Skip to content
Catholic Online Logo

By Catholic Online (NEWS CONSORTIUM)

10/4/2012 (3 years ago)

Catholic Online (

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."


By Catholic Online (NEWS CONSORTIUM)

Catholic Online (

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'

Copywriter 2015 - Distributed by THE NEWS CONSORTIUM

Pope Francis Prayer Intentions for October 2015
That human trafficking, the modern form of slavery, may be eradicated.
Evangelization: That with a missionary spirit the Christian communities of Asia may announce the Gospel to those who are still awaiting it.


More Business & Economics

Three BILLION barrels of excess oil available now - but is this a good thing? Watch

Image of Inflated inventories and oil wealth has spread globally, from the United States to the developed economies of Europe, and now China, according to the agency.


With the price of gas comfortably lower than $3 a gallon at many gas pumps across the land, consumers are enjoying a price break. The reason behind this windfall is largely because there are now more than three billion barrels of excess oil in the world. This ... continue reading

HARD NEWS HEADED FOR EXTINCTION! Filters turning off certain information imperil journalism Watch

Image of Daily newspapers have gone from nearly 1,800 in 1945 to about 400.


Newspapers, along with print media in general is in rapid decline - while Internet news, groomed and curried for special interest groups is on the rise. The fallout is that hard news, presented objectively is in dire threat of virtual extinction. "Opinion ... continue reading

The 'WAR ON CHRISTMAS' continues as Starbucks' new seasonal cups spark public outrage Watch

Image of Starbucks is the center of a mass controversy when it decided to release plain red cups this holiday season instead of its traditional Christmas and general holiday-themed cups (Rozzieland blogs).


When coffee giant Starbucks released red cups in place of their traditionally holiday-themed cups this winter, Arizona-based evangelist Joshua Feuerstein cried bigotry. LOS ANGELES, CA (Catholic Online) - In a Facebook video rant, Feuerstein wrote, "I think in the age ... continue reading

Pretty much all you could ask for from the month of October - unemployment at five percent, new hires Watch

Image of The 271,000 jump in payroll was surprisingly robust, far better than the Labor Department expected last week.


"It was pretty much everything you could ask for in a jobs report," Michelle Meyer, deputy head of United States economics at Bank of America Merrill Lynch says. Unemployment was at five percent and there were significant job hires for the month of October. ... continue reading

Invest as a Catholic - without selling your soul! Watch

Image of

By Kevin Jones (CNA News)

For Catholics who want to invest in a retirement plan but hesitate for fear of unintentionally supporting causes contradicting their faith, a financial advisor group is now offering a new option. Washington D.C. (CNA) - "We'd like to see every Catholic organization ... continue reading

SOMETHING IS BREWING: Agreement could lead to biggest beer deal - and top five business deals EVER Watch

Image of The prevailing trend among younger beer drinkers is for smaller, more specialized labels from independent breweries. In response, bigger beer brands are struggling to hold on to their market share.


Something big is brewing in the world of brew. AB InBev or Budweiser is offering SABMiller shareholders $67.59 per share. The maker of Miller Lite, Pilsner Urquell and Peroni, this represents a premium of roughly 50 percent over the share price. The agreement, ... continue reading

Overworked Wall Street employees experience seizures, are hospitalized, and have died Watch

Image of John Hughes in Thomas' bedroom (Damon Winter).


Wall Street has always been a very demanding place to work and with recent work-related deaths, it seems that Wall Street must find a way to provide work-life balance to its employees.  NEW YORK CITY, NY (Catholic Online) - Thomas Hughes was a 29-year-old ... continue reading

7 ways to bring your family out of debt Watch

Image of


There are a lot of ways the improper handling of finances can jeopardize you and your family. The cost-of-living continues to get higher yet your income doesn't. How can you make ends meet? LOS ANGELES, CA (Catholic Online) - Fear not! You can regain control of your ... continue reading

3 easy ways to save money and pay off debt Watch

Image of


Work and play, earn and spend -It's the way the economy survives, but what about your survival? If you're having trouble saving money, don't have a dedicated savings account or just don't know how to stop spending, you may have a problem. LOS ANGELES, CA (Catholic ... continue reading

Is the stock market in trouble? Historical market turndowns following papal visits Watch

Image of Papal visits versus the stock market were reviewed.


As Pope Francis visits the United States, historical data of visits from his predecessors to the United States were linked to several market downturns in the US. MUNTINLUPA CITY, PHILIPPINES (Catholic Online) - Pope Francis made his historical visit to the United ... continue reading

All Business & Economics News


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

  • The Miracle Prayer HD Video
  • Happy Thanksgiving Day: Give Thanks with a Grateful Heart
  • Daily Readings for Friday, November 27, 2015
  • UPDATE: Did the U.S. military actually know they were bombing the ...
  • Bet you've never seen a space rocket do THIS!
  • Prayer For Courage HD Video
  • St. James Intercisus: Saint of the Day for Friday, November 27, 2015

Daily Readings

Reading 1, Daniel 6:12-28
12 These men came along in a body and found Daniel praying and pleading ... Read More

Psalm, Daniel 3:68, 69, 70, 71, 72, 73, 74
68 Bless the Lord, dew and snow-storm, praise and glorify him for ... Read More

Gospel, Luke 21:20-28
20 'When you see Jerusalem surrounded by armies, then you must realise ... Read More

Saint of the Day

Saint of the Day for November 26th, 2015 Image

St. John Berchmans
November 26: Eldest son of a shoemaker, John was born at ... Read More