IMF: U.S. Unemployment Will Stay Above 9 Percent through 2011

Yesterday, the International Monetary Fund released a report on the world economy, revising upward its predictions for U.S. economic growth while lowering its projections for many Western European countries. It also cautioned that the global recovery is imperiled due to the sovereign debt crises in Europe:

Downside risks have

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Yes, It is Time to Panic

Today should be another scary day on Wall Street, but we’ve got bigger problems. Across the board, economists are calling for global action on the credit crisis — and soon. Very soon. Like no later than this weekend.

From Nouriel Roubini, famous for having predicted this whole mess: