Impending Stock Market Crash: Time Is Short, Too Many Problems To Solve. The Fiscal Cliff Negotiations Are Failing. If US Can’t Avert Fiscal Cliff, Everything Will Collapse!
December 9th, 2012
IMF Chief Christine Lagarde Warns U.S. of Worldwide Effects of Fiscal Cliff
International Monetary Fund chief Christine Lagarde has warned the US it has the potential to be its “own worst enemy” over the fragile economic recovery and that failure to reach a comprehensive settlement over the fiscal cliff could see growth plummet to zero.
In forthright comments over the impending fiscal cliff, the IMF managing director said that “if the US economy was to suffer the downside risk of not reaching a comprehensive deal, then growth would be zero”. The markets would react quickly, “and the stock market would take a hit,” she said.
All the current signs of optimism over the economy that she identified – including falling unemployment, the housing sector bottoming out and reduced household debt – would be negated.
Income tax will exceed 50% in California, Hawaii, and New York City
A Credit Rating Downgrade And A Market Collapse Coming In Weeks: Wealthy Fleeing France, UK, U.S. As The Country Is Entering An Era Of Fiscal Austerity And Tax Rates Becoming Unbearable, Fiscal Cliff Deal Looking Increasingly Unlikely, And Economic Growth In Advanced Economies Is Essentially Over!
Moody’s: It’s deal or die