July 18, 2024

real estate market directionThe International Monetary Fund cut its forecast for global growth this year and said there's a 25% chance of a world recession, citing the worst financial crisis in the US since the Great Depression. Also, according to a document titled "IMF Background Paper on the Update of the Global and Regional Outlook," the world economy will expand just 3.7% in 2008, the slowest pace since 2002. In January, the fund projected growth of 4.1%. The IMF gave a 25% chance that global growth will drop to 3% or less in 2008 and 2009, a pace the fund described as equivalent to a world recession. "Growth in the US and Europe is slowing sharply," the IMF document said.   San Diego real estate sales agents

6 thoughts on “25% Chance of a World Recession

  1. Pingback: www.buzzflash.net
  2. The downturn during the 1970s was caused primarily by Richard Nixon’s faulty economic policy. Among other things the imposition of widespread wage and price controls caused the extended recession of the 1970s we refer to today as stagflation. Oil prices played a role but it was the governments response that truly put the United States over the edge. Unless the Government takes draconian measures like Nixon did to insulate the economy it doesn’t make sense to compare today’s situation to that of the 1970s.

    Lenny
    San Diego California Brokerage

  3. If I predict recession every year I will get it right eventually.My understanding of economics is that something either goes up or it goes down. There are 50-50 odds to guess right. Some may guess 60% right but will eventually revert back to the mean. Its too bad this is a time when the system has been raped for every nickel and dime for the next few years.

    Alex
    San Diego Real Estate Agents

  4. “UCLA predicts that GDP will dip by 0.4% in the second quarter of this year, but then rebound. Anderson expects GDP to be growing at 2.5% by the end of this year.

    In staking out the contrarian position, UCLA bucked other forecasters in 2001 by correctly predicting that year’s recession.”

    Christina
    San Francisco California Law

Comments are closed.