Saturday, 14 February 2009
Gordon Brown is not the only political celebrity to fashionably use the D-word, for Dominique Strauss-Kahn managing director of the IMF last week evidently used the D-word, whilst on a two-day trip to Kuala Lumpur.
THE International Monetary Fund (IMF) is no stranger to financial and economic crises. Thus, when it recently admitted that this is indeed a grave time for the global economy, those hanging on to the final threads of optimism must have felt shivers down their spine.
He said, steep declines in consumer confidence, global trade, consumption and a number of other economic indicators, paint a bleak picture for the world. And there may be more bad news ahead.
Abrasively conveyed by IMF managing director when he used the D-word, saying the advanced economies are already in a ‘’depression’’ and that the financial crisis may deepen unless the banking system is fixed, he continued; “The worst cannot be ruled out. There’s a lot of downside risks,” he was quoted as saying.
It’s scary considering the IMF has witnessed 122 banking emergencies!
- ► 2008 (112)
- The Wildcats!
- The death rate amongst older people in winter - Is...
- "And Thats Why - their end move in politics is alw...
- Comrade Obama
- Will China Fracture Under The Strain Of Recession?...
- More Protests and Unemployment expected to surge ...
- Will the penny drop?
- The Ugly faces of Capitalism
- US Workers Hard Done By!
- Hard times ahead?
- A FORMER Scunthorpe industrial development chief ...
- 'The D-Word'
- 'Try a little prayer'
- It's Not Going to Be OK
- World capitalist crisis poses greatest threat to p...
- "The Poverty Lens"
- Mandy Throw's a Wobbler!
- Summer of Riots!
- World capitalist crisis poses greatest threat!
- Value, Price And Profit:
- ▼ February 2009 (21)
- ► 2010 (228)
- ► 2011 (200)
- ► 2013 (120)