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2.7%  Q1 GDP    4.57%  avg. 30-year mortgage     9.5%  Unemployment

IMF: No U.S. Growth 'Til Mid-2009

The International Monetary Fund here in Washington issued a report this morning saying that economic growth in the U.S. and the Western Hemisphere will be close to zero or maybe even slightly negative through the end of the year, thanks to the cascading effects of the ongoing financial crisis.

Any U.S. recovery won't come until at least summer of next year, the IMF said.

The IMF used data from as late as this month to make its prediction.

According to the IMF, Latin America and Caribbean nations will out-grow the U.S. in coming months, expanding at a 3 percent clip.

Dominique Strauss-Kahn, the IMF's director, is under investigation for an affair he had with an employee.

-- Frank Ahrens

By Frank Ahrens  |  October 22, 2008; 5:28 PM ET
Categories:  The Ticker  
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"The great enemy of the Truth is very often not the lie - deliberate, contrived, and dishonest - but the myth - persistent, persuasive and realistic." A friend of a friend

They hang the man and flog the woman
That steal the goose from off the common,
But let the greater villain loose
That steals the common from the goose.

The Law demands that we atone
When we take things we do not own
But leaves the lords and ladies fine
Who take things that are yours and mine.

The poor and wretched don’t escape
If they conspire the law to break;
This must be so but they endure
Those who conspire to make the law.

The law locks up the man or woman
Who steals the goose from off the common’
And geese will still a common lack
Till they go and steal it back.

English folk poem, circa 1764

Good news NEWS!

Posted by: Night Mayor | October 22, 2008 7:38 PM | Report abuse

I got into this LETS idea back in the 1990's. It seemed ahead of its time. All politics is local and all politics is money you know.

"Money is just information, a way we measure what we trade, nothing of value in itself. And we can make it ourselves, to work as a complement to conventional money. Just a matter of design."

It looks like time to design something new and improved. It should be interesting to publish money and see where this goes. It's been a long road and it's a longer road ahead. The future is serious business. We are heading into the Post Money Era. The old money hit the Wall and ended up all over the street. We wrecked the place. We could see growth before Christmas. I don't know what the IMF is talking about. I'm not even sure they know. We'll see what happens and if we are creative enough, there's no stopping us now.

Posted by: Night Mayor | October 22, 2008 8:05 PM | Report abuse

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