The IMF Downgrades the World

The latest downgrades to global economic growth from the folks at the International Monetary Fund are shown below using data provided in this BBC story today. Anglo Saxons in the U.S. and the U.K. were the biggest winners and losers, respectively, the former being upgraded and the latter now set to close out the year with a bigger contraction than the rest of Europe.

Of course, they’re not taking the news too well across the pond as, suddenly, calls for more stimulus (a.k.a. money printing) are being heard far and wide. Here in the U.S., the IMF predicts much of the same for 2013 - about 2 percent growth - however, that assumes that a deal will be struck to avoid going over the “fiscal cliff” and, if not, the U.S. could quickly follow Europe in recession next year.