HockeyDad
15 years ago
IMF cuts U.S. growth forecast, warns of crisis


SAO PAULO (Reuters) - The International Monetary Fund cut its forecast for U.S. economic growth on Friday and warned Washington and debt-ridden European countries that they are "playing with fire" unless they take immediate steps to reduce their budget deficits.

The IMF, in its regular assessment of global economic prospects, said that bigger threats to growth had emerged since its previous report in April, citing the euro zone debt crisis and signs of overheating in emerging market economies.

The global lender forecast that U.S. gross domestic product would grow an anemic 2.5 percent this year and 2.7 percent in 2012. In its forecast just two months ago, it had expected 2.8 percent and 2.9 percent growth, respectively.

The outlook elsewhere was mixed. The IMF said it was slightly more optimistic about the euro area's growth prospects this year, but a lack of political leadership in dealing with that crisis and the budget showdown in the United States could create major financial volatility in coming months.

"You cannot afford to have a world economy where these important decisions are postponed because you're really playing with fire," said Jose Vinals, director of the IMF's monetary and capital markets department.

"We have now entered very clearly into a new phase of the (global) crisis, which is, I would say, the political phase of the crisis," he said in an interview in Sao Paulo, where the forecast was published.
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DrafterX
15 years ago
I blame ethanol.... 😟
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teedubbya
15 years ago
Nuke the IMF, or at least get some chick to frame them.
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DrMaddVibe
15 years ago
The world's key lime water resources are drying up faster than the lending at the local banks!
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RICKAMAVEN
15 years ago
HockeyDad

without our manufacturing base, we never could have armed ourselves to beat germany.

i don't know how much it cost us in money to fight a war in vietnam,
i usually paid attention only to the deaths.

then bush and cheney's war in iraq cost us so much money, our roads and bridges
are crumbling and we don't have the money to repair our infrastructure.

we have a small manufacturing base, thanks to the obama's administration actions.

what else do we make, manufacture, or build.

we have borrowed more then we can handle, we are broke and living on
credit we will never be able to pay because we have no capacity to earn money.

we are a third world country waiting to happen.

we allowed a few people to profit excessively from the wars and we are afraid to tax them extra
for the privilege we gave them to become wealthy without any of them contributing
anything to the country.

when it is no longer feasible to buy politicians, they will take their money with them
as they find other places to live, but certainly not in a country with pot holes in the roads.
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ZRX1200
15 years ago
Rick......plenty of Dems were war hawking before Iraq.

And until something is done about prevailing wage labor roads and bridges will never be fixed enmass.

I do agree about the need for a manufabase though just not unionized labor.
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MTappert
15 years ago
if we could "merc" our military we would be a great exporter. We are really good at fighting wars, and I could see it being profitable for us, if only we could get the countries we are helping to pay us for it.

( I am not saying we should turn our military or part thereof into a mercenary force, I am simply providing a discussion point. )
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MTappert
15 years ago

Rick......plenty of Dems were war hawking before Iraq.

And until something is done about prevailing wage labor roads and bridges will never be fixed enmass.

I do agree about the need for a manufabase though just not unionized labor.

ZRX1200 wrote:





unions had their place about 80 years ago. its time to change... <--- sounds familiar from someone promising me stuff one time.
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HockeyDad
15 years ago

HockeyDad

then bush and cheney's war in iraq cost us so much money, our roads and bridges
are crumbling and we don't have the money to repair our infrastructure.

RICKAMAVEN wrote:




Just a slight point of clarification.....

You tend to imply that our roads and bridges are crumbling because of Bush and Cheney's wars. This is not valid because we did not cut funding from roads and bridges to pay for those wars. We did not divert money from anything else either.

Bush and Cheney's wars, now affectionately known as Obama's wars were paid for by 30 year Treasury notes. We borrowed that money from US citizens, pensions, 401Ks, and foreigners and have not even started to pay it back yet. We are borrowing from the same sources to just make the interest payments on those loans. Your children and grandchildren haven't even begun to see the invoices yet! ....but they will.
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DrMaddVibe
15 years ago

Just a slight point of clarification.....

You tend to imply that our roads and bridges are crumbling because of Bush and Cheney's wars. This is not valid because we did not cut funding from roads and bridges to pay for those wars. We did not divert money from anything else either.

Bush and Cheney's wars, now affectionately known as Obama's wars were paid for by 30 year Treasury notes. We borrowed that money from US citizens, pensions, 401Ks, and foreigners and have not even started to pay it back yet. We are borrowing from the same sources to just make the interest payments on those loans. Your children and grandchildren haven't even begun to see the invoices yet! ....but they will.

HockeyDad wrote:




I think Rickie was just looking in his own yard and driveway.[frypan] You ever see that bridge in his yard? Jeezus! I'm surprised the neighbors haven't called and complained!
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teedubbya
15 years ago

I think Rickie was just looking in his own yard and driveway.[frypan] You ever see that bridge in his yard? Jeezus! I'm surprised the neighbors haven't called and complained!

DrMaddVibe wrote:



that's not a bridge, its a full set of dentures
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DrafterX
15 years ago
Rick has an interstate running through his front yard..?? 😕
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DrMaddVibe
15 years ago
No, but it looks like something a troll would live under!
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JadeRose
15 years ago

Rick has an interstate running through his front yard..?? 😕

DrafterX wrote:




Does he live in a little pink house? Does he think he's got so good?
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teedubbya
15 years ago

No, but it looks like something a troll would live under!

DrMaddVibe wrote:



I don't think Palin lives under his front lawn.
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DrMaddVibe
15 years ago
No...he doesn't allow them anywhere near him.

He's a misogynistic chauvinist pig.
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teedubbya
15 years ago
gazuntite
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DrMaddVibe
15 years ago

gazuntite

teedubbya wrote:




God bless you!

http://tinyurl.com/3fp6dkc 
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topper7788
15 years ago

Just a slight point of clarification.....

You tend to imply that our roads and bridges are crumbling because of Bush and Cheney's wars. This is not valid because we did not cut funding from roads and bridges to pay for those wars. We did not divert money from anything else either.

Bush and Cheney's wars, now affectionately known as Obama's wars were paid for by 30 year Treasury notes. We borrowed that money from US citizens, pensions, 401Ks, and foreigners and have not even started to pay it back yet. We are borrowing from the same sources to just make the interest payments on those loans. Your children and grandchildren haven't even begun to see the invoices yet! ....but they will.

HockeyDad wrote:




Gotta agree with HD on this, our bridges and roads have been neglected for years.... Can't blame the war for that... Now that we didn't use the stimulus money to fund roads and bridges... Well that's another matter entirely..

Guess it was better to give it to the banks!!! [sarcasm]

Thankfully I'm counting on my kid to make lots of money, she is going to have too!!!
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RICKAMAVEN
15 years ago
HockeyDad

i'm sorry, you read what i didn't say or intimate.

i am not aware that we don't have to pay it back yet, if that is what you are suggesting.
i am assuming it is still part of the national debt, unless we have a different credit card
for warr and and infrastructure.

either way, we are falling into disrepair, except in vegas where a quadrillion costing city
in a city is being built with condos selling for up to 10 million dollars.

the government needs to get in the business of running casinos to pay for our needs.
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