According to the dickwads at the IMF America’s mortgage crisis has spiraled into “the largest financial shock since the Great Depression” and there is now a one-in-four chance of a full-blown global recession over the next 12 months, the International Monetary Fund warned today.
The US is already sliding into what the IMF predicts will be a “mild recession” but there is mounting pessimism about the ability of the rest of the world to escape unscathed, the IMF said in its twice-yearly World Economic Outlook. Britain is particularly vulnerable, it warned, as it slashed its growth targets for both the US and the UK.
Puzzle me this “international monetary experts,” (not!) if the U.S. can only expect a “mild recession” how in fickin’ hell does that equate to “the largest financial shock since the Great Depression?”
How in a country that has over 70 million mortgage holders, of which ONLY approximately 900,000 have defaulted, constitute a “crisis” on the scale they are predicting?
It doesn’t, and these nitwits are just that, nitwits. And dipshits!