July 3, 2012
Tags: economy, imf, international monetary fund, recession, United States
Rev 6:5,6 NCV When the Lamb opened the third seal, I heard the third living creature say, "Come!" I looked, and there before me was a black horse, and its rider held a pair of scales in his hand. Then I heard something that sounded like a voice coming from the middle of the four living creatures. The voice said, "A quart of wheat for a day's pay, and three quarts of barley for a day's pay, and do not damage the olive oil and wine!"
“…the manipulation of money and goods is soon to be revealed as the main method of control imposed upon society by the Antichrist.”
-Jim Bakker in “Prosperity and the Coming Apocalypse”
The International Monetary Fund (IMF) has stated that the United States economic recovery “remains tepid” and has cut the estimated growth of the US economy by a tenth of a percentage point to 2% overall.
The IMF said that the eurozone debt crisis is a driving factor in the revised estimate but also uncertain domestic policies and the upcoming Presidential election. The IMF report also stated that “house prices have stabilized recently but remain at depressed levels.”
The estimate is much lower than the forecasts of the US Federal Reserve which last month revised it’s economic forecast from 2.9% to 2.4%.
The IMF also revised downward the outlook for 2013 by .15% to 2.25%. It cited the dangers of a “financial cliff” related to the $4 trillion in tax increases and spending cuts that are due to happen automatically at the end of the year.