down. This then should be considered those ‘elites’, that .0001% of the world population, who are gathering all the money and riches unto themselves.
Report thisBy G.Anderson, April 22 at 4:21 pm #
Everything thats happened since February is just a psy op.
We’re kept hoping that we’ll be saved by the stimulus package..
But after this one is gone there will be another…
and after that another, to keep us living in the future..
But what about today?
Hope is the narcotic of the moment.
Report thisBy scared, April 22 at 3:33 pm #
And I bet they’ll re-adjust that figure again at the end of the next quarter.
The future looks grim. No bubbles left to prop up the economy this time I guess, huh? I survived a 400 person layoff yesterday. I’m not confident about the next one.
Report this