G7 leaders say world economy vulnerable

[defendandprotect]

G7 leaders say world economy vulnerable By David Pilling and Jonathan Soble in Tokyo
Sat Feb 9, 8:50 AM ET

The world economy remains vulnerable to downside risks stemming from tighter credit, a deterioration of the US housing market, higher oil prices and rising inflation, according to G7 finance ministers gathering in Tokyo on Saturday.

Although "long-term fundamentals remain sound" and recession in the US and elsewhere could be avoided, according to the final communiqué, the world's richest nations said they stood ready to "take appropriate actions, individually and collectively, in order to secure stability and growth".

Finance ministers also called on OPEC and other oil-producing nations to "raise production", saying that the "recent surge" in prices, which briefly broke through $100 a barrel, was stoking inflation and complicating the response of economies already reeling from problems related to sub-prime loans.

Henry Paulson, US treasury secretary, said that "current financial turmoil is serious and persisting", adding that discussion focused on how problems in the capital markets were spreading to the real economy. He expected the US would continue to grow and avoid recession, though he conceded there were risks to that scenario. Finance ministers predicted continued robust growth in emerging economies, but said it would be slower.

http://news.yahoo.com/s/ft/20080209/bs_ft/fto020920080905237571


Maybe the headline should say Bush AGAIN successful in creating world depression --- ???

[bdamomma]

1. maybe *'s vision of preception peace and prosperity is death

destruction, and utter chaos, the man is truly delusional.