- Prison Planet.com - http://www.prisonplanet.com -
World needs $100 trillion more credit, says World Economic Forum
Posted By admin On January 20, 2011 @ 4:47 am In Money Watch | Comments Disabled
London Telegraph 
Jan 20, 2011
The world’s expected economic growth will have to be supported by an extra $100 trillion (£63 trillion) in credit over the next decade, according to the World Economic Forum.
This doubling of existing credit levels could be achieved without increasing the risk of a major crisis, said the report from the WEF ahead of its high-profile annual meeting in Davos.
But researchers warned that leaders must be wary of new credit “hotspots”, where too much lending takes place, as the world emerges from a financial catastrophe blamed in large part “to the failure of the financial system to detect and constrain” these areas of unsustainable debt.
“Pockets of credit grew rapidly to excess – and brought the entire financial system to the brink of collapse,” said the report, written in conjunction with consulting firm McKinsey. “Yet, credit is the lifeblood of the economy, and much more of it will be needed to sustain the recovery and enable the developing world to achieve its growth potential.”
Article printed from Prison Planet.com: http://www.prisonplanet.com
URL to article: http://www.prisonplanet.com/world-needs-100-trillion-more-credit-says-world-economic-forum.html
URLs in this post:
 London Telegraph: http://www.telegraph.co.uk/finance/financetopics/davos/8267768/World-needs-100-trillion-more-credit-says-World-Economic-Forum.html
 ‘Significant chance’ of second financial crisis, warns World Economic Forum: http://www.prisonplanet.com/significant-chance-of-second-financial-crisis-warns-world-economic-forum.html
 World Economic Forum in Switzerland: Global Elites Celebrating Hypocrisy: http://www.prisonplanet.com/world-economic-forum-in-switzerland-global-elites-celebrating-hypocrisy.html
 Protesters rally against World Economic Forum: http://www.prisonplanet.com/protesters-rally-against-world-economic-forum.html
 Portable DNA Sequencer Demonstrated at World Economic Forum: http://www.prisonplanet.com/portable-dna-sequencer-demonstrated-at-world-economic-forum.html
 US To End 2010 With $13.9 Trillion In Debt, Total Debt Incurred Since Great Financial Crash: $4.4 Trillion: http://www.prisonplanet.com/us-to-end-2010-with-13-9-trillion-in-debt-total-debt-incurred-since-great-financial-crash-4-4-trillion.html
Copyright © 2013 PrisonPlanet.com. All rights reserved.