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World Bank sees even worse slump

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posted on Jun, 11 2009 @ 03:50 PM

The world economy will shrink by much more than previously thought, according to the World Bank.

Big shock...not.

The world economy will contract by 3% this year, far more than the 1.75% drop it predicted earlier this year.

"Most developing country economies will contract this year and face increasingly bleak prospects," World Bank president Robert Zoellick said.

The gloomier forecast comes despite recent signs that the worst of the recession is over.

This year is likely to be the first global recession since World War II.

When will people realize and wake up to what is coming?

Not everyone has access to ATS I guess

posted on Jun, 11 2009 @ 04:23 PM
The recession isnt over...awesome post by the way, as all your posts are

i work in retail, for a cvs/pharmacy in southwest CT. Yesterday i found out our sales have dropped ugly according to business percenteges...our store was something like 12% less profit than last year... a larger store up the street was down 24% in sales, since last year. People are coming to buy things, but not like joke. Before this mess, people would buy things they didnt need! As seen on tv, 3-4 packs of 8 pack paper towels, whords and whords of suar and candy(which is what i see thems till buying by majority, which i cant figure out), ect. Now, thier only buying what they only need..enough to last the week or month, not 3 to 4 months. We are selling and moving merchandis much slower than normal, but hten agian, cvs has the highest prices comapred to walmart and walgreens... CVS= money hungry CEO coporation.
So, to read this post, is makin me think...i have seen prcies go up somewhat, since august last year...mostly on soup and coffee...chunky and progresso soup last year, were at about $2,79 a its $3.19 a can. Dunkin doghnuts and starbucks bag coffee(the samll bags) were at about $7.99, no $9.99 a bag! We have it lucky with ciggarettes though...we always have marlboro on sale for around $5.49 a NY its jsut under $10.00 a pack! I had read abuot opssible hyperinflation perhaps setting in. i dont necessarliy see it yet..except for the prices on soups and coffee...

posted on Jun, 11 2009 @ 04:25 PM
Want more proof?

yes we are in for trouble.

posted on Jun, 11 2009 @ 04:26 PM
Do you know, that since our day started today at around 8 a.m., and to this moment, that 2,109 homes in the United States have been foreclosed? And the same amount were yesterday and the day before that, and will be tomorrow and next week and next year....

Did we pay all our high-dollar politicians to get us into this mess?

posted on Jun, 11 2009 @ 04:39 PM
the the perviable S#@# is going to hit the fan wise and people just dont realize....S&F

posted on Jun, 11 2009 @ 06:37 PM
reply to post by paradiselost333

It's going to more than that when the money hits.

Remember the White House is going to try to dictate what companies can pay their CEO's. And if you believe for one second it is only the companies that got bailout money your are believing wrong.

I keep hearing how he doesn't want to run auto companies but while his lips are moving I see doing the complete opposite.

There is about to be a *storm. As somebody else on this site put it. "I can see the flames looking over the horizon. "

Good news is they say Britain is out of the recession.

Why do I have this strange feeling that the entire worlds control structure is about to collapse. I'm not very religious I believe in God but don't belong to any religion.

But biblical prophecy is seeming to come true in some aspects. The question I have is it self-fulfilling prophecy or divine. I don't know all I know is things are going to get ugly and there are going to be some really really ticked off people.

posted on Jun, 11 2009 @ 06:56 PM
Good thing I am already poor, I know how to do it.

Hey, I know...maybe I can give lessons to all the people that don't have a clue on how to survive on nothing.

This sucks, not for me so much I don't have much, but for all the people that have homes, families and investments this is criminal. MY mom has lost over 50% of her living income her investments took such a bad hit.

Wake up people, anyone heard of Mad Max?

posted on Jun, 11 2009 @ 08:09 PM
reply to post by ziggy1706

Soup, Coffee, 1.5 litter juices, gum, ice cream a couple other things

on the flip side the price of newspapers has decreased...$0.25 to $0.75 now, used to be $0.50 to $1.25...

property values stopping their climbs and in some cases dropping

It appears gas is going to shoot back up this summer, again and perhaps breaking new records

Historically speaking depression type recessions have beaten by engaging in wars, revolutions or coup d'etats. Before entering WW2 the US was in the midst of the great depression. Producing war machines, weapons and all the supporting items and industries is what eventually got the economy going again.

all we can do is wait and see

[edit on 11-6-2009 by warrenb]

posted on Jun, 11 2009 @ 10:02 PM
reply to post by Hastobemoretolife

I am not a religious man but I do believe in a “creator” and I think the only reason some bible prophesy comes true is because man makes it happen!! for the simple fact it is bible prophesy … lol but I agree that There total power structure is in jeopardy and is why you see these untold trillions going out without a second thought ………..creator help us

posted on Jun, 11 2009 @ 10:13 PM
So who's telling porkey pies?

June 12th 2009 - IMF

THE International Monetary Fund has revised its 2010 growth forecast sharply upwards, a source said overnight, while surging Chinese investment in May also fueled hopes of a global recovery.

The IMF raised global growth estimates for 2010 to 2.4 percent from 1.9 per cent, and confirmed its April forecast for a 1.3 per cent contraction in 2009, a G8 source who has seen the latest figures said.

June 11th 2009 - World Bank

The world economy will contract by 3% this year, far more than the 1.75% drop it predicted earlier this year.

"Most developing country economies will contract this year and face increasingly bleak prospects," World Bank president Robert Zoellick said.

[edit on 11-6-2009 by Agit8dChop]

posted on Jun, 11 2009 @ 10:41 PM
reply to post by paradiselost333

For sure, that is what I think too, I think a lot of it is self fulfilling. I tell ya though the spin machine is running on overdrive here lately.

I don't think they can pull it off personally, everybody know you can only lie so much before it catches up with you and when it does you lose all credibility.

Just like the two articles that Agit8dChop posted right above me.

People are being ever more the critical of the economy and there is no way stuff like this slip past people.

It's all going to catch up with them, and they are going to have to do something different than the status quo. The game has gone on too long for them not to take a loss.

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