Posted on 04/04/2011 4:41:17 PM PDT by TigerLikesRooster
APRIL 4, 2011, 3:51 P.M. ET.
IMF Chief: 'Black Swans' Still Haunt Global Finance
By IAN TALLEY
WASHINGTON—The global economic recovery is still fragile, uneven and "beset by great uncertainty," the head of the International Monetary Fund said late Monday.
Growth in rich countries is too low and unemployment too high, Europe's piecemeal approach to resolving its sovereign debt and growth crisis is aggravating its problems and high commodity prices amid lower revenues and investment is threatening to undermine economic restructuring in the Middle East, Dominique Strauss-Kahn said in remarks to George WashingtonUniversity students.
"Great uncertainty still prevails," Mr. Strauss-Kahn said. "Indeed, numerous black swans are now swimming in the global economic lake."
(Excerpt) Read more at online.wsj.com ...
P!
The IMF is one of the biggest pushers of Free Trade Globalism...so they are always going to take the Socialist/Communist approach to fix economies
The first developed country that drops Free Trade Communism and starts slapping tariffs on nations who are not competitive will be the first to become economically sound
A black swan is something no one could forsee that comes out of no where... I don’t see it. Inflation’s a known. Higher interest rates are a known... Overwhelming debt and the consequences are a ‘known’. Where the hell is the ‘black swan’?
it’s an “unknown”.
The Black Swan is a specific event that has permanent consequences, as described in the book by that name by Nassem Nicholas Taleb, in 2007. The simplest description in layman's term is that it satisfies three things:
1. Nobody sees it coming, it it a total surprise to experts and layman alike.
2. It is profoundly disruptive or beneficial, and universal; it affects everything and everyone.
3. After it occurs, and only after, everyone expert and layman alike agree we should have seen it coming.
Clearly, Cassandras notwithstanding, some always see the obvious, but are usually dismissed as nuts or alarmists.
The current world financial meltdown is deemed a Black Swan.
The coming war for the Caliphate, with or without Soros' help, not quite yet.
I won’t buy American, because unionized Americans might make a buck.
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