Roberto Abraham Scaruffi: IMF economist warns of "Great Depression"

Monday, 29 December 2008

IMF economist warns of "Great Depression"

The top economist at the International Monetary Fund, Olivier Blanchard, warned earlier this week that continued declines in consumer spending would set off a global depression. "Consumer and business confidence indexes have never fallen so far since they began. The coming months will be very bad," he told the French newspaper Le Monde, as reported by Agence France-Presse.