Financial war in Iran, riots in Greece and jobless figure conspiracies in the US!
Welcome to Capital Account. The IMF lowered growth forecasts and warned of a worldwide recession in its recent ‘World Economic Outlook’ report. It was the IMF’s bleakest assessment of global growth prospects since the 2009 recession, the Wall Street Journal reported. Is the IMF late to the party? Only one major nation was given a positive revised forecast by the organization: the US. Did the IMF take into account how the US is in a QE-induced stupor? We talk to Mike Shedlock about the politics behind the IMF’s report.