There are two ways to sleep well at night ... be ignorant or be prepared.

Sunday, November 23, 2008

Economy to Take Years to Recover

We have to say it again--optimism is increasingly rare. The authorities are hoping things can take a turn for the better in a few years. Do what you must now for your family's future well-being.

Worst of financial crisis yet to come: IMF chief economist
Nov 22 07:04 PM US/Eastern

The IMF's chief economist has warned that the global financial crisis is set to worsen and that the situation will not improve until 2010, a report said Saturday.

Olivier Blanchard also warned that the institution does not have the funds to solve every economic problem.

"The worst is yet to come," Blanchard said in an interview with the Finanz und Wirtschaft newspaper, adding that "a lot of time is needed before the situation becomes normal."

He said economic growth would not kick in until 2010 and it will take another year before the global financial situation became normal again.

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