Skip to content
Catholic Online Logo

By Catholic Online (NEWS CONSORTIUM)

10/4/2012 (3 years ago)

Catholic Online (www.catholic.org)

IMF Global watchdog says the world will need at least 10 years to recover from 2008 meltdown

If economic watchdog Olivier Blanchard says that the world is not even halfway through the long, slow economic recovery after the crash of 2008. Blanchard predicts it will take at least a decade for the world to fully recover, and that everyone needs to shore up for at least six more years of hard times.

Olivier Blanchard, chief economist at the International Monetary Fund, says 'It is not yet a lost decade but it will surely take at least a decade from the beginning of the crisis for the world economy to get back to decent shape.'

Olivier Blanchard, chief economist at the International Monetary Fund, says "It is not yet a lost decade but it will surely take at least a decade from the beginning of the crisis for the world economy to get back to decent shape."

Highlights

By Catholic Online (NEWS CONSORTIUM)

Catholic Online (www.catholic.org)

10/4/2012 (3 years ago)

Published in Business & Economics

Keywords: Olivier Blanchard, International Monetary Fund, eurozone, U.S. debt


LOS ANGELES, CA (Catholic Online) - Blanchard, chief economist at the International Monetary Fund, says "It is not yet a lost decade but it will surely take at least a decade from the beginning of the crisis for the world economy to get back to decent shape."

While Britain has finally emerged from the longest double dip recession since the Second World War, these latest warnings have come in a timely fashion.

The economy also grew by 0.6 percent between July and September, the first quarter of growth since the same period last year.

There is no shortage of bad news. The eurozone crisis still threatens to spiral out of control, the U.S. approaching a debt storm and the global economy slowing from China to Brazil - things look bleak.

Economist Gerard Lyons said: "Is the global economy heading into another recession?

"This is now becoming a genuine possibility. Business confidence has deteriorated. Worries about the euro appear to have been the trigger for this."

Blanchard says that adjustment in the euro zone required a decrease in prices in the bloc's indebted southern half, such as Greece and a rise in core countries.

Blanchard also says that Germany would have to accept higher inflation and a real strengthening of its purchasing power as part of the solution to Europe's problems.

Business Secretary Vince Cable admitted the turmoil was far from over.

"We are in a very deep crisis centered on the collapse of the banking system.

"Projecting and predicting how we get out of this crisis is very difficult indeed."

.

---


Pope Francis: end world hunger through 'Prayer and Action'


Copyright 2016 - Distributed by THE CALIFORNIA NETWORK

Pope Francis Prayer Intentions for May 2016
Universal:
Respect for Women: That in every country of the world, women may be honored and respected and that their essential contribution to society may be highly esteemed.
Evangelization: Holy Rosary: That families, communities, and groups may pray the Holy Rosary for evangelization and peace.



Comments


More Business & Economics

100k Americans work for China as China continues to purchase major US companies Watch

Image of New reports indicate nearly 100 thousand U.S. jobs report to China (AMC Theatres).

By Kenya Sinclair (CALIFORNIA NETWORK)

China has been purchasing major American companies, resulting in nearly 100,000 U.S. citizens working to support the Chinese economy. LOS ANGELES, CA (Catholic Online) - State-owned companies and those closely-related to the Chinese government are responsible for the ... continue reading


The world of news is changing, Buzzfeed struggles to keep up Watch

Image of Buzzfeed is struggling, can they cope with the shift in media culture?

By Marshall Connolly (CALIFORNIA NETWORK)

There's growing concern that Buzzfeed doesn't have a very bright future, at least as far as news is concerned. The firm has missed its projected revenues, and it may look to the news for the place to cut. LOS ANGELES, CA (California Network) - It's hard to get news ... continue reading


Two hundred French police raid Google over unpaid taxes as it's revealed firm may owe nearly $2 BILLION! Watch

Image of Police have raided the Google headquarters in Paris, seeking evidence of tax evasion.

By Marshall Connolly (CALIFORNIA NETWORK)

Your favorite brands may be in trouble for tax evasion. Over a hundred police officers and another hundred support personnel have raided Google's headquarters in France as part of an investigation into the company's taxes. Google is one of many brands that may owe ... continue reading


Censorship in America is alive and well. You'll be surprised to see who you can thank! Watch

Image of Obama and Zuckerberg work closely. It's not clear on what.

By David Drudge (CALIFORNIA NETWORK)

Freedom of the press may be the most important fundamental right in a free society. This is why censorship, particularly on social networks such as Facebook, is particularly onerous. LOS ANGELES, CA (California Network) - Freedom of the press is enshrined in the First ... continue reading


Facebook censor scandal - What is Zuckerberg up to? Watch

Image of Facebook censorship scandal prompts Zuckerberg to move (Pinterest).

By Kenya Sinclair (CALIFORNIA NETWORK)

Mark Zuckerberg is set to hold a meeting on Wednesday with Glenn Beck and Dana Perino to talk Facebook's censorship scandal. LOS ANGELES, CA (Catholic Online) - Recently a Gizmodo report accused Facebook of suppressing conservative news in the "trending" section.The ... continue reading


YES, bosses should let their employees power nap. So why don't they? Watch

Image of Studies show a short nap at work and increase productivity, alertness, memory, and cognition.

By Marshall Connolly (CALIFORNIA NETWORK)

There's something to be said for the afternoon siesta, after all. Or at least a power nap, according to one sleep expert from the University of Adelaide. Research shows that a ten-to-fifteen-minute nap in the afternoon improves performance. LOS ANGELES, CA (California ... continue reading


191 THOUSAND mining jobs lost since September '14 Watch

Image of With less coal, the US will need to turn to other countries (Pinterest).

By Kenya Sinclair (CALIFORNIA NETWORK)

Coal provides a cheap and efficient source of power - and the United States has lost 191,000 miners to provide this commodity. LOS ANGELES, CA (Catholic Online) - According to the <a href=http://www.bls.gov/news.release/pdf/empsit.pdf>Bureau of Labor ... continue reading


Obama brags in face of economic failure Watch

Image of The Obama administration claims the economy is thriving - but what is REALLY going on (TPNN)?

By Kenya Sinclair (CALIFORNIA NETWORK)

We all know "that guy." You know the one - the guy who is obsessed with conspiracy theories and who swears the government is out to get us. Well, according to newly released economic data, "that guy" might be (partially) right. LOS ANGELES, CA (Catholic Online) - U.S. ... continue reading


Yes, there's definitely something wrong with millennials, and here's what it is! Watch

Image of As far as millennials are concerned, the American dream is just that -- you have to be asleep to believe it.

By Marshall Connolly (CALIFORNIA NETWORK)

Across the country, the news is shocking. Over half of the millennials think socialism might be a good thing. Most of them believe the American dream is a myth, and public perception is that something is wrong with them. Why do they just want "free stuff?" LOS ANGELES, ... continue reading


Billionaire Soros warns China is near economic collapse Watch

Image of China's economy may be heading for trouble.

By Marshall Connolly (CALIFORNIA NETWORK)

Billionaire George Soros is sounding the alarm, China is about to go down and the rest of the world could follow. According to Soros, there is a major resemblance between China now and the United States in 2007-2008 just before the U.S. economy entered the Great ... continue reading


All Business & Economics News

Newsletters

Newsletter Sign Up icon

Stay up to date with the latest news, information, and special offers

Subscribe to Catholic OnlineYouTube Channel

the FEED
by Catholic Online

  • Daily Readings for Monday, May 30, 2016
  • Daily Reading for Wednesday, June 1st, 2016 HD Video
  • St. Joan of Arc: Saint of the Day for Monday, May 30, 2016
  • How much did Goldman Sachs' CEO invest in hedge fund?: Hillary ...
  • Advent Prayer HD Video
  • Alabama Supreme court recognizes same-sex adoption
  • 100k Americans work for China as China continues to purchase major US ...

Daily Readings

Reading 1, Second Peter 1:2-7
2 Grace and peace be yours in abundance through the knowledge of our ... Read More

Psalm, Psalms 91:1-2, 14-15, 15-16
1 You who live in the secret place of Elyon, spend your nights in the ... Read More

Gospel, Mark 12:1-12
1 He went on to speak to them in parables, 'A man planted a vineyard; he ... Read More

Saint of the Day

Saint of the Day for May 30th, 2016 Image

St. Joan of Arc
May 30: St. Joan of Arc is the patroness of soldiers and ... Read More