Tag Archives: Shamim Adam

IMF statement

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“Ten days ago, the IMF cut its world-growth estimate for this year to 0.5 percent, the weakest pace since World War II. Stimulus packages alone won’t succeed in dragging the global economy out of recession unless confidence is restored in the banking system, Strauss-Kahn said today.”

I do not agree.

An ongoing fiscal adjustment alone can easily do the trick.

The banking system is functioning well enough (clearing checks and making only the loans it feels are attractive on a risk adjusted basis) to support a full blown economic boom should the government get the fiscal right.

>   
>   Warren:
>   
>   Have you seen this analysis by the IMF. Tell me that they are clueless. My
>   analysis is that they may be on the money.
>   

IMF Says Advanced Economies Already in Depression

by Angus Whitley and Shamim Adam

Feb 7 (Bloomberg)


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Pac Rim vows ‘Extraordinary’ steps

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How about:

‘Conduct ongoing fiscal adjustments to support domestic demand at full employment levels?’

Not quite, but moving in that direction.

They would all rather export than sell their output internally.

Pacific Rim Leaders Vow Further ‘Extraordinary’ Steps on Crisis

By Shamim Adam and Bill Faries

Nov. 23- Leaders of Pacific Rim nations promised to work together on further “extraordinary” steps to combat the global economic crisis and pledged to refrain from erecting new barriers to trade and investment.

Leaders of the 21-nation Asia-Pacific Economic Cooperation group, which includes the U.S., China and Japan and accounts for half of world output, also called for improved corporate governance and backed efforts to thaw frozen credit markets.

“We have already taken urgent and extraordinary steps to stabilize our financial sectors and strengthen economic growth and promote investment and consumption,” the group said in a statement during its meeting in Lima, Peru. “We will continue to take such steps, and work closely, in a coordinated and comprehensive manner, to implement future actions.”


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