A report from Davos states that leading economists say that a full blown and prolonged recession is inescapable for America. Predicting that the US economy will drag down those in Britain, Europe and much of Asia.
There is a general consensus that the Federal Reserves emergency interest rate cut is “too little, too late”, to stave off the impending doom of recession.
At the end of last year the IMF said that if believed that even if the US was to go into downturn, Europe was in far better shape to fight off the effects of a worldwide downturn.
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