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G20 Meeting: Economics Should Trump Politics
When the finance ministers of the G20 group of leading world economies – including the so-called “BRIC” (Brazil, Russia, India, China) group of emerging-market nations – meet in London, you can bet that there will be only one topic: To figure out what the hell their governments should do about the global economic crisis.
Presumably, if any really good ideas emerge, the London Summit of the G20 Heads of Government, can try to implement them in two weeks’ time.
Larry Summers, the former U.S. Treasury Secretary and head of President Barack Obama’s National Economic Council, certainly has a strong suggestion: He thinks…
16Mar2009 | Money Morning | 0 comments | ContinuedSpreading the Slowdown
“Wall Street, central bankers, economists, politicians – and most investors too – are betting on a soft landing,” said a friend from New York. “A slowdown in world growth has taken the pressure off commodity prices. Slower growth will help keep inflation down, generally. And as long as inflation is no problem, the Fed doesn’t have to raise rates – which will keep the slowdown from hitting too hard.”
Monday’s International Herald Tribune echoed the good news:
“World economies catch US malaise…pain of slowdown spreads far and wide, threatening businesses and growth.”
The world was growing at about a 5% rate in 2007.…
27Aug2008 | Daily Reckoning | Comments Off | ContinuedIMF Warns of Global Economic Slowdown
By Jennifer Yousfi
Money Morning
Global growth will slow to 3.7% in 2008, the International Monetary Fund announced yesterday (Wednesday), in its most recent World Economic Outlook.
There is also a 25% chance of a global recession should economic growth fall below 3% in 2008 or 2009.
The United States will largely be responsible for worldwide deceleration due to the steep correction in the U.S. housing market and continued fallout from the credit crisis, which started in the subprime sector and has spread throughout the financial system.
The IMF forecast the U.S. economy would slip into a recession in 2008, with only a slight…
10Apr2008 | Money Morning | Comments Off | Continued
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