IMF: We’re Already in a Depression

According to the WSJ, the head of the International Monetary Fund has stated that the US, EU, and Japan are “already in a depression” and the “worst cannot be ruled out”. The IMF is calling for much more stimulus spending by all developed nations.

I was impressed with President Obama’s speech this evening.  I find it exceptionally refreshing to listen to a chief executive who seems to have the intellectual capacity to understand the problem.   (He even gave a decent, brief overview of the Japan Scenario.)  Let’s hope he can parlay this into effective action.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s