Gerald Celente – IMF Confirms World Is Drifting Toward Another Great Depression

Gerald Celente says the IMF has now confirmed that the world is drifting toward another Great Depression.

IMF: World Drifting Toward Another Great Depression
(King World News) – Gerald Celente:  “The world is drifting toward another Great Depression, says Kristalina Georgieva, Managing Director of the International Monetary Fund.

She points to IMF research that finds parallels between current economic conditions, including economic inequality and financial markets’ instability, and those of the 1920s that culminated in the stock market collapse and a 10-year global depression that was ended only by World War II…

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While inequality between countries has narrowed, inequality within countries has worsened, Georgieva went on to note in a speech at the Peterson Institute of International Economics.

In the UK, the richest 10 percent of the population controls as much wealth as the bottom 50 percent; in the U.S., Jeff Bezos, Bill Gates, and Warren Buffet control as much wealth as the bottom 50 percent.

Although the U.S. median income rose to a record $61,937 in 2018, income inequality has also reached record levels, according to the U.S. Census Bureau.

Such inequality not only hinders economic growth but also sparks “populism and political upheaval,” Georgieva said.

Growing political instability, even in developed countries, coupled with issues such as trade protectionism and climate disruption, will heighten global financial uncertainty, she predicted.….more here

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