Global Financial Crisis: 21/9/11 - IMF warns western economies teetering on the brink of another recession

Rev 6:5-6 And when He had opened the third seal, I heard the third living creature say, Come and see. And I looked, and lo, a black horse. And he sitting on it had a balance in his hand. (6) And I heard a voice in the midst of the four living creatures say, A choenix of wheat for a denarius, and three choenixes of barley for a denarius. And do not hurt the oil and the wine.

This rider represents hunger and famine. The horse he rides is black, a color that describes a famine-racked body.

A scale would be used to measure and carefully dole out food. The denarius was a Roman silver coin equal in value to the daily wage of a working man. There will only be enough food for every day and this will be seen in the financial health of our Global Economy which is due to fail soon.

Wednesday, 21 September 2011

21/9/11 - IMF warns western economies teetering on the brink of another recession

September 21, 2011 – LONDON – Bad policy decisions could condemn the US to a “lost decade”, tip America and the eurozone back into recession, and lead to “stagnation” in the world’s major economies, the International Monetary Fund (IMF) has warned. Cutting its global forecasts sharply, the world’s economic watchdog said the global economy had entered a “dangerous new phase” and urged policymakers to tread a careful line between aggressive deficit reduction and growth. Central banks should stand ready to restart the printing presses to aid the recovery, it added in its twice-yearly World Economic Outlook. “The recovery has weakened considerably. Strong policies are needed to improve the outlook and reduce the risks,” Olivier Blanchard, the IMF’s chief economist, said. “Markets have clearly become more skeptical about the ability of many countries to stabilize their public debt. Fear of the unknown is high.” The warning came as Portugal’s Prime Minister Pedro Passos Coelho said his country may need fresh aid if Greek defaults. “In the case of a default of Greece, this aid could be necessary and it is important that our partners are convinced that it is worth helping Portugal, and in this case, Ireland, too,” he said. Weaker than expected growth in the US, the persistence of Europe’s “sovereign debt and banking sector problems”, high oil prices and the Japanese tsunami conspired to dramatically worsen the outlook since June. Global growth for this year has been revised down from 4.5pc to 4pc in the past three months – led by a one percentage point downward revision in US growth for this year to 1.5pc. Weaker than expected growth in the US, the persistence of Europe’s “sovereign debt and banking sector problems”, high oil prices and the Japanese tsunami conspired to dramatically worsen the outlook since June. Global growth for this year has been revised down from 4.5pc to 4pc in the past three months – led by a one percentage point downward revision in US growth for this year to 1.5pc. -Telegraph

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