International Monetary Fund's chief economist Olivier Blanchard interview on Reuters - GoFuckYourself.com

xmas13 · 10-11-2008, 03:20 PM

http://www.reuters.com/article/gover...36298520081011

ROME, Oct 11 (Reuters) - In a worst-case scenario, markets could fall at most another 20 percent but there is "practically zero" chance of another Great Depression, the International Monetary Fund's chief economist Olivier Blanchard was quoted as saying on Saturday.

"In a worst-case scenario, governments will need a few more weeks to take the correct measures and the markets could fall another 20 percent. Then, we'll turn around," Blanchard was quoted as saying in Italian daily Corriere della Sera. In Italy, the probability was greater because the euro zone economy was already lagging before the crisis.

He said 100 percent of global growth in 2009 was expected to come from emerging economies and added China would find itself in a stronger position as a result.

"The emerging nations will grow 6 percent next year and that will have political implications. One hundred percent of growth in 2009 will come from them," Blanchard was quoted as saying.

"There will be a shift in power. China will emerge from these events in a stronger position."

xmas13 · 10-11-2008, 03:26 PM

Sorry for the title, I know the man was just quoted and the actual interview given in an Italian daily.

woj · 10-11-2008, 05:18 PM

It's not really obvious if it's good or bad news, another possible 20% down doesn't sound THAT great, especially considering it's around 40% down as is...

Snake Doctor · 10-11-2008, 05:25 PM

Quote:

Originally Posted by woj

It's not really obvious if it's good or bad news, another possible 20% down doesn't sound THAT great, especially considering it's around 40% down as is...

Well I think (and hope) what he means by zero chance of another great depression is that there won't be bread lines and 40% unemployment again....world governments have learned from past experience and will literally nationalize everything if they have to, at least temporarily.

StickyGreen · 10-11-2008, 05:32 PM

Looks like they are going to "internationalize" the financial system even more now, setting the stage for the world government.

10-11-2008, 03:20 PM	#1
xmas13 Confirmed User Join Date: Dec 2004 Location: GFY Posts: 5,176	International Monetary Fund's chief economist Olivier Blanchard interview on Reuters http://www.reuters.com/article/gover...36298520081011 ROME, Oct 11 (Reuters) - In a worst-case scenario, markets could fall at most another 20 percent but there is "practically zero" chance of another Great Depression, the International Monetary Fund's chief economist Olivier Blanchard was quoted as saying on Saturday. "In a worst-case scenario, governments will need a few more weeks to take the correct measures and the markets could fall another 20 percent. Then, we'll turn around," Blanchard was quoted as saying in Italian daily Corriere della Sera. In Italy, the probability was greater because the euro zone economy was already lagging before the crisis. He said 100 percent of global growth in 2009 was expected to come from emerging economies and added China would find itself in a stronger position as a result. "The emerging nations will grow 6 percent next year and that will have political implications. One hundred percent of growth in 2009 will come from them," Blanchard was quoted as saying. "There will be a shift in power. China will emerge from these events in a stronger position." __________________ ICQ 557504926

10-11-2008, 03:26 PM	#2
xmas13 Confirmed User Join Date: Dec 2004 Location: GFY Posts: 5,176	Sorry for the title, I know the man was just quoted and the actual interview given in an Italian daily. __________________ ICQ 557504926

10-11-2008, 05:18 PM	#3
woj <&(©¿©)&> Industry Role: Join Date: Jul 2002 Location: Chicago Posts: 47,882	It's not really obvious if it's good or bad news, another possible 20% down doesn't sound THAT great, especially considering it's around 40% down as is... __________________ Custom Software Development, email: woj#at#wojfun#.#com to discuss details or skype: wojl2000 or gchat: wojfun or telegram: wojl2000 Affiliate program tools: Hosted Galleries Manager Banner Manager Video Manager Wordpress Affiliate Plugin Pic/Movie of the Day Fansign Generator Zip Manager

10-11-2008, 05:32 PM	#5
StickyGreen . Industry Role: Join Date: Oct 2003 Posts: 13,076	Looks like they are going to "internationalize" the financial system even more now, setting the stage for the world government. __________________ Refer Cam Girls and Take Home 10% of Everything They Make For Life