Asian Development Bank acknowledges slowing world economy but fails to recognize deflation that is creating the scenario for worldwide depression
Peter Oberois
Mar. 26, 2007

According to Asian Development Bank, global export volumes may rise 7.5 percent this year, from 9.7 percent in 2006, as production in major industrial countries eases and output in the U.S. slows `markedly’.

Then slowing economy in US, the mortgage defaults, real estate crash and massive rise foreclosure is a major concern. The deflation is the net result limitless borrowing in the last seventy years and careless spending by common people and the politicians in the Government.

The slowdown will accelerate. The ADB fails again to understand the same. Last time they said the growth will be rapid and at record levels. Now they have started revising it downwards. The worldwide depression is imminent.

The lack of consumer confidence and buying power will create the crash in the Asian economies that mostly live on exporting to America.

Asian Development Bank acknowledges slowing world economy but fails to recognize deflation that is creating the scenario for worldwide depression
Peter Oberois
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