{"id":12892,"date":"2016-02-27T16:18:03","date_gmt":"2016-02-27T21:18:03","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=12892"},"modified":"2016-02-27T16:18:03","modified_gmt":"2016-02-27T21:18:03","slug":"citi-brace-for-global-recession-macrobusiness","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2016\/02\/27\/citi-brace-for-global-recession-macrobusiness\/","title":{"rendered":"Citi: Brace for global recession | MacroBusiness"},"content":{"rendered":"<p><a href=\"http:\/\/www.macrobusiness.com.au\/2016\/02\/citi-brace-for-global-recession\/?utm_medium=email&amp;utm_campaign=Daily%20MacroBusiness&amp;utm_content=Daily%20MacroBusiness+CID_64613f558bbe70ad8f9dae49f95bcc42&amp;utm_source=Email%20marketing%20software&amp;utm_term=Citi%20Brace%20for%20global%20recession\"><img data-recalc-dims=\"1\" height=\"231\" width=\"525\" decoding=\"async\" class=\"alignnone size-full\" src=\"https:\/\/i0.wp.com\/thepatientinvestor.com\/wp-content\/uploads\/2016\/02\/screen-shot-2016-02-25-at-14-12-36-590x260.png?resize=525%2C231&#038;ssl=1\" alt=\"\" \/><\/a><\/p>\n<p>David Llewellyn-Smith quotes Willem Buiter at Citi:<\/p>\n<blockquote><p>&#8230;.The main \u2018game changers\u2019 in our view are the emerging belief that even the US economy is no longer bullet-proof and that policymakers (in the US and elsewhere) may not be there to come to the rescue of their own economies, let alone the world economy, by propping up asset prices and aggregate demand. It is likely, in our view, that global growth will this year once again underperform (against long-term trends and previous year forecasts). Citi\u2019s latest forecasts are for global growth of 2.5% in 2016 (based on market exchange rates and official statistics) and around 2.2% (adjusted for probable Chinese mismeasurement). But in our view, the risk of a global growth recession (growth below 2%) is high and rising. <\/p>\n<p>&#8230;..even though monetary policy is at the point of strongly diminishing returns, it is likely to remain the principal instrument through which authorities in a range of countries will try to boost growth and inflation.<\/p>\n<p>&#8230;..In most countries, the hurdles for a major fiscal stimulus remain high.<\/p><\/blockquote>\n<p>There are no free lunches: &#8220;propping up asset prices and aggregate demand&#8221; reduces the severity of recessions but inhibits the recovery, leading to prolonged periods of low growth. The further asset prices are allowed to fall, the stronger the recovery as investors (eventually) snap up &#8216;cheap&#8217; assets. Maintaining high prices is sometimes necessary, as in 2009, to prevent a 1930s-style collapse of the banking system but we may pay the price for another decade.<\/p>\n<p>Source: <a href=\"http:\/\/www.macrobusiness.com.au\/2016\/02\/citi-brace-for-global-recession\/\">Citi: Brace for global recession &#8211; MacroBusiness<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>David Llewellyn-Smith quotes Willem Buiter at Citi: &#8230;.The main \u2018game changers\u2019 in our view are the emerging belief that even the US economy is no longer bullet-proof and that policymakers (in the US and elsewhere) may not be there to come to the rescue of their own economies, let alone the world economy, by propping &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2016\/02\/27\/citi-brace-for-global-recession-macrobusiness\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Citi: Brace for global recession | MacroBusiness&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[31,5,15,34],"tags":[696,1412,2346,3685],"class_list":["post-12892","post","type-post","status-publish","format-standard","hentry","category-the-fed-banks-interest-rates","category-economy","category-investment-infrastructure","category-us-canada-countries-regions","tag-citigroup","tag-fiscal-policy","tag-monetary-policy","tag-willem-buiter"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Citi: Brace for global recession | MacroBusiness - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Citi: Brace for global recession | MacroBusiness - the patient investor\" \/>\n<meta property=\"og:description\" content=\"David Llewellyn-Smith quotes Willem Buiter at Citi: &#8230;.The main \u2018game changers\u2019 in our view are the emerging belief that even the US economy is no longer bullet-proof and that policymakers (in the US and elsewhere) may not be there to come to the rescue of their own economies, let alone the world economy, by propping &hellip; 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As regards demand stimulus, expansionary fiscal policy will not be punished by the\u2026","rel":"","context":"In &quot;UK &amp; Europe&quot;","block_context":{"text":"UK &amp; Europe","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/uk-europe-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":7371,"url":"https:\/\/thepatientinvestor.com\/index.php\/2013\/03\/30\/most-of-the-banks-are-zombie-banks-het-financieele-dagblad\/","url_meta":{"origin":12892,"position":1},"title":"&#8216;Most of the banks are zombie banks&#8217; | Het Financieele Dagblad","author":"ColinTwiggs","date":"March 30, 2013","format":false,"excerpt":"Translation from an interview by Marcel de Boer & Martin Visser with Willem Buiter, chief economist at Citgroup: Is Europe creating zombie banks? These already exist. Most of the banks are zombie banks. There is little new lending to businesses and households. Zombie banks will not offer credit even on\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3461,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/02\/09\/westpac-rba-statement-on-monetary-policy\/","url_meta":{"origin":12892,"position":2},"title":"Westpac: RBA Statement on Monetary Policy","author":"ColinTwiggs","date":"February 9, 2012","format":false,"excerpt":"It appears that the objective of this Statement is to emphasise that without a significant deterioration in global financial conditions policy should remain unchanged. When you assess the various pieces of the Bank's description of the domestic economy \u2013 weak employment; rising unemployment rate; subdued retail spending; soft housing market;\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":61995,"url":"https:\/\/thepatientinvestor.com\/index.php\/2025\/06\/18\/is-gold-losing-steam\/","url_meta":{"origin":12892,"position":3},"title":"Is gold losing steam?","author":"Colin Twiggs","date":"June 18, 2025","format":false,"excerpt":"Summary A note from Citi says gold is likely to fall next year Their view is based on higher projected US economic growth and lower interest rates But this ignores the secular global trends driving demand for gold A note from Citigroup sees gold as losing steam by the end\u2026","rel":"","context":"In &quot;China &amp; HK&quot;","block_context":{"text":"China &amp; HK","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/china-hk\/"},"img":{"alt_text":"Brent Crude","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-06-17-brent.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-06-17-brent.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-06-17-brent.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":5010,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/07\/31\/china-why-the-recovery-has-begun-pragmatic-capitalism\/","url_meta":{"origin":12892,"position":4},"title":"China: Why the Recovery Has Begun &#124; PRAGMATIC CAPITALISM","author":"Colin Twiggs","date":"July 31, 2012","format":false,"excerpt":"A bullish outlook on China from Citi Research: The key drivers of growth recovery are that de-stocking is near its end, the hard landing risk of the property sector is contained, and investment, consumption and exports had shown signs of improvement in June. In our view, given more policy supports\u2026","rel":"","context":"In &quot;China &amp; HK&quot;","block_context":{"text":"China &amp; HK","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/china-hk\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":38388,"url":"https:\/\/thepatientinvestor.com\/index.php\/2022\/10\/29\/australia-inflation-the-rba-cash-rate\/","url_meta":{"origin":12892,"position":5},"title":"Australia: Inflation &#038; the RBA cash rate","author":"Colin Twiggs","date":"October 29, 2022","format":false,"excerpt":"The consumer price index grew at 7.3% for the 12 months to September, highlighting that Australia is not immune from the high inflation that has beset global economies. Bill Evans (Westpac) calls for a 50 basis point hike at the RBA's November 1st meeting: \"During this period of rising inflation\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/12892","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=12892"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/12892\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=12892"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=12892"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=12892"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}