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IMF Chief Warns of Financial Disaster Driven by Inequality

IMF Head Kristalina Georgieva warns of a return of the Great Depression driven by inequality and financial sector instability in a speech delivered at the Peterson Institute of International Economics.
Washington DC - IMF Head Kristalina Georgieva warns of a return of the Great Depression driven by inequality and financial sector instability in a speech delivered at the Peterson Institute of International Economics. Georgieva highlighted new IMF research that compares the current economy to the "roaring 1920s" economy that culminated in the great market crash of 1929.

"The IMF delivered a stark message about the potential for another massive financial disaster that we last experienced during the Great Depression," noted United Nations finance expert and Jubilee USA Director Eric LeCompte. "With inequality on the rise and concerns of stability in the markets, we need to take this warning seriously."

In addition to financial sector stability and growing inequality, Georgieva shared that we face additional challenges in the current economy.

"Trade problems and climate-driven weather events pose additional risks at this time," said LeCompte. "It's imperative that we ensure the financial sector is free of risky behavior and corruption if we want to protect ourselves from another global financial crisis."

homepage: homepage: http://www.jubileeusa.org


IMF: Global economy, financial system on brink of financialized disaster 17.Jan.2020 20:13

See Also

IMF: Global economy, financial system on brink of disaster
 http://portland.indymedia.org/en/2019/10/437837.shtml
 http://portland.indymedia.org/en/2019/10/437838.shtml



Financialization, repo market, debt based fiat currency economics :

Debt-based economic model: Can the US dominate the global financial system forever?
 http://portland.indymedia.org/en/2019/12/438077.shtml

TRUMP [to Federal Reserve]: More Easy Money Please... IN YOUR FACE.
 http://portland.indymedia.org/en/2019/12/438041.shtml

Federal Reserve Cuts Interest Rates For Third Time In 2019
 http://portland.indymedia.org/en/2019/10/437872.shtml

US Federal Reserve Starts "Quantitative Easing Forever"
 http://portland.indymedia.org/en/2019/10/437855.shtml

The Federal Reserve Has A Repo Problem. What's That?
 http://portland.indymedia.org/en/2019/10/437842.shtml

Sen. Warren Grills Treasury Secretary Mnuchin On Federal Reserve Repo / Overnight Lending
 http://portland.indymedia.org/en/2019/10/437851.shtml

Trump, while simultaneously calling for devaluation of the/a weaker U.S. dollar, is outspending Obama by enormous magnitude :
Late 2019 Economics: We've never seen anything like this. Not even under Obama
 http://portland.indymedia.org/en/2019/10/437849.shtml

The Disaster Of Negative Interest Rates
 http://portland.indymedia.org/en/2019/10/437810.shtml

The Silence On Wall Street's Dark Pools Is Deafening
 http://portland.indymedia.org/en/2019/12/438027.shtml

Financial N-Option Will Settle Trump's Oil War
 http://portland.indymedia.org/en/2020/01/438125.shtml

The way out for a world economy hooked on debt? More debt
 http://portland.indymedia.org/en/2019/12/438001.shtml

Paul Volcker's Long Shadow
 http://portland.indymedia.org/en/2019/12/438039.shtml

post-1980s-Reagan-Thatcher Financialization has replaced 'capitalism'
 http://portland.indymedia.org/en/2019/12/437997.shtml#465064
total debt levels and deficit spending of the past 30 years has eclipsed that of the past few centuries of Western civilization; while central banks, led by the U.S. dollar-based Federal Reserve continue to issue debt note fiat currency which perpetuates an utterly 100% fake global 'economy'.


 http://en.wikipedia.org/wiki/Financialization
N.B. the ^ sections on *Financial turnover compared to gross domestic product (GDP), and *Futures markets

 http://en.wikipedia.org/wiki/Derivative_(finance)


(Financialization documentary) The Money Deluge
 http://portland.indymedia.org/en/2019/12/438042.shtml

(42:24)  http://www.youtube.com/watch?v=t6m49vNjEGs