I've got a lot of catching up to do following my nice, relaxing, ISOLATED vacation. I've got close to a thousand posts to read on the different boards, and a VP debate to watch, so I'm a bit out of synch right now. I'll just say that I hope this story hasn't already been posted.
Global Economy Distress 3.0 Looms as Emerging Markets Falter
By Simon Kennedy - Oct 15, 2012 6:55 AM ET
Bloomberg.com
The global economy is facing its third major brake on expansion in five years as emerging markets slow from China to Brazil, provoking debate about how much policy makers should respond.
Three years after industrializing nations led the world out of the U.S. mortgage meltdown-induced recession, the reliability of the power source is waning as Europe’s debt crisis persists. The International Monetary Fund sees them growing an average 5.8 percent in the half-decade through 2016, almost two percentage points less than the five years before the 2009 slump.
Finance chiefs at the IMF and World Bank annual meetings left Tokyo this weekend at odds over how to address the issue, with South Korea’s central bank chief urging Asia to add stimulus as Russia and Brazil called on rich nations to fix their own challenges. At stake is a world economy Bank of Israel Governor Stanley Fischer calls “awfully close” to recession.
Full story, and video: http://www.bloomberg.com/news/2012-10-14/global-economic-distress-3-0-looms-as-emerging-markets-falter.html
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months
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