Discussion in 'Economy' started by Truthmatters, Feb 8, 2009.
George Washington's Blog: It's More or Less Official: We're In a Global Depression
you can't fix stupid.
Actually, its not the IMF that said this. It is the head of the IMF in a speech opining on the state of the economy. The IMF publishes a yearly economic outlook every Spring. They have not published their "official" outlook yet.
just more proof her name should be truthnevermatters
Why go to George Washington's Blog, when you can go to the source?
Here is a text of the actual speech.
He doesn't actually use the word "depression", but certainly doesn't paint a rosy picture of the world economy.
Do you know the difference? Here it is:
When you hear that people are losing their jobs, that is an economic downturn.
When friends and family start losing jobs, that is a recession.
When you lose your job, that is a depression.
There, now you know the difference.
The engine which drove the newly emerging industrial economies, the AMERICAN CONSUMER, is tapped out.
Gee, wonder why?
The economy is growing... You do realize that we cant possibly be in a depression while the economy is growing dont you?
Nah, I just think she made a mistake. I've seen experts making the same mistake saying the same thing today.
The US economy is declining.
BEA: News Release: Gross Domestic Product
Separate names with a comma.