IMF — biggest economic downturn since Depression

The IMF says the U.S. will lead the sharp downturn it sees ahead. And, it admits that hypercapitalism doesn’t work, saying lax regulatory controls led the global economy to “exceed its speed limit.”

That said, I think its claims for Chinese and Indian growth next year are overstated.

That said, the Congressional examination will surely be structured in a way so as not to look at Congress’ role in this.