40 Million People Will Be Out Of Work Next Year, OECD Warns

peoples trust toronto

While today’s IMF cut in US growth estimates served merely to reestablish long positions in the long end of the curve and to serve as a basis for this quarter’s IMF “comedy of errors” update, a more concerning update was presented by the far more credible OECD whose latest forecast is truly troubling for all those who claim the global economy is in a recovery.

As reported by AFP, in the latest economic forecast from the Organization for Economic Cooperation and Development, the Paris-based body made up of 34 of the world’s most developed countries, the conclusion is that the world economy risks being bogged down in a low-growth spiral unless measures are taken to spur demand and incite businesses to boost their stubbornly sluggish investments.

Hint: raise rates now, send the economy into a tailspin, do QE4 imminently, pretend it is to “boost the economy”, send…

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