Tag Archives: Economy

IMF warns of oil risk from Iran

International Monetary Fund (IMF) managing director Christine Lagarde, speaking in New Delhi, warned that crude oil prices may spike by up to 30 percent if Iranian supplies were disrupted, causing "serious consequences" for the global economy.

France24…

AFP – IMF chief Christine Lagarde warned Tuesday that crude oil prices may spike by up to 30 percent if Iranian supplies were disrupted, causing “serious consequences” for the global economy.

The standoff between Iran, the world’s second-largest supplier of oil, and the West over the Islamic Republic’s nuclear program is seen as a flashpoint that could sharply increase world crude prices.

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3 doomsaying experts who foresee economic devastation ahead

1930 Bread line

From USA Today…

NEW YORK – Behind the mainstream Wall Street happy talk about more stable financial markets and an improving economy are grim warnings of tough times ahead from a small cadre of doomsayers who warn that the worst of the financial crisis is still to come.

Harry Dent, author of the new book The Great Crash Ahead, says another stock market crash is coming due to a bad ending to the global debt bubble. He has pulled back on his earlier prediction of a crash in 2012, as central banks around the world have been flooding markets with money, giving stocks an artificial short-term boost. But a crash is coming in 2013 or 2014, he warns. “This will be a repeat of 2008-09, only bigger, when it finally hits,” Dent told USA TODAY.

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France Downgraded by S&P, Losing Triple-A Status: Report

From CNBC…

Standard & Poor’s ratings agency has downgraded France’s credit rating, French television channels reported on Friday, citing a government source.

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IMF’s Lagarde warns global economy threatened

International Monetary Fund's Managing Director Christine Lagarde addresses a roundtable discussion in Lagos, December 20, 2011. REUTERS/Stephen Jaffe-IMF/Handout

From Reuters…

PARIS (Reuters) – The head of the International Monetary Fund said the world economy was in danger and urged Europeans to speak with one voice on a debt crisis that has rattled the global financial system.

In Nigeria last week, IMF Christine Lagarde said the IMF’s 4 percent growth forecast for the world economy in 2012 could be revised downward, but gave no new figure.

“The world economy is in a dangerous situation,” she told France’s Journal du Dimanche in an interview published on Sunday.

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IMF chief warns over 1930s-style threats

From Financial Times…

The managing director of the International Monetary Fund has warned that the global economy faces the prospect of “economic retraction, rising protectionism, isolation and . . . what happened in the 30s [Depression]”, as European tensions again flared over suggestions in Paris that the UK’s credit rating should be downgraded before France’s.

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Monster Prediction From BofA: Another US Debt Downgrade Is Coming In Just A Few Weeks

From Business Insider…

In an analyst note, Bofa/ML Ethan S. Harris drops a bit of a bombshell prediction:

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EU bank failures will crash Wall Street — again

From MarketWatch…

1. Greece will default very soon …
2. The contagion of fear will spread …|
3. European megabanks will collapse …
4. EU governments suffer new credit rating downgrades …
5. Spain and Italy next to face default on their massive debts …
6. Global debt markets will suffer a critical meltdown …
7. Vicious cycle: sovereign defaults, bank failures, global depression …
Warning to investors: No bank bailouts, power to Occupation

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New euro ’empire’ plot by Brussels

From The Telegraph…

European Union chiefs are drawing up plans for a single “Treasury” to oversee tax and spending across the 17 eurozone nations.

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Jittery traders have a case of S&P 500 déjà vu

From ReutersUK…

(Reuters) – An eerie coincidence on the closing level of the main U.S. stock index had traders atwitter when nerves of a harder market crash are running high.

On Monday, the S&P 500 index closed at precisely [to the decimal] the same level as it did back on the same day in October 3, 2008, when global markets were heading into a precipitous freefall that dragged on for five volatile months.

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Soros’ Editorial: Does the euro have a future?

George Soros is Chairman of Soros Fund Management and of the Open Society Institute.

From Reuters…

Even if a catastrophe can be avoided, one thing is certain: the pressure to reduce deficits will push the eurozone into prolonged recession. This will have incalculable political consequences. The euro crisis could endanger the political cohesion of the European Union.

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