Most Prestigious Financial Agencies Say Global Economy Is In Real Trouble
WashingtonsBlog.com
October 1, 2014
Bad Government Policy Has Made It Likely We’ll Have a New Financial Crisis
The head of the world’s most prestigious financial body, the “Central Banks’ Central Bank” – The Bank for International Settlements – said recently the global financial system is currently “more fragile” in many ways than it was just prior to the collapse of Lehman Brothers, and that debt ratios are now far higher.
The World Bank, the highly-regarded Organization for Economic Co-operation (OECD) and Development and the International Labor Organization jointly warned that “there is a global jobs crisis“, and that the weak labor market performance is also threatening economic recovery because it is constraining both consumption and investment, since “Jobs are a foundation for economic recovery.”
And the recent edition of the Geneva report – “an annual assessment informed by a top drawer conference of leading decision makers and economic thinkers” – finds that the “poisonous combination” of spiraling debts and low growth could trigger another crisis. The report also notes:
Contrary to widely held beliefs, the world has not yet begun to de-lever and the global debt to GDP ratio is still growing, breaking new highs.
The Rest…HERE
