by Chris Black
Again, this is the IMF, not yours truly:
The world economy is facing its weakest period of growth since the 1990s in the next five years due to problems triggered by the pandemic and political tensions, International Monetary Fund (IMF) Managing Director Kristalina Georgieva stated on Thursday.
A severe slowdown in the global economy last year following the Covid-19 pandemic and the conflict in Ukraine is set to continue in 2023 and could persist for the next five years, she warned.
Global GDP will grow at about 3% over the next half decade compared to an average of 3.8% seen in the past 20 years, representing the worst economic performance in more than three decades. The IMF expects global GDP to expand by less than 3% this year, which is in line with its January projection of 2.9%.
Last year, global growth almost halved following an initial post-pandemic rebound in 2021, sliding from 6.1% to 3.4%, Georgieva said ahead of the IMF World Economic Outlook report, which is due to be released on April 11.
The inflation was a problem, but it is nothing compared to the problems created by interest rate hikes.
If these people actually cared about fixing things, they would choose the lesser of two evils.
Inflation is going to keep happening anyway, because governments, particularly the US government, are going to keep doing QE, which cannot possibly be overcome by interest rates.
The only possible conclusion is that for whatever reason, the global financial authorities want to drive down economies.