The Intenrational Monetary Fund, on wednesday, said that we are in Â “by far the deepest global recession since the Great Depression,” and the pain won’t stop this year.
“We can be fairly confident that in 2010 or even 2011, economies will not be back to normal,” said IMF chief economist Olivier Blanchard. “Which means that governments should today basically think at least about contingent plans for infrastructure spending. … Next year will be too late.”
“The global downturn guarantees that countries all over the world will be hit with extraordinarily high unemployment rates,” Sinai said. “And, with the tremendous number of unemployed people comes the possibility of political unrest.”
“All corners of the globe are being affected.”
Pay no attention to the warning signs. According to some experts, we are in a bull market because stock markets around the globe have been moving in the upward direction for the better part of the last 6 weeks. This is the time to buy, buy, buy!