Washington (AFP) – The terms are hardly riveting: “new mediocre,” “secular stagnation,” “structural reform”, “lowflation.”But underpinning the economic geek-speak at the IMF-World Bank annual meetings were deep worries that the global economy is slipping backward.The meetings this week were fraught with concerns that the world still has not achieved escape velocity from the economic crisis, and for people around the world that means, in real language, flat incomes and few new jobs.The IMF has repeatedly cut its growth forecasts since the beginning of the year, now putting 2014 expansion at a tepid 3.3 percent, hopefully rising to 3.8 percent next …read more
Source: Business Insider
