IMF cuts U.S. growth forecast, warns of crisis
SAO PAULO (Reuters) – The International Monetary Fund cut its forecast for U.S. economic growth on Friday and warned Washington and debt-ridden European countries that they are “playing with fire” unless they take immediate steps to reduce their budget deficits.
The IMF, in its regular assessment of global economic prospects, said bigger threats to growth had emerged since its previous report in April, citing the euro zone debt crisis and signs of overheating in emerging market economies.
The Washington-based global lender forecast that U.S. gross domestic product would grow a tepid 2.5 percent this year and 2.7 percent in 2012. In its forecast just two months ago, it had expected 2.8 percent and 2.9 percent growth, respectively.
With regard to the global economy overall, the IMF struck a measured tone, saying the slowdown of recent months should be “temporary.” It trimmed its forecast for global growth this year only slightly, to 4.3 percent from 4.4 percent, and maintained its estimate for robust Chinese growth of 9.6 percent despite recent signs of a slowdown there.
Yet that relatively benign global outlook could quickly fall apart if politicians in the United States and Europe do not start showing more leadership in addressing their countries’ debt problems, the fund warned.
“You cannot afford to have a world economy where these important decisions are postponed, because you’re really playing with fire,” said Jose Vinals, director of the IMF’s monetary and capital markets department.
Satan’s kingdom consists of all nations on earth, but his beast is the USA. Satan’s throne is located in the USA, and so the beast shares that throne by virtue of Satan having passed power to his prized beast.
The United States is what Satan envisioned for the entire world. He hates to let go and give up that vision. But Yahweh says this country cannot stand for much longer. It is yet another stripping of Satan’s valuables that he loves and wants to continue to hold as a prized possession. The USA is like his first born Son. He spent much time in bringing it to life.