IMF chief warns of weak global growth figures

[webfact]

IMF chief warns of weak global growth figures



WASHINGTON: -- The International Monetary Fund’s Managing Director Christine Lagarde has warned that global growth figures due to be announced next week will be weaker than anticipated, some of it due to the slow down in China.

Lagarde was addressing the Council of the Americas ahead of next week’s IMF and World Bank annual meetings and the release of the Fund’s World Economic Outlook on Tuesday.

During a speech at the prestigious council in Washington, Lagarde was also mindful of the human cost and consequences of Europe’s refugee crisis.

“Besides the heartbreaking suffering from conflict and forced migration, there is a human toll from economic dislocation and low activity: More than 200 million people are actually looking for a job and declaring that they are unemployed.”

While declining growth rates are likely to lead to more austerity, Lagarde did have a word of encouragement.

“My key message today – and I hope to develop that today and convince you – is this: with the right policies, with strong leadership and global cooperation more than ever before, it can be managed.”

Euronews Correspondent Stefan Grobe was at the Washington event and said the following of Lagarde’s address:

“Christine Lagarde gave a rather sober outlook of the global economy, with China and US monetary policy in transition. Once again, she urged all countries to speed up reform – a call that has not been sufficiently heard in the past.”


-- (c) Copyright Euronews 2015-10-01

[elgordo38]

And the stock markets roar ahead while Rome burns. What an upside down world. The greed gravy train roars along minus a few hiccups along the way. The doomsday sayers keep shouting from the rooftops of a great fall? Hmmm wonder when. One idiot even shouts a 31,000 point Dow in a few years. Quite a climb from 16,000 in an uncertain world. Go figure.

Edited October 1, 2015 by elgordo38

[ggt]

Meanwhile, the financial analysts and stock brokers say we are just seeing a minor and necessary correction...hold tight...all is well.

This is not going to end well...when the Fed. Reserve is afraid to raise interest rates from zero to .25 of 1 percent...you know the US and the world are in trouble economically...

No one knows the exact time...but economic woes are not going to improve...just continue to get worse...until the world...having bought into the money printing and running up unsustainable debt...defaults...

This scenario is unprecedented in human history...one thing is certain...no country will be exempt from human misery brought on by irresponsible economic policies...

Edited October 1, 2015 by ggt

[crash2nz]

i agree 100% with ggt

the global economy is on the slippery slope... downwards... there will be no escaping the huge credit binge, both personal and govt via QE, that has underpinned the world economic growth over the last 20+ years... this is an unprecedented situation that is only going to end one way... in disaster... we are already seeing the start with sharemarket ructions.. look at Glencore as an example... and despite what janet at the fed is doing she doesnt have a clue... there is nothing anyone can do except to wait it out and as an individual be as liquid as you can... mark 2016/17 as defining years in world economic order...

hey i am not a pessimist at all, in fact quite the opposite.. I am a realist ... so if you choose to believe all thet bs from mainstream press so be it...

[elgordo38]

Meanwhile, the financial analysts and stock brokers say we are just seeing a minor and necessary correction...hold tight...all is well.

This is not going to end well...when the Fed. Reserve is afraid to raise interest rates from zero to .25 of 1 percent...you know the US and the world are in trouble economically...

No one knows the exact time...but economic woes are not going to improve...just continue to get worse...until the world...having bought into the money printing and running up unsustainable debt...defaults...

This scenario is unprecedented in human history...one thing is certain...no country will be exempt from human misery brought on by irresponsible economic policies...

And the truth shall set you free? Sadly not. The truth above is so severe and to bitter a pill for most to swallow. Look out for the naysayers they are coming for you.

[blazes]

It's amazing how those of us writing here can see clearly <deleted> is going on, whereas, almost without exception, so-called "analysts" or "experts" keep on talking about the "recovery" as if it were a fact, whereas despite a few green shoots here and there, all of us who are being lied to KNOW that we are being lied to.

Also, some of the leading commodity companies are facing huge debt repayments soon, very soon, and their inability to repay could well be the Black Swan that will totally fk up the bond markets.

[elgordo38]

It's amazing how those of us writing here can see clearly <deleted> is going on, whereas, almost without exception, so-called "analysts" or "experts" keep on talking about the "recovery" as if it were a fact, whereas despite a few green shoots here and there, all of us who are being lied to KNOW that we are being lied to.

Also, some of the leading commodity companies are facing huge debt repayments soon, very soon, and their inability to repay could well be the Black Swan that will totally fk up the bond markets.

All this money printing has literally papered our rooms with 100 dollar bills and given us a false sense of security. We live in a casino atmosphere where we throw money (in some cases borrowed money as greed sets in) into the stock market (the only game in town for us seniors to get a decent return or well loose it all) We live in a child like world a Monopoly world and when we get our weekly allowance our parents hold out a fist full of money and say "take as much as you want son" make sure to spend it all. The savings incentive has died. Normalcy as we knew it has evaporated. Company earnings or lack there of mean nothing. So called economists spout buy on the dips, hold on things will turn around they are a dime a dozen. Personally the green shoots the above poster talks about are getting to look like some of the dying rice fields here in LOS. Who needs a trip to Las Vegas?

Edited October 2, 2015 by elgordo38

[Asiantravel]

It's amazing how those of us writing here can see clearly <deleted> is going on, whereas, almost without exception, so-called "analysts" or "experts" keep on talking about the "recovery" as if it were a fact, whereas despite a few green shoots here and there, all of us who are being lied to KNOW that we are being lied to.

Also, some of the leading commodity companies are facing huge debt repayments soon, very soon, and their inability to repay could well be the Black Swan that will totally fk up the bond markets.

All this money printing has literally papered our rooms with 100 dollar bills and given us a false sense of security. We live in a casino atmosphere where we throw money (in some cases borrowed money as greed sets in) into the stock market (the only game in town for us seniors to get a decent return or well loose it all) We live in a child like world a Monopoly world and when we get our weekly allowance our parents hold out a fist full of money and say "take as much as you want son" make sure to spend it all. The savings incentive has died. Normalcy as we knew it has evaporated. Company earnings or lack there of mean nothing. So called economists spout buy on the dips, hold on things will turn around they are a dime a dozen. Personally the green shoots the above poster talks about are getting to look like some of the dying rice fields here in LOS. Who needs a trip to Las Vegas?

" We live in a child like world "

i.e. Extend and pretend

[Asiantravel]

this article implies it goes far beyond the warning in the OP

World set for emerging market mass default, warns IMF

The International Monetary Fund (IMF) has issued a double warning over higher US interest rates, which it said could trigger a wave of emerging market corporate defaults and panic in financial markets as liquidity evaporates.

http://www.telegraph.co.uk/finance/economics/11898936/World-set-for-emerging-market-mass-default-warns-IMF.html