IMF Chief Christine Lagarde Warns US Of Worldwide Effects Of Fiscal Cliff -- The Guardian
On CNN's State of the Union, monetary fund boss says improvements on employment and debt would be negated. International Monetary Fund chief Christine Lagarde has warned the US it has the potential to be its "own worst enemy" over the fragile economic recovery and that failure to reach a comprehensive settlement over the fiscal cliff could see growth plummet to zero. In forthright comments over the impending fiscal cliff, the IMF managing director said that "if the US economy was to suffer the downside risk of not reaching a comprehensive deal, then growth would be zero". The markets would react quickly, "and the stock market would take a hit," she said.
My Comment: As I mentioned in this earlier post .... the future does not look rosy. As to IMF Chief's Christine Lagarde point of view .... I am not impressed .... it is people like her that got us into this mess to begin with .... and she is now making proposals on how to get out?
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