January 18, 2012 in Economy
World Bank Growth Forecasts for 2012:
World Economy Forecast: From 3.6% to 2.5%
United States Forecast: From 2.9% to 2.2%
Eurozone: Forecast From 1.8% to -0.3%
While the media focuses on irrelevant presidential issues, the world and Western Economies continue towards the brink of a diaster, worse than 2008 or 1929.
It is also being reported that the International Monetary Fund (IMF) is seeking $500B to $1T to prop up Europe and the Euro. As you may know the US is the Major Source for IMF funding!
Also note that respondents to our latest Mass Tea Party Poll are smarter than the media and have chosen the US Economy as their greatest concern for the New Year.
The World Bank’s warning of a possible new global recession much deeper and longer lasting that the 2008-09 slowdown certainly got attention yesterday.
“The downturn in Europe and weaker growth in developing countries raises the risk that the two developments reinforce one another, resulting in an even weaker outcome,” it said.
It also cited failure so far to resolve high debts and deficits in Japan and the United States and slow growth in other high-income countries, which it said could trigger sudden shocks.
“While contained for the moment, the risk of a much broader freezing up of capital markets and a global crisis similar in magnitude to the Lehman crisis remains.
Go here for the World Bank Video:
and here for the data: