From: Jeffrey Epstein [[email protected]] Sent: 7/12/2009 11:37:00 AM To: Sultan Bin Sulayern [i | Subject: Re: World economy growth interesting reading mandelson is in london On Sat, Jul 11, 2009 at 9:15 PM, Sultan Bin Sulayem <Q wrote: * 11 Places With a Worse Economy Than USA By Rick Newman — Fri Jul 10, 11:50 am ET *How to tell when a real recovery begins.? By Rick Newman *Obama says stimulus plan to kick in later this year. Reuters 11 Places With a Worse Economy Than USA By Rick Newman — Fri Jul 10, 11:50 am ET When times are tough, one thing that tends to raise the spirits is knowing that somebody else has it worse. And as wretched as the U.S. economy seems, it's not as bad as in other regions. The International Monetary Fund's latest tally of world economic conditions forecasts a 2.6 decline in U.S. economic output for all of 2009, and anemic growth of 0.8 percent in 2010. That's more optimistic than the IMF's prediction from three months ago, but those are still lousy numbers. A weak economy throughout 2010 would mean a bleak employment picture, an agonizingly slow housing recovery, and another year or two likely to feel like a recession, whether it's technically labeled that or not. We should count ourselves lucky, though. The IMF expects at least 11 major parts of the world to have more severe economic contractions than the United State this year, including most of western Europe, Japan, Russia, and Mexico. Europe will still be stumbling along behind the United States next year, as well. Here are the IMF's projections for economic growth in various parts of the world: 2009. 2010 China. 7.5. 85 India. 54 65 Middle East 2.0 3.7 Africa. 1.8 4.7 Brazil. -1.3 2.5 World total -1.4 2.5 Canada. -2.3 1.6 USS. -2.6 0.8 France. -3.0 0.4 Spain. -4.0 -0.8 U.K. 4.2 0.2 EU. -4.7 -0.1 HOUSE_OVERSIGHT_021231