{"id":39278,"date":"2018-10-17T07:07:56","date_gmt":"2018-10-17T12:07:56","guid":{"rendered":"http:\/\/olduvai.ca\/?p=39278"},"modified":"2018-10-17T07:08:11","modified_gmt":"2018-10-17T12:08:11","slug":"imf-issues-dire-warning-great-depression-ahead","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=39278","title":{"rendered":"IMF Issues Dire Warning \u2013 \u2018Great Depression\u2019 Ahead?"},"content":{"rendered":"<header>\n<h3 class=\"gc-News-article-title\"><a href=\"https:\/\/news.goldcore.com\/ie\/gold-blog\/imf-issues-dire-warning-great-depression-ahead\/\">IMF Issues Dire Warning \u2013 \u2018Great Depression\u2019 Ahead?<\/a><\/h3>\n<\/header>\n<div class=\"gc-News-article-text gc-ArticleContent\">\n<aside id=\"mw_widget_naked_text-171\" class=\"widget clearfix widget-mw-naked-text nostyling \"><\/aside>\n<p><strong>\u2013\u00a0\u201cLarge challenges loom for the global economy to prevent a second Great Depression\u201d warn IMF<br \/>\n\u2013\u00a0Massive government debts and eroded fiscal buffers since 2008 suggest global dominos await a single market crash<br \/>\n\u2013\u00a02008 crisis measures cast long, dark \u201cterrifying\u201d shadow<\/strong><\/p>\n<p><img decoding=\"async\" class=\"i-amphtml-fill-content i-amphtml-replaced-content\" src=\"https:\/\/news.goldcore.com\/ie\/wp-content\/uploads\/sites\/19\/2018\/10\/global-financial-stability-report.jpg?x78236\" sizes=\"(min-width: 640px) 640px, 100vw\" \/><\/p>\n<p>Is another \u201cGreat Depression\u201d on the horizon?<\/p>\n<p>It would be easier to dismiss these words from Nouriel Roubini, Marc Faber or other doom-and-gloom prognosticators. Coming from Christine Lagarde\u2019s team, though, they take on a new dimension of scary.<\/p>\n<p>The International Monetary Fund head isn\u2019t known for breathlessness on the world stage. And yet the IMF sounded downright alarmist in its latest Global Financial Stability report, stating that \u201clarge challenges loom for the global economy to prevent a second Great Depression.\u201d<\/p>\n<p>Even some market bears were taken aback. \u201cWhy,\u201d asks Michael Snyder of The Economic Collapse Blog would the IMF use this phrase \u201cin a report that they know the entire world will read?\u201d<\/p>\n<p>Perhaps because, unfortunately, the findings of other referees of global risks \u2013 including the Bank for International Settlements \u2013 hint at similar dislocations.<\/p>\n<p>Ten years after the Lehman Brothers crisis, these worrisome warnings that will be explored in depth at this week\u2019s annual IMF meeting in Bali. The tranquil setting, though, will offer few respites from cracks appearing in markets everywhere \u2013 from Italy to China to Southeast Asia, where currencies are cratering like it\u2019s 1998 again.<\/p>\n<p><img decoding=\"async\" class=\"i-amphtml-fill-content i-amphtml-replaced-content\" src=\"https:\/\/upload.wikimedia.org\/wikipedia\/commons\/thumb\/5\/54\/Lange-MigrantMother02.jpg\/260px-Lange-MigrantMother02.jpg\" sizes=\"(min-width: 260px) 260px, 100vw\" \/><br \/>\n<strong>Source: Wikipedia<\/strong><\/p>\n<p><strong>Potential flashpoints and a long line of dominos<\/strong><\/p>\n<p>Italy is the current flashpoint \u2013 and the latest target of \u201cdomino effect\u201d chatter in frothy world markets. China\u2019s shadow-banking bubble, and the extreme opacity and regulations that enable it, also came in for criticism. And, of course, the 800-pound beast in any room where global investors gather these days: Donald Trump\u2019s assault on world trade.<\/p>\n<p>\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>IMF Issues Dire Warning \u2013 \u2018Great Depression\u2019 Ahead? \u2013\u00a0\u201cLarge challenges loom for the global economy to prevent a second Great Depression\u201d warn IMF \u2013\u00a0Massive government debts and eroded fiscal buffers since 2008 suggest global dominos await a single market crash \u2013\u00a02008 crisis measures cast long, dark \u201cterrifying\u201d shadow Is another \u201cGreat Depression\u201d on the horizon? [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[2490,15907,195,22365,5613,380,383,418,434,22364],"class_list":["post-39278","post","type-post","status-publish","format-standard","hentry","category-economics","tag-2008-financial-crisis","tag-asia-times","tag-debt","tag-global-financial-stability-report","tag-goldcore","tag-government-debt","tag-great-depression","tag-imf","tag-international-monetary-fund","tag-william-pesek"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/39278","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=39278"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/39278\/revisions"}],"predecessor-version":[{"id":39279,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/39278\/revisions\/39279"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=39278"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=39278"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=39278"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}