Wednesday, October 08, 2008

IMF: “Most dangerous shock in mature financial markets since the 1930s”

The International Monetary Fund, in a World Economic Outlook released today, predicted the United States - the epicenter of the financial meltdown - will continue to lose traction, adding, "The world economy is now entering a major downturn in the face of the most dangerous shock in mature financial markets since the 1930s." (AP)

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