13 Responses to IMF warns western economies teetering on the brink of another recession

  1. John Smith says:

    “Teetering on the brink”?! What BS. We’ve been *IN* the abyss for three years with no end in sight — they won’t be happy till they have it all. Someone please remind me to avoid human-populated planets in the future. Thank you.

    Like

    • nickk0 says:

      Get ready to Give Up your savings, your retirement, your homes, your property, cars, luxuries, etc., to the Banks and the Gov’t. someday.

      I am sure that at some point, the Wizards / Banks that helped get us into this mess, will offer us a “solution”.
      Unfortunately, it looks like I may live long enough, to see this happen.

      – Nick

      Like

  2. David says:

    The International Monetary Fund isn’t the ‘world’s economic watchdog’, they are the cause of the world’s economic problems.

    The same elite bankers who control the IMF, control the European Union, the Federal Reserve and the Central Banks of almost every country in the world. And they own the big banks like CitiGroup, Goldman Sachs, JP Morgan, etc.

    They enslave countries into debt with recessions and wars. And they are moving us towards a one-world financial system, which they will control.

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  3. luisport says:

    zerohedge zerohedge
    Market talk that the French state may force a merger or recapitalisation of French banks – unconfirmed – Ransquawk
    há 3 minutos

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  4. luisport says:

    zerohedge zerohedge
    fading the fade: – IMF SEES 300 BLN-EURO CREDIT RISK FOR EUROPE BANKS FROM CRISIS- BBG
    há 34 segundos

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  5. luisport says:

    Just out…

    Bank of America has had its long-term senior debt cut to BAA1 by Moody’s.

    The stock is off about 3%.

    It had been just barely down right before the news hit the wires.

    Here’s the full announcement (also below).

    Some key points:

    The government is more willing now than it has in the past to let banks fail.
    Dodd-Frank spseicifically allows for bondholder haircuts as part of an orderly winddown of a bailing institution.
    The downgrade does NOT reflect an intrinsic weakening of credit quality.
    Something to bear in mind. This ratings action is a followup to a review announced this summer on the matter of government support. That review also covered Citigroup and Wells Fargo so expect statements on them soon. Update: And there Wells!

    Read more: http://www.businessinsider.com/bank-of-america-just-got-downgraded-by-moodys-2011-9#ixzz1YbjYBMn9

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  6. luisport says:

    BreakingNews Breaking News
    Standard & Poor’s downgrades 7 Italian banks because of sovereign debt risk – @AP
    há 6 minutos

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  7. luisport says:

    The announcement is out:

    This is operation twist.

    The Fed is selling $400 BILLION of short-term debt, and buying $400 billion of logn-term debt.

    Markets are drifing a bit lower right Dow.

    Dow off 100 (less than 1%).

    The dollar is higher..

    NASDAQ still green.

    Some are suggesting that they didn’t quite TWIST as much as they could have.

    Read more: http://www.businessinsider.com/federal-reserve-announcement-fomc-operation-twist-2011-9#ixzz1Yc6ASRGY

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  8. luisport says:

    Yesterday stocks got destroyed after the Fed’s announcement of Operation Twist, an announcement that obviously left a lot of market participants wanting.

    Well the market’s falling again.

    All the big US indices are down over 1.3% at the moment.

    Europe’s getting smashed, naturally. Italy is off about 3%.

    France is off 3.7%.

    The only winner? Not gold. Not Swiss Franc. The dollar.

    Not helping things: A fresh batch of bad economic news in both Europe and China. See here for more details on that.

    Read more: http://www.businessinsider.com/stocks-diving-again-after-fed-action-dollar-on-the-rampage-2011-9#ixzz1YfytS3b2

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  9. luisport says:

    Government shutdown imminent
    http://www.latimes.com/news/nationworld/nation/la-na-government-shutdown-20110922,0,1889149.story

    They are out of money, can’t come up with 3.7 billion dollars, the big 3 banks have been downgraded by Moody’s for being moody.

    Bank of America may be insolvent.

    Wells Fargo being downgraded by Standard and Poors for having no business standards and being poor.

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  10. luisport says:

    zerohedge zerohedge
    European Service Activity Contracts For First Time In Two Years As Global Recession Now Ensured http://tinyurl.com/3gkcmku
    há 2 minutos

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  11. luisport says:

    This is not helping French bank stocks today.

    PIMCO’s Mohammed El-Erian has a dramatic post up at FT on the various signs of trouble in French bank land.

    You have reports of banks not trading with French banks. You have equity prices at 50-% of books, and stories about CEOs going around the world for cash.

    Here’s the money quote:

    These are all signs of an institutional run on French banks. If it persists, the banks would have no choice but to delever their balance sheets in a very drastic and disorderly fashion. Retail depositors would get edgy and be tempted to follow trading and institutional clients through the exit doors. Europe would thus be thrown into a full-blown banking crisis that aggravates the sovereign debt trap, renders certain another economic recession, and significantly worsens the outlook for the global economy.

    If Europe doesn’t fix this fast, all hell could break loose.

    Read more: http://www.businessinsider.com/el-erian-warns-on-french-banks-2011-9#ixzz1YgJln3ZA

    Like

  12. luisport says:

    zerohedge zerohedge
    Well that’s encouraging – “We are beyond the point of no return, markets alone will not stabilize” – Barclays
    há 1 minuto

    Like

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