Look at these chicken littles at the International Monetary Fund:
The world has a 25 per cent chance of tipping into recession this year and next, and countries in trouble should pull out all their policy stops to make sure it doesn’t materialize, the International Monetary Fund says.
The global expansion which has endured for years is now at risk because the U.S. slowdown will likely stick around well into 2009, the IMF projects in its latest global economic forecast.
Canada’s economy will muddle through, however, with sub-par growth, the forecast suggests.
“The global expansion is losing speed in the face of a major financial crisis,” the IMF warns in its global economic outlook, released Wednesday morning in time for this weekend’s high-profile meeting of economic policy makers in Washington.
You know what you need to do. Go out there and buy more stuff! Take on more debt, get all the credit you can and together we can keep this thing from falling off the rails. Why are you just sitting there? Get out there and buy something!!
