World Bank's crisis warning

World Bank's crisis warning

www.smh.com.au

The World Bank says the global economy is on the edge of a new financial crisis, deeper and more damaging than the one that followed the collapse of Lehman Brothers in 2008.

Its latest six-monthly assessment of global economic prospects halves its forecast for growth among high-income countries, and pushes its forecast for countries using the euro into negative territory.

(visit the link for the full news article)

Its latest six-monthly assessment of global economic prospects halves its forecast for growth among high-income countries, and pushes its forecast for countries using the euro into negative territory.

It has slashed its global growth forecast for 2012 from 3.6 per cent to 2.5 per cent. High-income nations are forecast to grow at 1.4 per cent rather than 2.7 per cent. The euro area's economy will shrink 0.3 per cent.

However, the bank warns "even achieving these much weaker outcomes is very uncertain".

"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."

Although contained for the moment, there is a risk of a "much broader freezing up of capital markets and a global crisis similar in magnitude to the Lehman crisis".

In the event of such a crisis, "activity is unlikely to bounce back as quickly as it did in 2008/09, in part because high-income countries will not have the fiscal resources to launch as strong a countercyclical policy response or to offer the same level of support to troubled financial institutions".

Read more: www.smh.com.au...

Personally I think the World Bank is underestimating the damage that the coming crisis will cause, but it is good at least to see that somebody in the banking world is taking notice of what many of us have known as inevitable ever since the 2008 GFC.

www.smh.com.au
(visit the link for the full news article)

reply to post by Kryties


Dear Kryties,

The real problem is not the coming currency crash, it is the solution that truly enslaves us. Peace.

So it begins!

The Dominoes are lined up just needs a flick to knock them all over.

Oh noes, fear... their damn fiat currency system shouldn't be in place in the first place. this is what happens when you run the printing press non-stop.

Now they are trying to scare people. wow... create a crisis and then use that crisis in their favor... hmm sounds familiar.

for those of us who have been following this closely its been a long time coming. it seems i have been waiting for things to go *ss up for years. just when you think this it....they do something to put if off. i am really starting to think maybe its all just fear mongering. i have been following this for almost 5 years now thinking "this is it". i think im almost done worrying. it takes too much out of you.

reply to post by ugie1028


They are certainly not 'creating' a new GFC just to scare the pants off people, they are merely confirming what many of us have known since even before the 1st GFC - that the system we currently use is rapidly approaching a catastrophic climax.

Originally posted by bellagirl
for those of us who have been following this closely its been a long time coming. it seems i have been waiting for things to go *ss up for years. just when you think this it....they do something to put if off. i am really starting to think maybe its all just fear mongering. i have been following this for almost 5 years now thinking "this is it". i think im almost done worrying. it takes too much out of you.

Dear Bellagirl, First it was Heavens Gate and the Branch Davidians in the United States. Then it was Y2K in the year 2000 and then 9/11 in 2001 and the 2 Iraq wars that our Diggers fought in. I have worked for the RAAF for over ten years going to these so called forums to see what is, what the intel calls leaking. But it is always a financial crisis is it not Bellagirl? One financial crisis after another. And if the great messiah, the great President Barrak Obama would admit it, the United States went into a depression in 2008 and not a recession. I have heard all of this doom since the 1970,s and it will drive you insane. If you are a Christian then turn back to Christ. Go back to the Catholic Church if you have wondered away. These war time real time scenarios I go through every morning has made my faith stronger. I am sick of it too Bellagirl. Everybody live in fear. It is not what God intended. And next Month I am out of here and it is time to Dob some governments out.

reply to post by shannon83


you have hit the nail on the head! when i think about it, it has been 15 years of constant fear. i think it is only more obvious these days in the constant news updated world. for me i suppose it started when i first subscribed to pay tv in the late 90's. being a news junkie, i always watched the 6am and 6pm news and read the paper daily before, i found that i had access to news 24 hours a day. sky news, fox news, cnn and bbc only added to that availability. then after 9/11 it became an obsession in certain ways. had to know - had to watch - had to be well informed to save my small children and family if needed.

Originally posted by bellagirl
reply to post by shannon83

 

you have hit the nail on the head! when i think about it, it has been 15 years of constant fear. i think it is only more obvious these days in the constant news updated world. for me i suppose it started when i first subscribed to pay tv in the late 90's. being a news junkie, i always watched the 6am and 6pm news and read the paper daily before, i found that i had access to news 24 hours a day. sky news, fox news, cnn and bbc only added to that availability. then after 9/11 it became an obsession in certain ways. had to know - had to watch - had to be well informed to save my small children and family if needed.

The coming Global Financial Crisis:
To my friend Bellagirl: After watching 17 videos on the government dime today on the Global Financial Crisis I have something to say. I have access or can get access to any news outlet in the world. I was addicted to the American Fox Cable News Channel for 3 years. I even have there bloody apps on my mobile phone. Everybody Bellagirl wants control in there life. I have 3 children and one grandchild. I worry about there quality of life. We have 21,560.000 plus in Australia right now. Do you remember your childhood? I grew up when Dad was stationed in the United States during the cold war. I had an awesome fear of Russia which carries over to this day. It was always the eminent threat off outright Thermonuclear war. Yes lots of nuclear warheads flying over Canada to the United States. Well I think that you said that you have children also. You love those children, do you not Bellagirl?

Sure you do, more than anything in the world!!! Control!! We all want control in our personal lives and we want to make money and live in peace, do we not? So far our Aussie ASX is looking good at always around 4000 points and more. It is one of the few stock markets in the world that does look good. But they control us through fear. The Dow Jones Average always around 12000 points. It appears to me that there is a lot of unnecessary hype going on out in the free world to make money out of fear. If the masses are scared to death all of the time the big banks all over the world are making more and more money off of our fear. It is still control, Bellagirl. We want to control our lives to have peace within ourselves, and the secular outside world wants to control the working class person through fear!

Invest money in this bank, this annuities, this stock, this bond, this new company, this life insurance company and this, this, this, and the list just grows and grows and it never stops. All yea, all of these kind banks will give you great returns and thus and forth. All of this based on the long run, as fear and control. The Euro was a very poor idea. No wonder it is going to be waste currency. Do you know that in Greece you can retire at age 55? Spain is not much better. My American counterparts can not retire because of what the United Sates government has done to them. The retirement age for Americans is 70 years old for this generation.

It is just plain outright greed and fear and control that rules this world. Bellagirl, I do not want you nor any ATS member living under there kitchen table. I am paid to be afraid I guess but as I wrote before in the last post, I have seen it all before. Like I also said, I am a Christian and of course I can not be blind to all of this Global crisis stuff. But I do not live in fear and I do not let governments including our great government dictate to me how I am going to live.

They can close the Straits of Hormuz and let the show begin. Bellagirl, I will write you direct if I see anything that a mother of children in Australia should fear if some super war is coming. I want you to trust God, Jesus Christ and you know what I am talking about. I sit before a 2 metre by 1 metre screen with constant change on it that is suppose to control me.

God will love the fear out of you, if you will let Him Bellegirl. Stuff there great world war three. Stuff there Global Financial Crisis. Stuff you AAMI and ANZ etc. There is no global Crisis too big the HE does not know about. And BTW. I know all of the end time Biblical stuff so I do not need a self ordained prophets on ATS trying to spin this post. She will be alright, Bellagirl.
Shannon