lunes, 29 de agosto de 2011

Make you nervous?

Recently installed head of the IMF, Cristine LaGarde, told the elite of economic policy-makers gathered at Jackson Hole that economic risks "have been aggravated further by a deterioration in confidence and a growing sense that policymakers do not have the conviction, or simply are not willing, to take the decisions that are needed.” The former could be remedied by the latter. In the same venue, Fed President Ben Bernanke politely chastised Congress for the debt ceiling debacle and as clearly as a central bank president is ever likely to say so, argued for a fiscal stimulus to save the economy from falling into a prolonged  slump. 

The odds on the "worst case" scenario are rising.

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