IMF Managing Director Dominique Strauss-Kahn’s spoke to reporters after a speech on February 7 in Kuala Lumpur, Malaysia. He said something ominous, esp coming from a senior IMF official. File it under “slow but eventual recognition of the obvious.” (...)I guess our 'betters' just completely forgot to tell us... NL reporting here. This is by the way the only Dutch language source that carries the quote. The other source reporting on the press conference in Kuala Lumpur, Het Brabants Dagblad, omits the reference to a depression altogether.
Dow Jones News says (dateline Kuala Lumpur):
“We are already in depression … at least for advanced economies,” he told reporters at a briefing. … Strauss-Kahn said there is still downside risk to global economic growth forecasts and the “worst cannot be ruled out.”
From Fabius Maximus, emphasis is mine: