business

IMF forecasts 6% global growth this year as economies reopen

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By PAUL WISEMAN and MARTIN CRUTSINGER

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We will still be below where we were pre-pandemic. In the meantime asset prices are in a bubble due to the trillions of dollars central banks around the world have printed. I fear this doesnt end well.

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IMF forecasts 6% global growth this year as economies reopen:

IMF must be far too optimistic in its economic growth projection. As the pandemic still lingers on, a prediction of ~3% for 2021 would be considered as ambitious, let alone 6%.

Some countries may have 0% growth if not negative..

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In the meantime asset prices are in a bubble due to the trillions of dollars central banks around the world have printed. I fear this doesnt end well.

It’s a dramatic bubble, right, but I wouldn’t see that so pessimistic. In the assets and coins is the money that is not really needed for business operation, so if it is lost or taken out buy the central banks, the tissues won’t become so wet from tears as one might think. Now the normal people, they will just be taxed, or have higher expenses for home office equipment, electric cars, paying for education losses with their children induced by corona etc. And the rest of the consumers, the part with too much savings or money, is ripped off that too much saved money with negative interest rates and all those now commonly widespread moon prices for all the ‘unnecessary’ little things like game consoles, mini speakers, in-ear-earphones, smart watches and such (mostly) crap, those are in principle technical garbage. For those several hundred dollars each, you had received a very special set of highest value audiophile or video components for your living room or whole house during the real bubble some decades ago, I mean those real type amplified components, massive speaker and surround systems with some hundred Watts and real bass etc., just only an example. lol

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