IMF announce that the end is nigh - time to double dip that recession
The International Monetary Fund has just announced that the end is nigh. That's right, the four horsemen of the Financial Apocalypse, are galloping our way as the low tax deregulation Milton Friedman Free Market dogma that crashed the 2008 global economy finally brings all the vampire chickens of death home to roost.
Turns out all that corporate debt our Governments picked up as Sovereign Debt won't work after all. That sharp pain your feeling in your stomach right now is Adam Smiths invisible hand punching you in the guts.
Note though even the IMF's gloomy forecast is best case scenario. They predicted 2.5% US growth this year, now they are forecasting 1.5%, and that 1.5% will only happen if the US can lift it's current weak growth rate of .7%, so actually, it can get worse, a lot worse.
Who other than John Key sells precious assets off in a market as turbulent as this?
Why we are adopting more free market ideology when that free market ideology just blew its brains out all over the floor?