Global Recession Coming – Even “Powerhouse” Germany and UK Slow “Dramatically”
By: GoldCore
GoldSeek.com
Friday, 9 October 2015
– IMF warn of “fresh financial crisis”
– German exports fall 5.2%, largest slump since recession of 2009
– German imports also fall 3.1%
– Many sectors across German economy see unexpected declines in factory orders and industrial production
– UK Chief Financial Officers (CFOs) report sharp rise in uncertainty
– UK PMI has fallen to lowest level since April 2013
– Hope for the best but be prepared for less benign scenarios
The IMF have been growing more vocal in recent weeks about the possibility of another financial crisis and severe recession. The head of financial stability at the IMF, José Viñals has said that this outlook “does not rely on extreme assumptions at all”.
IMF head, Christine Lagarde has said that the slow down now being seen in China and other large emerging markets will cut economic growth globally back to levels last seen during the crisis of 2009.
Viñals added “If we don’t get it right we could set the clock back in terms of growth.”
In its financial stability report the IMF said:
“Shocks may originate in advanced or emerging markets and, combined with unaddressed system vulnerabilities, could lead to a global asset market disruption and a sudden drying up of market liquidity in many asset classes.”
Just this week, we covered the similar stark warning from the BIS, the central bank of central banks, who warned of “major fault lines” in the global financial system and a “global debt bubble“.
The Rest…HERE
