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IMF chief warns of new Great Depression
EU Observer ^
| 16.12.2011 @ 09:29
| Valentina Pop
Posted on 12/16/2011 10:31:50 AM PST by Olog-hai
International Monetary Fund (IMF) chief Christine Lagarde has warned the Great Depression of the 1930s may repeat itself unless the EU pulls together and gets foreign help. Fresh unemployment statistics added to the gloom by highlighting the social cost of austerity.
If the international community does not work together, the risk from an economic point of view is that of retraction, rising protectionism, isolation. This is exactly the description of what happened in the Thirties and what followed is not something we are looking forward to," Lagarde said in a speech delivered to the US State Department on Thursday (15 December).
She said eurozone countries "obviously" need to make "adjustments" in order to overcome the debt crisis, but also appealed to non-European donors, just one day after the US Federal Reserve said it had no plans in contributing to a eurozone bailout.
(Excerpt) Read more at euobserver.com ...
TOPICS: Business/Economy; Crime/Corruption; Culture/Society; Foreign Affairs
KEYWORDS: depopulation; depression; economy; globalism; imf; trade
1
posted on
12/16/2011 10:31:54 AM PST
by
Olog-hai
To: Olog-hai
She is talking to the wrong people. Fly back to Euroland and make your pitch there. Sounds like they aren’t taking the medicine and are about to revolt. The politicians have finally created an insolvable problem of unwinding the welfare state.
2
posted on
12/16/2011 10:35:41 AM PST
by
Oldexpat
To: Olog-hai
We should donate. Donate the high honor of the UN offices vacating NYC and setting up shop anywhere in Western Europe. How about Spain? I like the wine. UN people like to whine too.
3
posted on
12/16/2011 10:35:50 AM PST
by
Made In The USA
(This post may be recorded for quality purposes.)
To: Olog-hai
History will repeat.
Depression
War between Germany and Russia.
4
posted on
12/16/2011 10:36:09 AM PST
by
PALIN SMITH
(In a time of universal deceit, telling the truth is a revolutionary act.)
To: Olog-hai
Send us money or we invade Poland again!
5
posted on
12/16/2011 10:38:09 AM PST
by
silverleaf
(common sense is not so common- voltaire)
To: Made In The USA
I have an old Monopoly game. I could send her a million or so if that would help.
6
posted on
12/16/2011 10:38:44 AM PST
by
bgill
(The Obama administration is staging a coup. Wake up, America, before it's too late.)
To: Olog-hai
Correct me if I am wrong, but didn't they claim all of the central bank interventions and stimulus spending and bailouts averted a Great Depression?
Why after over three years are we still tetering on the edge of the same precipice?
7
posted on
12/16/2011 10:39:26 AM PST
by
dirtboy
To: Made In The USA
Forget Spain,I hear that South Africa is nice...
8
posted on
12/16/2011 10:47:04 AM PST
by
Farmer Dean
(stop worrying about what they want to do to you,start thinking about what you want to do to them)
To: Farmer Dean
I hear that South Africa is nice... I'm thinking more along the lines of Khartoum or Abuja myself.
9
posted on
12/16/2011 10:50:54 AM PST
by
Lurker
(The avalanche has begun. The pebbles no longer have a vote.)
To: dirtboy
Correct me if I am wrong, but didn't they claim all of the central bank interventions and stimulus spending and bailouts averted a Great Depression?
That's what they say
Why after over three years are we still tetering on the edge of the same precipice?
Theyfaithful members of the Church of John Maynard Keyneswill tell you that the stimulus spending and bailouts weren't big enough and that governments didn't act fast enough to roll them out. So of course the prescription is that we need more.
10
posted on
12/16/2011 10:52:57 AM PST
by
Utmost Certainty
(Our Enemy, the State | Gingrich 2012)
To: Olog-hai
just another Euro having a visceral reaction to the thought of austerity
To: Olog-hai
” IMF chief warns of new Great Depression “
No, you can’t have a new one until you’ve finished the one you’ve got...
And, go wash your hands!!!!
12
posted on
12/16/2011 11:08:42 AM PST
by
Uncle Ike
(Rope is cheap, and there are lots of trees...)
To: Uncle Ike
Given that the US is more indebted than they, I would suggest that it’s up to the EU to cover their own debts.
13
posted on
12/16/2011 11:25:58 AM PST
by
BenKenobi
(Honkeys for Herman! 10 percent is enough for God; 9 percent is enough for government)
To: Olog-hai
Druing the greta depression, around
12 million Americans died of starvation. About 7 million city folk and 5 million farmers.
Don't listen to what they wants, listen to what they are saying and prepare.
14
posted on
12/16/2011 11:32:24 AM PST
by
SENTINEL
(Romney is to Conservatism what Mormonism is to Christianity.)
To: All; Olog-hai
If the international community does not work together..." How are all the nations of the European Economic Union unable to cope with the financial crisis of a few member states?
15
posted on
12/16/2011 11:43:56 AM PST
by
newzjunkey
(Republicans will find a way to reelect Obama and Speaker Pelosi.)
To: Olog-hai
Give ‘em a few hundred tons of US dollars to inflate our currency, then start manufacturing and exporting more from the USA. ;-)
16
posted on
12/16/2011 12:16:16 PM PST
by
familyop
("Wanna cigarette? You're never too young to start." --Deacon, "Waterworld")
To: Olog-hai
Fresh unemployment statistics added to the gloom by highlighting the social cost of austerity.Steaming pile.
17
posted on
12/16/2011 12:21:51 PM PST
by
central_va
( I won't be reconstructed and I do not give a damn.)
To: Olog-hai
There they go again....”Isolation and Protection”. Spoken like a true Free Trader Communist
Free Trader’s cannot grasp that internationalism does not work. If you need an IMF to keep Free Traders and Free Trader nations from going broke....it does not work.
I will take Isolationism and Protectionism over Free Trader support of the UN, EU, IMF, World Bank, NAFTA, WTO..anyday.
God, I am tired of my American tax dollars going to failed Free Trade Communist Globalist organizations
18
posted on
12/16/2011 2:37:16 PM PST
by
RealImmigrant
(National Security begins at the Border)
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