Busted: Bankers and The Global Economy

May 15, 2008

U.N. Says World Economy on Brink

The U.N. says the world economy is “teetering on the brink” of a severe downturn.

The U.N.’s mid-year economic projections blamed the downturn on further deterioration in the U.S. housing and financial sectors in the first quarter. The U.N. said the U.S. problems are expected to continue to be “a major drag for the world economy” into 2009.

Looking beyond the financial and housing market, you can find strength. Consumer staples and energy are economic hot spots right now. Whether these hot spots are really good for the economy or not, in times of prosperity and decline, investors can always find a way to make a buck.

The United Nations is really good at spending other peoples’ money. Naturally, they are very concerned during a global downturn because money is harder for them to get.

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