Economics: Don't believe everything you read in the paper

IMF Managing Director: “The biggest part of the [economic] crisis is probably behind us,” Strauss-Kahn said.

He described the world response to the crisis as “broadly adequate. The central banks collaborated well together and finally they solved the question that avoided a crisis.”

NVDL: This is why we are in so much trouble. "Don't worry, everything's fine'...We've heard this tune on climate and everything else haven't we? When you espouse the more nagging consequences of reality, people dismiss it is as doom and gloom. Unfortunately, reality isn't a convenience food that you can elect to go without (or not). Least, not for long. Reality, for the lack of a better word, is what's really REAL.

clipped from www.businessday.co.za Economy between recession and inflation -IMF Reuters YALTA, Ukraine — The world economy remains stuck “between the ice of recession and the fire of inflation”, IMF Managing Director Dominique Strauss-Kahn said today. Strauss-Kahn, addressing a conference in Ukraine’s Black Sea resort of Yalta, said the world financial market crisis was largely over, though its consequences would be felt for some time to come. Emerging market economies, he said, were experiencing good growth, though inflation, linked to high oil and food prices, remained a serious problem. “The biggest part of the crisis is probably behind us,” Strauss-Kahn said.