World Bank Says Global Economy Will Shrink in ’09

[47of74]

Source: The New York Times

WASHINGTON — The economic crisis that started with junk mortgages in the United States is causing havoc for poorer countries around the world, not only stifling their growth but choking off their access to credit as well, the World Bank said on Sunday.

In a bleaker assessment than those of most private forecasters, the World Bank also predicted that the global economy would shrink in 2009 for the first time since World War II. The bank did not provide a specific estimate, but bank officials said its economists would be publishing one in the next several weeks.

Read more: http://www.nytimes.com/2009/03/09/business/09bank.html

---

Gee, thanks Republicans. You not only managed to screw up our own economy, but the world's too due to the interconnectedness of the global economy.

[Roland99]

1. Obviously, it's Obama's fault for increasing the top tax rate from 35% to 39.6%

At least CNBC says he's destroying the markets.



ah ha ha ha ha ha ha ha ha ha!!

[cosmicone]

2. In another prediction,

World Bank said water is wet.

[47of74]

5. No, what they actually say is...

Water burns and fire is wet.

[Trajan]

3. Wow .....

Everybody, including Stewie the gardener, already knew this .....

That World Bank; Right on top of it .....

[Snazzy]

4. That's what happened to Wolfowitz in '07 n/t