IMF chief sees little risk of double-dip recession

babylonsister

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Fri Jul-16-10 09:48 PM
Original message

IMF chief sees little risk of double-dip recession

Yes, a few days old, sorry.

IMF chief sees little risk of double-dip recession

DAEJEON | Tue Jul 13, 2010 1:38pm IST

DAEJEON South Korea, July 13 (Reuters) - The International Monetary Fund's chief reiterated on Tuesday that strong growth in Asia and Latin America made it unlikely that the global economy would suffer a double-dip recession.

Last week, the IMF upgraded its 2010 global economic growth forecast to 4.6 percent from 4.2 percent due to robust expansion in Asia and renewed U.S. private demand, but kept its 2011 outlook unchanged at 4.3 percent.

"We expect 2011 to be a little lower than the level of 2010. But all this is too far from any kind of double-dip," Managing Director Dominique Strauss-Kahn told a news conference in the central South Korean city of Daejeon.

"Certainly our forecast is not the forecast of a double-dip," Strauss-Kahn said.

more...

http://in.reuters.com/article/idINTOE66A02X20100713

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MannyGoldstein

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Fri Jul-16-10 10:32 PM
Response to Original message

1. What do you think?

Another dip? Or a recovery?

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babylonsister

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Fri Jul-16-10 10:39 PM
Response to Reply #1

2. I don't know. I don't think anyone does. Do you? No, let me guess,

a big honkin' dip, right? Do I get a cookie?

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MannyGoldstein

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Fri Jul-16-10 10:45 PM
Response to Reply #2

4. Cookie for you

When Krugman, Stiglitz, Roubini, and AllentownJake all agree, it's extremely likely to be right.

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babylonsister

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Fri Jul-16-10 10:57 PM
Response to Reply #4

5. Nobody knows, not even Krugman or AllentownJake!

This is about Krugman; Jake I have on ignore, and you're pushing it. Let me repeat; no one knows, and I'd prefer to think positive considering I'm one of the unwashed who is middle-aged without a job and needs one STAT.

http://www.huffingtonpost.com/dan-dorfman/krugmans-dilemma-hero-or_b_646748.html

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MannyGoldstein

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Fri Jul-16-10 11:07 PM
Response to Reply #5

6. Nobody knows - but I asked what you *thought*

The best economists with excellent track records predicted that there was a high likelihood that the original stimulus was too little. Obama chose to give those economists the back of his hand, preferring the demonic duo of Summers and Geithner.

Now we are here. We'll see what happens.

All the best to you in your job search, and I sincerely mean this. Even though we often disagree, I can tell that you're an excellent person. As Ben Franklin said, "We must all hang together, or assuredly we shall all hang separately." We need to find a way beyond this morass.

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EmilyKent

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Fri Jul-16-10 10:43 PM
Response to Original message

3. Did they see the first one? No.

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jannyk

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Sat Jul-17-10 03:55 AM
Response to Original message

7. That's nice....

... however, when we look back to late 2007/early 2008, you'll notice they didn't 'forecast' the financial collapse of the global economy either. Nor did they hit one out of the park in 2000/2001 (dotcom bubble burst). Not too impressed with their track record on forecasting anything.

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