Debt burden
The global economy is heading toward a sustained recovery but given the risks of another downturn it is too soon to withdraw stimulus, International Monetary Fund Deputy (IMF) managing director John Lipsky said on Friday. “We think that we are on a trajectory toward sustained growth but that the recovery is going to be relatively moderate and relatively sluggish,”
All the Western industrialised nations, as well as most of the poor developing nations, are so deeply in debt to the IMF, & their economies so unbalanced & fragile with inflation, that it wouldn't take much to cause them to all come tumbling down into a full Depression! In fact, it's amazing that it hasn't happened already!
The dollar will crash and burn one of these days, as I've said, and it will come as quite a shock both to America and the world. It's sinking against the euro and the yen right now. But when the crash itself comes, it will be sudden, causing "a mighty widening of the eyes among those who have not discerned the signs of the times!"
For all latest news, follow The Daily Star's Google News channel.
Comments