Quote: "Our sense is that if we do not act boldly and if we do not act together, the economy around the world runs the risk of downward spiral of uncertainty, financial instability and potential collapse of global demand... we could run the risk of what some commentators are already calling the lost decade."
http://www.cnbc.com//id/45217763
http://www.cnbc.com//id/45217763
6 comments:
sorry i am fed up with this imf economist and other economist talking rubbish since they are still prescribing even more stimulus(more debt) to a debt problem. Nothing with be solved if the root problem of fraud and increased leverage by the private and central bankers are not solved. Imparting honesty, accountability and transparency to the financial system with prosecution of those especially the top bankers engaging in fraud and collusion are only the first step of a long road to reform.
If the world needs to suffer a depression, than let it be.
This continous talk about:
" lost decade"
" ..we are in a dangerous position"
" .. if Greece defaults.."
" .. if Italy cannot sort itself.."
Lots of "ifs"
Lots of "when"
Lots of meetings, seminars
Lots of statements..
But no action.. business as usual
MRT is still packed right?
CTE is still jammed right?
More expensive cars right?
Interest rates remain static right?
Nonsense, rubbish.. let the world go into depression and stop trying to stop it or delay it or ring fence it... wasting money, time and only politicians gain.. with frequent flyer miles, free food & wine and luxury hotels and car rides... whoose money is it?
Is the IMF economist trying to be smart after the event or he just woke up from a long slumber?
What these so-called financial experts and heads of financial institutions are saying are just things that people already knew years ago will happen. What is new in their speeches?
Why are they now singing like canaries after the problems look unsurmountable. Why not earlier?
It is inevitable. It is a mathematical impossibility to sustain this kind of monetary system.
Is economic a science subject?
If yes, taken paracetomol pain will stop.
If no, talk and talks......still painful..you and me are suffering..our next generation are suffering...those who are in power or super-rich are laughing and talking...
Iceland is giving the cue to countries in financial trouble.
Let the banks fail, and start from ground zero. Feet dragging and dilly dally would prolong the pain and delay the inevitable, not solving the root of the problem.
But easier said than done in the Euro zone, as the banks involved are from the richer Euro countries of France and Germany.
Italy is now in the news, next would be Spain and then Portugal.
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