IMF Warns Of Dangerous Recovery As It Cuts U.S. And Global Growth Estimates

The global economy will continue to muddle through this year and next, as the IMF lowered its world output forecast for 2013 to 3.3%.  The Eurozone’s recession is expected to drag on through this year, while Greece’s economy will contract for a sixth consecutive year under the crushing weight of austerity and lack of productivity.  A slightly positive note is the emergence of a “three-speed recovery,” as the U.S. decouples from other ailing so-called advanced economies and grows on the back of the Bernanke Fed’s continued flooding of the market with easy money.

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