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  1. #1

    Default Global economy grinds to a Halt - IMF

    Can surely only get worse ......


    Global economy grinds to a stop, according to the International Monetary Fund
    David Uren, Economics correspondent | January 28, 2009
    Article from: The Australian

    THE world economy is at a standstill, with the major developed countries in deep recession, according to leaked forecasts prepared by the International Monetary Fund.

    The third downward revision to the IMF's forecasts in the last four months comes as layoffs affecting more than 70,000 workers were announced around the world on Monday.

    The IMF is due to release new official economic forecasts before the end of the week. However, a well-sourced report carried by Reuters news agency says it expects global growth of just 0.5per cent this year.

    The fund has been struggling to keep up with the rapidly deteriorating world economy, having cut its estimate for world growth next year from 3.8 per cent last April to 3 per cent in October and 2.2 per cent in November.

    The latest update anticipates sharply slowing growth in China and India.

    The US economy is expected to contract by 1.6 per cent, while Europe will shrink by 2 per cent and Japan by 2.6 per cent.
    http://www.theaustralian.news.com.au...02-601,00.html

    I heard from some trustworthy ASF permabulls that Oztraaalian RE is booming though ??

    May Peace Be With You

  2. #2
    Hatchet Moderator doctorj's Avatar
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    Default Re: Global economy grinds to a Halt - I.M.F

    The World Economic Outlook is a very interesting and worthwhile read.

    Available here: http://www.imf.org/external/pubs/ft/...2/pdf/text.pdf

  3. #3

    Default Re: Global economy grinds to a Halt - I.M.F

    /puke


    looks whos turned all bearish and trigger happy on us ..... makes me want to switch teams ....

    Davos 2009: Murdoch on crisis and war

    News Corp chairman Rupert Murdoch says a big government stimulus packages will fail, as in the Great Depression when only world war saved the U.S.economy.
    http://player.video.news.com.au/thea...J56JN21Mkescza
    May Peace Be With You

  4. #4

    Default Re: Global economy grinds to a Halt - I.M.F

    Quote Originally Posted by numbercruncher View Post
    looks whos turned all bearish and trigger happy on us ..... makes me want to switch teams ....
    http://player.video.news.com.au/thea...J56JN21Mkescza
    You gotta love Murdoch, he's spot on once again.
    If your eyes are red cut down on your drinking If you're short of breath cut down on smoking. Apart from that live until you die (James Bond)

  5. #5

    Default Re: Global economy grinds to a Halt - I.M.F

    Try this link instead, it seems to work -

    http://au.video.yahoo.com/watch/4381959/11755859
    If your eyes are red cut down on your drinking If you're short of breath cut down on smoking. Apart from that live until you die (James Bond)

  6. #6
    Hatchet Moderator doctorj's Avatar
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    Default Re: Global economy grinds to a Halt - I.M.F

    Quote Originally Posted by numbercruncher View Post
    /looks whos turned all bearish and trigger happy on us ..... makes me want to switch teams ....
    I can't find what I've done with the link, but Taleb said something today almost bullish.

    I wonder if the old story about cab drivers and stock tips applies in reverse?

  7. #7
    GumbyLearner's Avatar
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    Default Re: Global economy grinds to a Halt - I.M.F

    Germany (Worlds Largest Exporter)

    387,000 jobs lost last month.
    Unemployment rises from 7.5% to 8.3% in one month!
    (N.B. Probably not using ABS stats by the looks of things)

  8. #8
    noirua's Avatar
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    Default Re: Global economy grinds to a Halt - I.M.F

    It doesn't matter that much to the fortunate ones. If losing your job isn't much of a problem, due to income from elsewhere, "who cares", you might say.

    It's an unfair world, and it's up to the Government, in Australia, to even things out for the unfortunate in these hard times. Unfortunate, that was me once, and I know what it is like and it can mess the mind up so bad it can lead to extreme decisions being made.

    Global economy grinding to a halt, no matter, as it's a personal economy grinding to a halt that is a real problem, for the individual that is.

  9. #9
    GumbyLearner's Avatar
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    Default Re: Global economy grinds to a Halt - I.M.F

    Quote Originally Posted by noirua View Post
    It doesn't matter that much to the fortunate ones. If losing your job isn't much of a problem, due to income from elsewhere, "who cares", you might say.

    It's an unfair world, and it's up to the Government, in Australia, to even things out for the unfortunate in these hard times. Unfortunate, that was me once, and I know what it is like and it can mess the mind up so bad it can lead to extreme decisions being made.

    Global economy grinding to a halt, no matter, as it's a personal economy grinding to a halt that is a real problem, for the individual that is.
    I have read many of your posts noirua. The way a lot of business but not all of course is unfair. Bureaucracy doesnt provide all the solutions, but again neither do the unrealistic experiences of the individuals of the markets.

    What really gets to me is the Free Trade Globalizationers of the US-Euro markets. These are the same people who protect their own businesses, through supporting their own manufacturers/farmers through tariff protectionism and yet dont practice what they preach when it comes to "free trade". Mainly because they are **** scared that people might be able to do a better job locally rather than their "free" global theoretical rhetorical ideals.
    They consider many aussie businesses or other businesses outside of Australia as economic collateral damage.

    Take Europes recent decision on subsidies for their own dairy industry as an example. That can only hurt Australian business. But what can we do? Complain..unfortunately it will fall on deaf ears! Unless we can get a compromise from the WTO! Not likely!

    I think anyone with a balanced view of the world (considering the economic point of the abyss that we are at now) who cannot accept the arguments of this "meta"-philosophy of globalizationer solution has reason to be sceptical.

    The Democratic Party and the Republicans to a lesser extent have both been protectionist in their own policies when it comes to protecting their own trade. The problem is that this kind of position has been morphed by the media and governments that anyone who disagrees with them is a wowser.

    Well if they are the guys with the biggest stick in the sandpit, why can't we
    point out the fallacy of their practices?

    JMO!

  10. #10

    Default Re: Global economy grinds to a Halt - IMF

    HSBC's chief economist Stephen King is warning of a possible global recession. Slowing growth in China, low interest rates, low inflation, record levels of public debt and little room for further stimulus spending.

    Scaremongering, or a timely warning?

    http://www.news.com.au/finance/econo...-1227371228341

  11. #11
    The Contrarian Averager So_Cynical's Avatar
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    Default Re: Global economy grinds to a Halt - IMF

    Quote Originally Posted by stockGURU View Post
    HSBC's chief economist Stephen King is warning of a possible global recession. Slowing growth in China, low interest rates, low inflation, record levels of public debt and little room for further stimulus spending.

    Scaremongering, or a timely warning?

    http://www.news.com.au/finance/econo...-1227371228341
    China has been slowing for 2 years, low interest rates and inflation for 2 or 3 years globally, debt 4 or 5 years.

    so whats new?
    Statistics: 170 Closed Trades since July 07, Trades: Winners 133 - Losers 37, Expectancy/$1 Risked: $0.71

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