IMF Predicts Global Economic Downtrend

[liveonearth]

In its “downside scenario,” the fund said that a continued rise in European government borrowing rates and a worsening of problems with the region’s banks would push the world into recession.

“The current environment...provides fertile ground for self-perpetuating pessimism,” the fund wrote.Their calculations predict the global downward trend in

Comments

[ford_prefect42]

Inevitable as the sunrise.

There is simply no way that we (and europe) who live in single family homes, eat high on the food chain, heat and cool our homes rigorously, drive cars, and recieve the best that modern medicine has to offer (and then there's consumer junk) can produce goods and services at teh same price as a chinese person who will work twice as many hours per week, while consuming 1/4 of the resources. The only question is the timescale of our decline and fall.

[liveonearth]

Agreed.