World in grip of 'Great Recession', IMF warns

Andrew64

The Great Recession! I'm sure we'll all get used to this lovely term in the end!

http://www.telegraph.co.uk/finance/economics/4966754/World-in-grip-of-Great-Recession-as-growth-dips-below-zero-IMF-warns.html

The world is now in the grip of the "great recesssion" and global economic growth could dip below zero for the first time in sixty years, said Dominique Strauss-Kahn, the head of the IMF.

Really2

Andrew64 wrote: »

The Great Recession! I'm sure we'll all get used to this lovely term in the end!

http://www.telegraph.co.uk/finance/economics/4966754/World-in-grip-of-Great-Recession-as-growth-dips-below-zero-IMF-warns.html

The world is now in the grip of the "great recesssion" and global economic growth could dip below zero for the first time in sixty years, said Dominique Strauss-Kahn, the head of the IMF.

I prefer it to the Great Depression.;)

ray123

De(e)p Re(ce)ssion
Even Gordon Brown slipped up last month, stating depression rather than deep recession. It indicates what they are talking about behind the scenes.

Just imagine the Great Depression and throw in the mix credit cards, unsecured loans, 125% mortgages, releasing equity from over-inflated properties. It is not a pretty sight...

vivatifosi

ray123 wrote: »

De(e)p Re(ce)ssion

Clever Ray, very clever... I would not have picked up on that in a month of Sundays. Remind me never to challenge you to a game of Scrabble.

Really2

grEAT REcesSIoN

Is the best I can come up with.

Can we have a game of economy countdown.:D

JP45

There's an excellent account in today's FT of the factors that led to the current crisis and the intellectual failure of leaders such as Greenspan to prevent the disastrous outcome. As the article states:

Economic policymakers could have limited these dangers, but they did not do so. Instead, they allowed the bubble to inflate and let financial transactions become increasingly opaque and ever more leveraged. As in previous bubbles, value came to rely on the perception of value itself: growth pulling itself up by its own leveraged bootstraps. Many assets were not even priced through market trading but valued by complex formulas – akin to peddling tulips with equations.

http://www.ft.com/cms/s/0/cbc4cfd8-0ce4-11de-a555-0000779fd2ac.html

thriftybabe

Stop freaking me out you guys! What was being said months ago on MSE is now getting said in the media and lots of people were slating people when they said there was a depression coming! Now what I would like you to do is tell me all the good news and hopefully it will come true. Tell me that there are green shoots! Tell me that we are going to be able to get easy credit! Tell me no more boom and bust! Tell me things are going to turn back to normal by the end of the year..... Come on please!

BlondeHeadOn

thriftybabe wrote: »

Stop freaking me out you guys! What was being said months ago on MSE is now getting said in the media and lots of people were slating people when they said there was a depression coming! Now what I would like you to do is tell me all the good news and hopefully it will come true. Tell me that there are green shoots! Tell me that we are going to be able to get easy credit! Tell me no more boom and bust! Tell me things are going to turn back to normal by the end of the year..... Come on please!

Er.... good news?

.... Er.....

........

......Nope, can't think of any......

:rotfl:

Austin_Allegro

thriftybabe wrote: »

Stop freaking me out you guys! What was being said months ago on MSE is now getting said in the media and lots of people were slating people when they said there was a depression coming! Now what I would like you to do is tell me all the good news and hopefully it will come true. Tell me that there are green shoots! Tell me that we are going to be able to get easy credit! Tell me no more boom and bust! Tell me things are going to turn back to normal by the end of the year..... Come on please!

Wouldn't you rather we told you tomorrow's race winners and lottery numbers? :rotfl:

lostinrates

Good news....the wind is blowing some fresh air into day and the sun keeps peeking out. Its jolly good spring cleaning weather. You have a DH you and he have the skills to provide for others whatever the climate.

We need to be concerned, but we also need to smile when the sun shines.

Really2

thriftybabe wrote: »

Now what I would like you to do is tell me all the good news and hopefully it will come true. Tell me that there are green shoots! Tell me that we are going to be able to get easy credit! Tell me no more boom and bust! Tell me things are going to turn back to normal by the end of the year..... Come on please!

The Truth in real terms it will be no where near the 1930's depressions.

Yes our standards of living may slip by the same amounts but in reality they have gone up so much it will be like saving a extra year or two for a car, not dieing of starvation.

Don't forget all this reporting is a worse since in financial not human terms.

People on here view worst in 60 years as we will be going back 60 years. Simply that is not the case we are not going to be living like people in the 1930's depression.

If our wages went down now 20% you would most probably survive (fairly comfortably at that). In the 30's that could mean malnutrition.