WHY are they TRYING to hide the IMF ? A SECRET MEETING perhaps ?
Is this where PRESIDENT TRUMP was supposed to speak at? I had to go to youtube russia to get this. MAYBE our new economy is coming forward ?
BREAKING: IMF CHIEF SAYS WORLD IN ON THE BRINK OF ANOTHER GREAT DEPRESSION
ZERO-HEDGE.COM IMF Chief Warns Global Economy Faces New “Great Depression” The new head of the IMF, who took over from Christine Lagarde in November, warned that the global economy could soon find itself mired in a great depression. During a speech at the Peterson Institute, IMF Chairwoman Kristalina Georgieva compared the contemporary global to the “roaring 20s” of the 20th century, a decade of cultural and financial excess that culminated in the great market crash of 1929. According to the Guardian, this research suggests that a similar trend is already under way, and though the collapse might not be around the corner, when it comes, it will be impossible to avoid. While the inequality gap between countries has closed over the last two decades, the gap within most developed countries has widened, leaving millions more vulnerable to a global downturn than they otherwise would have been. In particular, she singled out the UK for criticism: “In the UK, for example, the top 10% now control nearly as much wealth as the bottom 50%. This situation is mirrored across much of the OECD (Organisation for Economic Co-operation and Development), where income and wealth inequality have reached, or are near, record highs.” She also warned about the potential for climate change to become a bigger obstacle for humanity, while increased trade protectionism instills more volatility in markets. She added: “In some ways, this troubling trend is reminiscent of the early part of the 20th century – when the twin forces of technology and integration led to the first gilded age, the roaring 20s, and, ultimately, financial disaster.” She warned that fresh issues such as the climate emergency and increased trade protectionism meant the next 10 years were likely to be characterised by social unrest and financial market volatility. “If I had to identify a theme at the outset of the new decade, it would be increasing uncertainty,” she said. Of course, the IMF isn’t the first institution to try and gird the global financial system against the affects of climate change. It also isn’t the first international institution to warn Britain about the possible economic fallout from Brexit. This is further evidenced by the fact that, every time the Fed has tried to wean the American economy off of rock-bottom interest rates or the central bank’s ever-expanding balance sheet, markets have reacted with fury. And it was no surprise to us Monday that the IMF slashed the global economic outlook for 2019 to 2.9% in October, the lowest since the financial crisis, and warned that global trade growth is “close to a standstill.” Having considered all of this, we’d like to present another scenario: if Trump loses in November, and the Fed regains the courage to raise interest rates now that President Trump isn’t around to publicly browbeat and humiliate them, that might be enough to send markets into a tailspin, even if the Dems take the ‘market friendly’ road and nominate Joe Biden. Baltic Dry Continues Epic Plunge As IMF Slashes Global GDP Forecast The Baltic Exchange’s main sea freight index hit a nine-month low on Monday, dragged down by falling rates of capesize and panamax segments as world trade continues to slump. The Baltic Dry Index, which tracks rates for capesize, panamax and supramax vessels that ferry dry bulk commodities across the world, dropped 25 points, or 3.3%, to 729 (according to Refinitiv data), the lowest level since April 2019: In the last four months, the Baltic index has crashed 70%, the most since 2008, and has confirmed our slowbalisation thoughts. The Baltic Dry Index is seen as a leading indicator that provides a clear view of the global demand for commodities and raw materials.
Brexit and trade war risks have eased. Mário Centeno at Eurogroup meeting Press Conference
Brexit and trade war risks have eased – Eurogroup. Portugal’s Finance Minister and President of the Eurogroup Mario Centeno stated on Monday that the euro area economy is decelerating, but continues to grow, as the number of created jobs is “breaking records.” Centeno said that the biggest geopolitical risks in the second half of 2019, Brexit and the trade war between the United States and China, have eased, adding the top priority of the Eurogroup remains the implementation of the reforms in the area. #Eurogroup #Portugal #Centeno #PaoloGentiloni #ECOFIN Last year, Eurozone’s finance ministers reached an agreement regarding the budget of the monetary union, stating it should stand at around €17 billion, and added the deal will be finalized in the next two years. Euro zone finance ministers have agreed to spend more “where possible” to counter the single currency area’s economic slowdown and rising downside risks to the economic outlook, their chairman Mario Centeno said on Thursday. Eurogroup’s Centeno has been reported saying that some uncertainties surrounding Brexit and trade have lessened. What is being referred to is unclear. it was only yesterday, that a news in the Finacial Times and reported in the Independent also made for an opening bearish gap in cable at the start of Asia yesterday when focussing on comments quite to the contrary from the UK’s Finance Minister, Sajid Javid, who admitted businesses will be hit by Brexit as he fired off a warning to manufacturers that “there will be no alignment” with EU rules. Today, EU finance ministers of the eurozone met on 20 January 2020, in Brussels, a presser passed although there have not been wires related to Brexit thus far. GBP is unchanged on this headline, 0.05% on the day at the time of writing, weighed by dovish Bank of England prospects. “We agreed that if there is a more marked downturn, we should not tighten our policies and make it worse. Where possible, our fiscal stance should be more accommodative,” he said. Good afternoon and happy new year. A relatively calm agenda today. No alarms and no surprises. First of all, we welcomed some new members to the group: Gernot Blümel from Austria, Katri Kulmuni from Finland, and Constantinos Petrides from Cyprus. Also, minister Nadia Calviño from Spain has been reappointed. Since there has been a change of government in Austria, Finland and Spain, these Ministers presented the priorities of their new administrations. In the case of Cyprus, minister Petrides confirmed that the policy priorities will remain unchanged. We invited the IMF to report on its interim mission to the euro area in the context of its Article IV consultation. We broadly agree on the economic outlook and the risks going forward. The economy is in the midst of a slowdown, but continues to grow. In fact, the length of the growth period and the number of jobs we have added are breaking all records. While risks remain tilted to the downside, some of the most urgent risks have abated slightly since the Fund last reported to us in June. In particular, some of the uncertainty surrounding Brexit and the risk of an outright global trade war has diminished. The Fund also commented on policy priorities for the euro area – this links to another item of our agenda because today the Commission presented to us its proposals for recommendations on the economic policy of the euro area for 2020. We had an initial discussion on these priorities today. Ministers highlighted a few issues such as green budgeting as a tool to support the climate transition; the need for growth-friendly policies, namely through a focus on digitalisation; financial integration; and the need to continue with euro area reform. We will debate these priorities in more detail in our February meeting. —— On strengthening the Banking Union, including EDIS, the Leaders invited us to continue the constructive work of the past months. Today we also confirmed the importance of the package approach to enable progress in all areas in parallel towards June. On the budgetary instrument for convergence and competitiveness, Leaders gave us a mandate to provide a swift contribution on the appropriate solutions for its financing, in time for decisions in the context of the MFF. This is a priority for our work over the coming weeks. We are working on the basis of the term sheet we agreed last October. Our intention is to provide a report on the need, the content, the modalities and the size of a possible IGA. That rounds-up our discussions from today. The mood around the table was constructive and business-like. So I am optimistic that in this semester we will change gears in the euro area reform.
ARE they calling the GLOBALIST G20 the B20 now ?