IMF Predicts Global Economic Downtrend

In its “downside scenario,” the fund said that a continued rise in European government borrowing rates and a worsening of problems with the region’s banks would push the world into recession.

“The current environment...provides fertile ground for self-perpetuating pessimism,” the fund wrote.

Their calculations predict the global downward trend in spite of the booming economies of China and India. Want to move there? I don't.

SOURCE
http://www.washingtonpost.com/business/economy/imf-report-global-economy-to-hit-mild-recession/2012/01/24/gIQAWR6SNQ_story.html?wpisrc=al_comboNE_b

QotD: Fool's Wisdom

The fool who persists
in his folly
will become wise.
--William Blake