Tuesday, February 10, 2009

Global Economy Nears Abyss

Bond market calls Fed's bluff as global economy falls apart

Global bond markets are calling the bluff of the US Federal Reserve.
By Ambrose Evans-Pritchard Last Updated: 7:22PM GMT 08 Feb 2009

The yield on 10-year US Treasury bonds – the world's benchmark cost of capital – has jumped from 2pc to 3pc since Christmas despite efforts to talk the rate down. This level will asphyxiate the US economy if allowed to persist...

Readers have berated me for a piece last week – "Glimmers of Hope" – that hinted at recovery. Let me stress, I was wearing my reporter's hat, not expressing an opinion. My own view, sadly, is that there is no hope at all of stabilizing the world economy on current policies.

Read entire item: Global Economy Nears Abyss
Also read:
IMF Out Of Cash In Six Months
UK Companies Fear Worst Ahead
WTO Chief Warns Of Political Unrest

Related articles:
Catastrophic Fall in 2009 Global Food Production - 9th Feb 09 - Eric_deCarbonnel
Stock Market to Fall AT LEAST Another 40%! - 9th Feb 09 - Martin Weiss
Economic Stimulus Spending Breakdown Shows Repeating the Mistakes of Japan - 9th Feb 09 - Mike_Shedlock
Platinum and Commodities Bubble, Deflationary Crash - 9th Feb 09 - Kyle_L_Lucas
Stock Market Crash 2009: Few More Days of Strength Before the Bear Strikes - 9th Feb 09 - Eric_Chevrette
Economic Depression 2009? - 8th Feb 09 - Mick_Phoenix
Trading USD/JPY- U.S. Dollar Vs Japanese Yen - 9th Feb 09 - INO

Whilst everything seems to be in a freefall into unspeakable disaster, there is HOPE. Read the booklets Fourteen Signs Announcing Christ's Return and The World Ahead: What Will It Be Like? available free.

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