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IMF Warns Western Economies Mired in 'Near Depression'
Newsmax ^ | October 03, 2010 | David A. Patten

Posted on 10/05/2010 12:00:34 AM PDT by RobinMasters

A new report by the International Monetary Fund paints a brutally grim picture of the global economic outlook, warning that continued European belt-tightening combined with possible deficit-cutting in the United States could lead to a global double-dip recession.

Ambrose Evans-Pritchard, international business editor of the Daily Telegraph newspaper, wrote that the report suggests Western economies are stuck in a "near depression."

In the near term, the report suggested, nations seeking to stabilize their economies by cutting their budgets will only make the global economy worse.

Evans-Pritchard reported the IMF analysis "more or less condemns southern Europe to death by slow suffocation and leaves little doubt that fiscal tightening will trap North Europe, Britain, and American in a slump for a long time."

(Excerpt) Read more at newsmax.com ...


TOPICS: Business/Economy; Constitution/Conservatism; Culture/Society; News/Current Events
KEYWORDS: crisis; economicmeltdown; obamanomics

1 posted on 10/05/2010 12:00:36 AM PDT by RobinMasters
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To: RobinMasters

2 posted on 10/05/2010 12:59:39 AM PDT by AmericanInTokyo (Worldwide Press Spin, Nov. 3rd? "America is RACIST(sic)". Take that to the bank. Ink already ready.)
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To: RobinMasters

IMF should warn: Obamas policies taking down the west. Do not expect improvement until process is reversed.


3 posted on 10/05/2010 1:43:07 AM PDT by himno hero
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To: RobinMasters

Double dip recession???

Where have these boobaroobaroobah’s been, under a hobbit stump? We’ve been in a all-out depression since before the last election.


4 posted on 10/05/2010 2:57:14 AM PDT by BocoLoco
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To: RobinMasters
Last line of the article

“This was a fun conversation; it went a little off script, which is good,” Obama told the advisory board. “I liked it. I enjoyed it.”

Giddy schoolgirl Obama says "Whee, that was a fun conversation." And it's all about "me." What a childish thing to say.

5 posted on 10/05/2010 6:07:26 AM PDT by ProtectOurFreedom
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To: RobinMasters

IMF Renews Call for Bank Levy, Global Oversight
http://abcnews.go.com/Business/wireStory?id=11789620


6 posted on 10/05/2010 6:32:27 AM PDT by Lorianne (During times of universal deceit, telling the truth becomes a revolutionary act. ___ George Orwell)
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To: RobinMasters

IMF Renews Call for Bank Levy, Global Oversight
http://abcnews.go.com/Business/wireStory?id=11789620


7 posted on 10/05/2010 6:33:55 AM PDT by Lorianne (During times of universal deceit, telling the truth becomes a revolutionary act. ___ George Orwell)
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To: RobinMasters

IMF Warns Western Economies Mired in ‘Near Depression’
/////////////////////////////////////////////////////////////

In other news the Atlantic ocean has been found to be near water, Nancy Pelosi is nearly insane and Michael Moore is near obesity.


8 posted on 10/05/2010 9:00:54 AM PDT by RipSawyer (Clem Hussein Kadiddlehopper would be a vast improvement.)
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