Wednesday, January 14, 2009

Experts Who Predicted US Economy Crisis See Recovery in 2010

/PRNewswire/ -- International Institute of Management (IIM), today announced that its President, Med Yones, was recognized by World Finance Magazine as "One of the few who predicted the current US economic crisis before it happened. IIM challenged the US President's State of the Union Address in January 2007, the Federal Reserve Chairman and the popular opinion of US economists and media analysts at the time. IIM published a policy white paper outlining US economic risks and strategies for the next decade." The paper can be found at

Following the publication of the policy paper, Med Yones was quoted in worldwide media including Reuters, Fox News, Financial Post Canada, Handelsblatt Germany, Le Point France, China Times, Malaysia Sun, and New Zealand Herald.

According to Fortune Magazine, the list of prominent experts and business leaders who missed the signs of the crisis includes Alan Greenspan, former Federal Reserve Chairman; Ben Bernanke, the current Federal Reserve Chairman; Hank Paulson, Treasury Secretary; the financial industry analysts of Moody's, Fitch, Standard & Poor's; Wall Street CEOs including Stan O'Neal, the CEO of Merrill Lynch; James Cayne, CEO of Bear Stearns; Chuck Prince, CEO of Citigroup; Zoe Cruz, CEO of Morgan Stanley; and Angelo Mozilo, CEO of Countrywide Financial.

According to Med Yones, "We warned most of them about 2 years ago, yet no one was willing to listen until the markets took their first big hit in early 2007. Since that time, the policy paper was viewed more than 250,000 times by researchers, media analysts, and investors. The 3 most common questions are: (1) How did we get here? (2) Why did our top experts miss it? (3) When do you think the economy will recover? The short answers are: (1) Spending on credit without enough production to pay it back (2) Groupthink mindset, and (3) We'll experience more volatility in 2009 on the way to the bottom of the correction cycle. A modest recovery will start in 2010/2011. The more detailed answers can be found at: .

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