That’s not 4 tonne, that’s the $4 trillion that the credit crunch the world economy has been experiencing is set to cost the financial system, according to the International Monetary Fund ( IMF).
The IMF says that even if urgent action is taken to clean up the banking system, the process will be "slow and painful", delaying economic recovery.
On the other hand, we have the new US president making sounds about recovery and green shoots. Once again it’s hard to know who to listen to - as one wag put it “What recession? We’re in a pre-boom!”
Everything depends upon one’s point of view.
The V shaped recession analysts speak of is a quick down and then up. Let’s hope it’s not a U or a W.
Stalker wonder’s what a Q shaped recession would be like - we’d go round the bend, then we’d trickle down the plug hole.