Finance officials: Global economy turns the corner

[Omaha Steve]

Source: AP-Excite

By MARTIN CRUTSINGER and HARRY DUNPHY

WASHINGTON (AP) - The world's top finance officials expressed confidence Saturday that the global economy finally has turned the corner to stronger growth. This time, they may be right.

Despite challenges that include market jitters about the Federal Reserve's bond-buying slowdown and global tensions over Ukraine, policymakers said they believe there is a foundation for sustained growth that can provide jobs for the millions of people still looking for work five years after the worst recession since the Great Depression of the 1930s.

"Creating a more dynamic, sustainable, balanced and job-rich global economy remains our paramount collective goal," the policy-setting panel of the 188-nation International Monetary Fund said in a concluding communique.

IMF Managing Director Christine Lagarde and the finance ministers who sit on the IMF's policy panel said they believed the world had entered a new phase with stronger growth that will begin to make in-roads into unemployment that remains painfully high in many nations.

FULL story at link.


Read more: http://apnews.excite.com/article/20140412/DAD4RKVO0.html

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International Monetary Fund (IMF) Managing Director Christine Lagarde show photographers IMF anniversary cookies as IMFC Chair Tharman Shanmugaratnam looks on, Saturday, April 12, 2014, during the International Monetary and Financial Committee (IMFC) meeting at World Bank Group-International Monetary Fund Spring Meetings in Washington. ( AP Photo/Jose Luis Magana)

[onehandle]

1. I agree. The one percent of the one percent are doing pretty damn well. nt

[dixiegrrrrl]

2. I put stories like this in a special file

I call it the "no one could have foreseen" file, after Condi.
Bernake's famous remark in 2008 is in there.." the housing crisis will be contained at the sub-prime market level"
or words to that effect, as the housing market bubble exploded over his head.
Wonder what he said about the dot-com bust back in '99?
there is also the Mission Accomplished pic.
and Rumsfeld's quote of how the Iraq war won't cost the american taxpaeyrs one red cent.

[Brigid]

3. I'll believe it when . . .

When wages start rising and we're not fighting one another like starving rats over shitjobs.

Anybody else get the feeling that the global 1% have come to the conclusion that they've finally pushed the rest of us as far as they dare on jobs and wages without inciting outright rebellion?

[CatholicEdHead]

4. Intresting about the US's part in the global economy

The United States came in for criticism at the meetings. The IMF statement said officials were "deeply disappointed" with the continued delay in congressional approval of the legislation to provide expanded loan resources to the IMF to help countries in trouble.

The IMF said that if the Congress failed to pass the measure by year's end, it would explore other options. Officials said those options could weaken America's ability to influence the global economy and lead to a more fragmented world.

Given the current Republican House, there is little chance of the IMF getting any support from us to lend to other economies. Our economy is still in rough shape and if the plan is greater US exports, it will do little good domestically as those profits go into international corporations and the average worker will see little to no gain, but the stock market and the elite few who own enough to do something with it will skim the extra profits off the top.

[blkmusclmachine]

5. The 1% are doing very well, thank you.

[Helen Borg]

9. They are, with the exception that...

When the remaining 99% of people start getting out of control because of the lack of resources, the 1% won't continue doing so well either.

[MannyGoldstein]

6. I can haz green shootz?

This is Summer of Recovery again?

[Joe Shlabotnik]

7. You can have IMF cookies.

[cprise]

8. Handed out by Victoria Nuland

And baked with the fracking gas the Ukraine is about to cough up in order to pay back that IMF loan / austerity ripoff.

[fasttense]

10. Austerity for all, luxury for a handful of uber rich.

Now that's an economic recovery?