Wednesday, June 9, 2010

IMF: Global Economy At Risk - Contradicts Bernanke

Although his name wasn't mentioned, Ben Bernanke essentially received a rebuke from one official from the IMF, who said risks to the global economy have 'risen significantly.'

While it could be a coincidence, it's doubtful when taking into account it came a day after Bernanke's irresponsible comments that the U.S. economy is doing okay, although it'll take some time to recover strongly.

IMF deputy managing director, Naoyuki Shinohara, said this, “After nearly two years of global economic and financial upheaval, shockwaves are still being felt, as we have seen with recent developments in Europe and the resulting financial market volatility. The global outlook remains unusually uncertain and downside risks have risen significantly.”

So to say America is puttering along at a decent pace in light of this is ludicrous, and ultimately dishonest of Bernanke, who knows better, and is still trying to salvage his legacy, which is sure to be horrid for what he's done to the economy and debt load of the United States through his policies at the Federal Reserve.

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