May 23, 2009
MADRID (AFP) — The global economic crisis could lead to dangerous social upheaval if certain steps are not taken, World Bank chief Robert Zoellick warned in an interview Sunday.
“If we do no take measures, there is a risk of a serious human and social crisis with very serious political implications. The stimulus measures [...]
Published on May 1, 2009
A pandemic of green shoots, a world infested by signs of hope of recovery, and a big market rally. The FTSE All-World index has risen by 31 per cent since its March low. The VIX index – a gauge of market fear – has more than halved from its year-end high, [...]
IS AMERICA THE NEW RUSSIA?
By Martin Wolf, Published: April 14 2009
Is the US Russia? The question seems provocative, if not outrageous. Yet the person asking it is Simon Johnson, former chief economist at the International Monetary Fund and a professor at the Sloan School of Management at the Massachusetts Institute of Technology. In an article [...]
World Economy Falling Faster Than in 1929-1930
By Barry Eichengreen and Kevin O’Rourke.
The parallels between the Great Depression of the 1930s and our current Great Recession have been widely remarked upon. Paul Krugman has compared the fall in US industrial production from its mid-1929 and late-2007 peaks, showing that it has been milder this time. On [...]