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HSBC fears world recession with no lifeboats left

The world economy is disturbingly close to stall speed. The United Nationshas cut its global growth forecast for this year to 2.8pc, the latest of the multinational bodies to retreat. We are not yet in the danger zone but this pace is only slightly above the 2.5pc rate that used to be regarded as a recession for the international system as …

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Chief Economist for One of the World’s Largest Banks: “The World Economy Is Like An Ocean Liner Without Lifeboats. If Another Recession Hits, It Could Be A Truly Titanic Struggle For Policymakers”

HSBC is the world’s largest bank outside of the U.S. and China, the largest in the UK, and the 9th largest bank in the world overall. HSBC’s chief economist Stephen King wrote today in a note to clients: The world economy is like an ocean liner without lifeboats. If another recession hits, it could be a truly titanic struggle for policymakers. King notes: …

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“Core Inflation In The US Would Be Just As Low As In The Eurozone If Measured On The Same Basis”

Anyone with a pulse knows that Europe is stuck in a downturn worse than the Great Depression. Most think that the U.S. has fared better … but that is debatable. Mega-bank Société Générale’s strategist Albert Edwards notes: “Core Inflation in the US would be just as low as in the eurozone if measured on the same basis, despite the US having enjoyed much …