The recovery has been postponed, and thanks for everything...
This recession is like the ending to a bad horror film where the monster keeps rising from the hail of bullets, fire, and dismemberment only to cause even more havoc.
The worst part of this evaluation is that they are saying the worst is yet to come. The worst is yet to come? Holy shite...
Notice one little caveat, the whole apocalyptic tone is modified with the little helper word "may."
Guardian UK: Worst days of US crisis may lie ahead, says IMF
"The combination of financial strains and ongoing adjustments in the housing and labour markets is expected to restrain growth for some time, with a solid recovery projected to emerge only in mid-2010..."
...a recovery could be clouded by further home foreclosures and falls in house prices along with rising unemployment.
...the national debt would double to 75% of national income.
"Their stance (The G8) is that we are beginning to see some green shoots but nevertheless we have to be cautious. The large part of the worst is not yet behind us."
3 comments:
Green shoots ? Yea, the kind that appear after a landslide.
This thing is going to be around for a while. Its massive.
It's structural failure. Like that bridge that collapsed a few yrs. ago. It's the collapse of "the bridge to the future" that Gore used to talk about, back in 2000. Half the economy was crossing it when it collapsed. Is it any surprise that the areas least affected are in the RED states especially Texas? Doh!!
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