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Showing posts from January 24, 2013

BBC News - IMF: Global economic recovery 'weakening'

http://m.bbc.co.uk/news/business-21164752

IMF: Global economic recovery 'weakening'23 January 2013 Last updated at 16:51 Continued troubles in the eurozone have weighed on global economic growth The International Monetary Fund (IMF) has warned again of a weakening global economic recovery despite government efforts to stimulate growth.The global economy is likely to grow at a slower rate than previously forecast over the next two years, the organisation said in its latest report.It said it now expected the eurozone to remain in recession in 2013, having previously predicted growth.The UK's growth forecasts have also been revised down. The IMF said continued problems in the eurozone were weighing on the global economy. "The euro area continues to pose a large downside risk to the global outlook," the IMF report said. "In particular, risks of prolonged stagnation in the euro area as a whole will rise if the momentu…

LA Times - Investors say U.S. fiscal woes pose biggest risk to global economy

http://touch.latimes.com/#section/-1/article/p2p-74133894/

Investors say U.S. fiscal woes pose biggest risk to global economyCarolyn Kaster / Associated PressPresident Obama, with House Speaker John Boehner (R-Ohio), speaks to reporters in the White House in Washington during a meeting last year to discuss the deficit and economy. By Jim Puzzanghera January 23, 2013, 9:06 p.m. WASHINGTON -- Investors around the world say the fiscal woes of the U.S. -- highlighted by the ongoing fight over the debt limit -- pose the biggest risk to the global economy this year, according to poll results released Wednesday.More than a third of the respondents in the Bloomberg Global Poll -- 36% -- said the troubles in Washington addressing the huge U.S. budget deficit were their biggest concern. That topped the European debt crisis at 29% and the slowing of China's economy at 15%.Although the poll found the divisive political atmosphere was chilling investment in the U.S., the nation still easily ranked…

CEO of JPMorgan says you don't need to know how banking works, it's like an airliner engine, too complex to explain, just shut up and pay us. - AgainstCronyCapitalism.org

http://www.againstcronycapitalism.org/2013/01/ceo-of-jpmorgan-says-you-dont-need-to-know-how-banking-works-its-like-an-airliner-engine-just-shut-up-and-pay-us/

CEO of JPMorgan says you don't need to know how banking works, it's like an airliner engine, too complex to explain, just shut up and pay us.Jamie Dimon in Davos Switzerland today explaining why people don't need to know what's going on in the banking world. It's too "complex." Just know that their fee comes from managing this ball of financial confusion. And that's all you need to know.There, don't you feel better? I mean it's not like the world bailed out the whole banking system or anything. We should have faith. About Nick Sorrentino Nick Sorrentino is the co-founder and editor of AgainstCronyCapitalism.org. A political and communications consultant with clients across the political spectrum, he lives just outside of Washington DC where he can keep an eye on Leviathan.