This piece was reprinted by OpEd News with permission or license. It may not be reproduced in any form without permission or license from the source.
- stress capital preservation;
- choose high quality income streams;
- pay down debt sooner, not later;
- rent, don't buy; and
- keep your day job until promising alternatives arrive.
Recent IMF and World Bank forecasts also spell trouble.
On January 18, the World Bank's Global Economic Prospects said world economies teeter "on the brink of another major decline" with "anemic growth" at best through 2013.
Predicting "significantly downgraded" prospects from months earlier, it warned that '"the world economy has entered a dangerous period" as Eurozone turmoil spreads globally.
"The downturn in Europe and the slow growth in developing countries could reinforce one another more than is anticipated, (causing) further complicating efforts to restore market confidence."Moreover, "the medium-term challenge represented by high debts and slow trend growth in other high-income countries has not been resolved and could trigger sudden adverse shocks."
It calls world growth less than 3% recession. Europe's already experiencing it, and high-income countries are expected to grow only 1.4%, signaling decline. Moreover, given unaddressed excesses, greater trouble than 2008 is possible "on both sides of the Atlantic...."
Next Page 1 | 2 | 3 | 4 | 5 | 6 | 7
(Note: You can view every article as one long page if you sign up as an Advocate Member, or higher).
1
