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The world economy "remains on life support" from central banks and has deteriorated since last autumn, the latest Brookings Institution-Financial Times tracking index shows, despite some recent signs of stabilisation.
Economic weakness extends across the Group of 20 leading economies, according to the TIGER (Tracking Indices for the Global Economic Recovery) index, but advanced economies have deteriorated more than developing countries.
The index provides support for the message Christine Lagarde, managing director of the International Monetary Fund, sent last week that although there has been some improvement since the turn of the year, "the risks remain high, the situation fragile".
Professor Eswar Prasad of the Brookings Institution said: "The global economic recovery is still sputtering due to a lack of robust demand, policy tools that are stretched to their limits and unable to muster much traction, and enormous risks posed by weak financial systems and political uncertainty."
The real economy component of the index has been hard hit as growth prospects in Europe, already fragile after the 2011 crisis, have been further undermined by brutal austerity plans in many countries. "This is stifling growth, worsening debt to GDP ratios in the short run, and generating an unsustainable political situation at the domestic and pan-European levels," Prof Prasad said.
But it is not just the advanced economies that are suffering. The growth outlook in emerging markets has also deteriorated with industrial output falling short of expectations in all of the Bric countries -- Brazil, Russia, India and China.
"The burden of sustaining world growth is taking a toll on emerging market economies," Prof Prasad said.
With growth forecasts worse than six months ago, the upturn in confidence will need to be reflected in real recoveries soon if such confidence is likely to continue.
The World Economy is ready to TANK...big time.
Let me put all this into perspective for you folks, in a more lay mans language:
if you folks think this so far has been a royal "but F ing", think again, cause it was only the foreplay!!!
And! I just hate to say, the big crash is just around the corner, it's not man made, so it's hard to say just what day it's going to be, but I can say soon,
I sense the exact same thing...
Originally posted by surrealist
The global economic recovery is still sputtering due to a lack of robust demand