IMF Chief Is Talking Like Roubini, Says There’s Risk of “Lost Decade”

Nov 9, 2011
J. Webster
Comments Off on IMF Chief Is Talking Like Roubini, Says There’s Risk of “Lost Decade”

Good God. If the mere thought of Berlusconi resigning as Prime Minister of Italy can send the stock market soaring, you’d think that such a dreary and negative quote from the head of the International Monetary Fund, Christine Lagarde, where she utters the phrase, “lost decade”, it will surely send the stock market swooning tomorrow. We’ll see though. As is often the case in the market, what means up actually means down and what means down usually means up. Yeah, it’s like that.

“There are clearly clouds on the horizon,” Lagarde said. “Clouds on the horizon particularly in the advanced economies and particularly so in the European Union and the United States.”

“Our sense is that if we do not act boldly and if we do not act together, the economy around the world runs the risk of downward spiral of uncertainty, financial instability and potential collapse of global demand… we could run the risk of what some commentators are already calling the lost decade.” (CNBC)

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