"Oil prices may be threat to growth - IMF"

WASHINGTON (Reuters) - Surging oil prices are becoming a much greater threat to world economic growth, the IMF warned on Wednesday, as a second hurricane threatened the big oil producing and refining areas of the United States.
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In its twice-annual World Economic Outlook, the
International Monetary Fund said global growth was set to grow a swift 4.3 percent this year and next -- above the 3.9 percent average of the past decade, despite the higher oil prices.

It downgraded its forecast for global growth in 2006 from the 4.4 percent expected in April but retained this year's projection.

But IMF chief economist Raghuram Rajan told Reuters oil prices are surging increasingly because of supply disruptions.

http://news.yahoo.com/s/nm/20050921/bs_nm/economy_imf_global_dc

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they mean the growth of CEOs and government officials' coffers.

CEOs will cut down on raises, new hires, and will announce layoffs to prevent profit loss.

do you know how much heating, electric and gasoline are going to be? It's a huge additional "tax".

Another way to think about it:
if guys with CEOs level salaries will be suffering, what does that mean for regular Joes?

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