I read on this site a chilling news about the IMF Managing Director statement that world is now facing the great recession. IMF Managing Director Dominique Strauss-Kahn released the statement during a gathering of African finance ministers in the Tanzanian capital Dar es Salaam.

There is valid data backing up his statement, for instance stock markets everywhere hit their lowest levels in decades, China grappled with deflation, Germany was hit by an exports slump, the European Union meanwhile called on the IMF`s resources for struggling nations to be doubled, are just a few examples. One keynote is mentioned by investment guru Warren Buffett said the US economy has “fallen off a cliff”. So I believe the picture of economic this year is not very bright at all

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