The Private Debt Crisis
China is drowning in it. The whole world has too much of it. History suggests: This won’t end well.
By Richard Vague from Fall 2016, No. 42 – 28 MIN READ
Tagged DebtGDPGreat RecessiongrowthIMF
Why does the IMF keep badly missing its global growth forecast? And what does that have to do with the 2016 presidential election?
In the years since the 2008 global crisis, when the world’s growth rates tumbled, the IMF has dutifully printed forecast after forecast predicting rebounding growth rates. But in reality, rates have fallen well short of these prediction……………..