This page has been archived and commenting is disabled.
World Bank Cuts Economic Outlook, Says Europe Is In Recession, Warns Developing Economies To "Prepare For The Worst"
This will hardly be a surprise to anyone with 3 neurons to rub across their frontal lobe, but at least it is now official.
- WORLD BANK CUTS GLOBAL GROWTH OUTLOOK, SEES EURO-AREA RECESSION
Bloomberg, which just released an embargoed summary of the World Bank action, summarizes it all.
- World Bank cuts global growth forecast by most in 3 yrs as euro area recession threatens to exacerbate slowdown in emerging markets, World Bank says in Global Economic Prospects report.
- Sees world economic growth of 2.5%, down from June est. of 3.6%
- Sees euro area GDP contracting 0.3% in 2012, compared with pvs est. of 1.8% growth
- World Bank estimates euro area entered recession in 4Q
- U.S. outlook cut to +2.2% from +2.9%
- Japan forecast cut to 1.9% growth from 2.6%
- China’s GDP growth will slow to 8.4%, unchanged from interim revised projection released in Nov.
- India forecast cut to 6.5% from 8.4%
And the punchline:
- World Bank urges developing economies to “prepare for the worst” as it sees risk for European turmoil to turn into global financial crisis reminiscent of 2008
- Even achieving much weaker outcomes is very uncertain
Morgan Stanley may want to revise their 37% Muddle Through probability outcome, to something more like 36.745% on this news.
- 24298 reads
- Printer-friendly version
- Send to friend
- advertisements -


US stocks to rally 10% tomorrow on the bullish outlook.
better than expected
Bullish views have been hyper re-hypthecated.
Market now "The Little Train That Could."
"I think I can, I think I can...."
Priced in bitchez lol
Is it true? Is Mr. Durden building an Army?
So is Egypt now considered a re'developing' country?
Oh and check out the Drudge, they have an article linked up that has a German blaming the USA for the influencing the S&P downgrades... FX WAS!!!!!!
...
It's looking more like the $10T bailout story may in fact lend some validity. These guys always threaten deflation prior to another round of printing. It keeps the commodity sector in check.
Not so much threaten as reveal, but yes. The prestidigiflationists are working overtime.
HOPE AND CHANGE!
YES WE CAN!
And now news surface about the true reason of the cancelled joint wargames in the middle east. No, it wasn't "budget considerations".
http://www.debka.com/article/21656/
As a side note, Netanyahu has an IQ of over 180, while Ogolfer's hovers arond 75.
Debka = Politburo
You must have transposed fearless leaders IQ.. it's more like 57.
The underlying message was that the Israeli government felt free to attack Iran's nuclear sites on its own if necessary and at a time of its choosing.
debkafile's sources report that Netanyahu decided on this extreme course after careful consideration when he judged the Obama administration's resolve to preempt a nuclear Iran to be flagging, as indicated by four omissions:
1. Washington has taken no action against Iran's capture of the RQ-170 stealth drone on Dec. 4 more than a month after the event, and not even pressed President Obama's demand of Dec. 12 for the drone's return.
Tehran, for its part, continues to make hay from the event: This week, our Iranian sources report, the Islamic Republic circulated a new computer game called "Down the RQ-170." Players assemble the drone from the components shown on their screens and then launch it for attacks on America.
2. Silence from Washington also greeted the start of 20-percent grade uranium enrichment at the underground Fordo facility near Qom when it was announced Jan. 9. Last November, Defense Minister Ehud Barak warned in two US TV interviews (Nov. 17 and 22) that as soon as the Fordo facility went on stream, Iran would start whisking the rest of its nuclear facilities into underground bunkers, out of reach and sight of US and Israeli surveillance.
Barak made it clear at the time that Israel could not live with this development; therefore, the Netanyahu government believes Israel's credibility is now at stake.
3. Exactly three weeks ago, on Jan. 3 Lt. Gen. Ataollah Salehi, Iran's Army chief, announced that the aircraft carrier USS Stennis and other "enemy ships" would henceforth be barred from entering the Persian Gulf through the Strait of Hormuz . Yet since then, no US carrier has put this threat to the test by attempting a crossing. Tehran has been left to crow.
4. Even after approving sanctions on Iran's central bank and energy industry, the White House announced they would be introduced in stages in the course of the year. According to Israeli's calculus, another six months free of stiff penalties will give Iran respite for bringing its nuclear weapon program to a dangerous and irreversible level.
http://www.debka.com/article/21656/
Clearly this spells attack for Iran.
"As a side note, Netanyahu has an IQ of over 180, while Ogolfer's hovers arond 75."
All idiots that pay money for online IQ tests tell anybody who will listen their IQ is 180.
I'm glad I'm not a genXer. To them, all life revolves around facebook and being online.
Your reply also means all those online IQ tests you have taken say you are not gifted.
I bet you brushed your teeth 3 times a day with lots of toothpaste while young like those "intelligent" doctors wearing white coats ordered you to do.
Which is so much worse than being around ZeroHedge and being online?
No worries, he won't be around when the popcorn starts... old fool will be depending on computers to keep him alive.... oh' the irony of the elds...
Pretty soon, it may revolve around being in the Marine Corps. I'm shocked that anyone thinks the Magic Kenyan is weak! Peace through pussiness!
All right Ahmee, but did ya know that NutterYahoo's elder brother was the leader of the "rescue" forces in the Entebbe fiasco?
Huuuuuh? Interesting no, how the same family's keep showing up in the same theaters?
Entebbe set the stage for "Terror" in the world of planes.
Enough said, eh?
Bibi my ass.
ori
/1460-days-ago-
The other question of the day is, Where the fuck is Jon Corzine and why is his head not in a bag somewhere?
Because he has bulldogs with machine guns and we don't, no law, just might equals right didn't MF Global teach all of you that?
I believe he knows where and to whom to contribute. That and Holder is 100% for sale when it comes to race and the Magic Unicorn Presidency.
Who is Eric Holder?
and gold will drop under 1,000. Party all around.
Play close Attention now boys and girls. Everyone has been waiting for it to happen. It's here. The first dagger has just been thrown. They won't be able to print this much money and hide it from the American public anymore. Everything that ZH has been talking about might come full circle very shortly.
I'm am now bearish as fuck. The shit is going to it the fan now. First a quick market ramp up then look out below.
Never underestimate the ignorance, we elected Obama. If we are this easy to fool, well, ....
gold curiously weak tonight. pre margin raise selling? http://hedge.ly/gFWVSm
Everytime gold goes down there is some fucking conspiracy, holy shit. It could be down .50 and someone will be crying about manipulation or something.
Sneaky bastards, aren't they ???
It's down 8 bucks, they're really greasin' the skids tonight.
No doubt its in permanent backwardization, from this point going forward...
We're okay as long as it doesn't do a reverse backwardization with a half twist.
It's all about the reverse Triple Lindy
Thanks for that, Dean Martin...
Thought that was RodneyD? hmmmm
Didn't Hugh Hefner date them?
I thought that was the Reverse Triple Cowgirl....
You're thinking of the inverted reverse cowgirl, which, as we all know, is bullish...
Until decoupling occurs....
Its only down a buck now, our stacks are, once again, safe...
It's cause you guys were keeping an eye on it. Decided not to do that 8 buck sneak.
The Careless Whisper Trivia Question Of The Night & Threadjacking (dont think they wont give up on SOPA)
Where is Jack Valenti buried?
I will post the answer down below somewhere.
Next to Jimmy Hoffa ?
In a garbage bag next to John Wheeler III, New Jersey landfill?
And who the heck is buried in Grant's tomb?
Arlington National Cemetery.
bingo, war hero
Mistadobalina Mr. Bob Dobalina. . .
Mistadobalina Mistabobdobalina Mistabobdobalina
LOL.. so true .
some buy metals to make paper and some buy metals to lose paper .
well technically Bob it is either manipulation or something else. Otherwise apparently there is a 37% chance it would muddle through
The asians giveth and taketh away...
Is that the same as a "happy ending"?
I see what you did there !!!
bob_dabolina
"Everytime gold goes down there is some fucking conspiracy"
I knew there was something goddamned fishy about that cruise ship running aground.
Gold smuggling bastards!
Dear Angela,
I write with regret to inform you that Germany's gold that had been placed in custodial care by the NYFRB was aboard the Costa Concordia. My sincerest apologies.
Truely,
Timmah Geithner
So that explains the cowardly little captain in the life boat.
Your gold was lost in a tragic boat accident.
My vote for funniest comment of the day, although it may be "too soon".
1.) IMF is a likely seller with an intention of raising cash for EU bailouts.
2.) Mr. Paulson is more than likely raising cash as well because of redemptions.
Translation: Crank up the printing presses bitches (oops... sorry, I mean "liquidity").
Perception management at its finest. Nothing wrong here, carry on old chap. Oh, wait a minute, full astern, hard to port. Man the life rafts, every man for himself.
When this is all over, neither the bulls nor the bears will have much meat left on their bones.
Everybody... Quick... Run to the side of the boat that's sinking slowest...
Impossible ! Thats uphill at a 45 and my walker is only good when its level!
(The following comment is to be read in your mental Gomer Pyle voice)
Surprise, surprise, surprise...
2008 is not "the worst".
Prepare for war. Prepare for countryman against countryman. Prepare to be stripped of your liberties. Prepare to fight back.
"Prepare for 2008" is like "prepare for bedtime" compared to the nightmare to come.
That bad? Guess I better pop in that Jeremiah Johnson VHS and bone up.
This ain't good, there's 20,000 people in my town and I only have 10,000 rounds...
I guess it is a good thing I stopped buying gold and silver and started buying guns instead. I just hope I don't actually have to use them to the degree that some people imply when "the shit hits the fan" be that as it may I'm prepared to if it really came down to it.
Anyway... at this rate it's more like "the shit filled bubble hits the ceilling"
Your just gonna have to line up your targets is all.
Then I have to inform you your under pepared and under a whole lot of duress
How can you shoot women and children?
Goldbugs and silverbugs share a large part of responsibility in this new crisis.
If all the money pumped into a useless yellow rock went into the global economy, we wouldn't be here today to deplore the fact a new recession is here. It's almost a crime against humanity if you think about it thoroughly.
Hamy. I think that is quite possibly the dumbest thing I've ever read. As far as trolls go you are top notch.
LOL
How can that be true?
I mean Ben his very own self said there ain't enough gold to even back the dollar no more, it's a useless barbarous relic, held by only by central banks for tradition's sake.
This Hamy ain't been listenin' to the folks who Knows.
Hey Ham, why dontcha give us your address and we'll take up a collection and send ya' a copy of Paul Krugman's Greatest.
Whatta maroon!
Yeah the pitance pumped into physical gold is really affecting anything when the deficit is two trillion per year in one country alone.
I guess I could sell my gold and go buy some big macs and lulu lemons and everything would be just fucking fine. Wow.
Hamy, your back.. MDB tried to take your place but we kicked him out.. Food, that's the problem, all those folks buying food, just think of it all that cash, snap cards etc, injected directly into banks and stock markets we would all be trickle down rich..
Welcom bak I feal tupider alreedy..
lol...you pumping anything or anything pumping you, is a crime against humanity.
stealing that...
Hamy's still tryin to "think it through thoroughly". Theres more than one level involved there so it might take him a bit...lol.
His is an amazing comment (irregardless of the amounts involved) as it shows how some people think. You see, those are not yours or my earnings/savings to him...to do with as we please. Excess should be apportioned according to their collective plan, not any individual one.
Quite amazing really when you bore down into it.
Yes amazing and all the reason a thinking man needs to resist..
HUH?
Gold ain't a rock DS, its an element...
Whatever it is, everyone wants it. And Silver too. They are almost like magic metals. People are drawn to them. My hats off to these central banking cocksuckers who've managed to trick the world into taking paper as a substitute. That's no mean feat. However, these hypocrites know that in the end the noose and the ten foot drop awaits them if (when) they lose total control and fiat currencies melt down.
Welcome to DEADWOOD...Cocksucker!
It's always all about the GOLD!
Best damn TV series EVER!
Watched it again while getting over the flu during the holidays.
http://www.youtube.com/watch?NR=1&feature=endscreen&v=2OhL32Pvg4M
Language in Deadwood
http://www.youtube.com/watch?v=PgaEYyIjykM&feature=related
Hey Hamy the american flag was founded on a gold backed currency. You retard.
and not just retard but the Zach Galfinakis re-tard
r'tard
Thomas Jefferson was actually in favour of a PAPER-based currency. This is evidenced by the fact that NO gold coins were ever minted by the US Treasury for daily use by the population: only bank bills.
"Thomas Jefferson was actually in favour of a PAPER-based currency. This is evidenced by the fact that NO gold coins were ever minted by the US Treasury for daily use by the population: only bank bills."
This one is a wanger wall hanger.
Jefferson understood how hard it is to fold metal!
Paper Folds!
Paper Prints!!
Paper is Lite!!!
Paper is inexpensive!!!!
Jefferson knew and loved these things about Paper Money!
Hamy I checked my history and after reading "Thomas Jeffereson advocates quantative easing" I was blown away. I guess that explains thins: Jefferson died on July 4, 1826 at the age of 83, heavily in debt.
Wikipedia bitches.
Hard to believe Hamy could mix so much up in so little space...but he pulled it off.
“Paper is poverty,… it is only the ghost of money, and not money itself.”~Letter to Edward Carrington, 1788
are you saying that $900 Trillion in Paper Derivatives is going to make the World Poor NOT! Rich?
How dare You Fine Sir! say such blatant things in the face of yet more printing!
Trickle down is tough Love wrapped in distain!
Embrace Your Servitude(s)!
Fascinating tidbit: Thomas Jefferson and John Adams both died on the same date, July 4, 1826, the 50th anniversary of the country's founding.
The John Adams mini series on HBO was very good.
Wiki it now before they shut down in protest tomorrow.
True dat...SOPA protest.
Libraries bitchez.
The Reason Jefferson died in debt stems in large part, not because he was a spendthrift like they teach in school, because he had borrowed scrip, and later his creditors demanded specie (gold).
Anyone with an interest in being remotely honest, regardless of their opinion today on banking, money , debt &c, knows without question the framers HATED paper money, bills, etc, having direct knowledge of the ruinous features of printing press and went to great lengths to prevent it ever happening again.
A paper based currency works just fine given that it remains within certain boundaries. Given Human nature however, it never remains within those boundaries...
Try this guy. if you dont LOVE! his shit! I will eat your shorts!
http://www.youtube.com/watch?v=quxUAY0JqQI&feature=g-all-u&context=G22cf270FAAAAAAAAUAA
LIEBYA & SAUDIA OILRABIA - FKN Newz 2011 part 3
Uploaded by fknnewz on Jan 17, 2012
http://www.fknnewz.com - this is a highlights show made for TV - SKY Channel 203 fri at midnight
Happy New Year! Hulky!!
God Bless You and Yours!!
signed, Christian Constitutionalist
see something (like me) report me!
I saw your mugshot JW, nice picture!
Soooooooo.... Those 1795 to 1932 $10.00 and 1796 to 1932 $2.50 and $5.00 GOLD COINS are just figments of numismatists imaginations then?
Not to mention the $1, $3, $4, $20 and $50 gold coins that were produced up to 1933.
What'd they call'em again?
Oh yeah. Silver Dollars.
So was the Greek empire, the Roman empire, the Ottoman empire, and the British empire.
all that wasted money on shinny metal! when we could have given it away to market makers instead! LULZ!!
My friends.
Please watch on this link as Dr Ron Paul correctly predicts almost every geopolitical event of the past 10 years.
In one goddam speech....
http://www.wealthwire.com/news/liberty/2485?r=1
http://www.youtube.com/watch?v=6a0zhc1y_Ns
Former World Bank President: Big Shift Coming
Keiser Report: Economics of Suicide (E237)
http://www.youtube.com/watch?v=PpEuzBmfH3g
China gets Cheap Silver and Gold.. over night long, day time short.. FACT! and China gets cheap oil! after American dollars took China Vertical from a horizontal backwards farm nation.
America has shipped how many millions of manufacturing jobs to China?
America provides cheap gold to china.
America Provides cheap energy to china.
and America still is China's largest importer of cheap trinkets..
so America exports wealth to china and in ports china's 3rd world lifestyle!
Look at the FACTS!
America built the middle east… America built India! America Built South and Central America! And now America is building China!
America’s Wealth was shipped around the World so that every Country (or important Country, Tier 1 wanna be’s) would be on semi-equal footing!
America has been gutted for the benefit of the rest of the World.
since China joined the World Trade Organization in 2001. Over the last ten years, China has mounted the biggest challenge to the U.S. manufacturing sector ever seen, threatening producers of steel, chemicals, glass, paper, drugs and any number of other items with prices they cannot match. Not coincidentally, the United States has lost an average of 50,000 manufacturing jobs every month during the same period.
http://www.forbes.com/sites/beltway/2011/02/14/intelligence-community-fears-u-s-manufacturing-decline/
12 months a year.. multiplied by 10 years =’s 120 months! 50,000 multiplied by 12 months equals 6 million Manufacturing Jobs.. and these numbers are SOOOO! VERY!! LITE!!!
I don’t care what they say on the Corporate owned news.. or how the facts are being spun today.. the Bottom Line! Is that America has exported its Wealth to the Middle East, South / Central America and China! There are more places but that’s not the point.
America has gutted itself to spread the wealth globally..
American Congressmen and Senators have SOLD! America’s wealth for pennies on the dollar!
There are STILL! No great Infrastructure Projects going on in America! Shovel Ready? Change we can believe in?
Wake Up!
Look at the Facts! Not what you are being spoon fed by some Corporate Media, 5th Ave. Multi-Market Tested, Feel Good Bullshit News Repeater!
It's not a rock other than that I have no concerns.
HEY!!! Thats my line at 21:26 you douchebag you...
I love the rare times that this community gets just plain "punchy..."
I mean, sometimes, you know,... what else can you DO?
Preciously...
if you think about it thoroughly.
By "thoroughly" do you mean under the influence of an entire sheet of acid?
....washed down by THE very best uncut 'Shine....
Hamy is the personification of a fiat Mr.Natural...lol.
/sarc?
So what happens to the money the "irresponsible" use to buy gold/silver after the transaction is complete? Does it just *poof* into a cloud of yellow uselessness, forever gone to the global economy?
Oh, Hamy, how I miss the Mogambo Guru:
Hahahahahahahahahahahahahahahahahahahahahahahahahahhahahahahahahahahahahahahah!
OMG! It is the Mogambo Guru! For only he could laugh beyond the text boundary!
Nice try, Hammy. If I sell my gold and spend the money then I'll be doubly screwed: no savings left AND with everyone spending inflation will implode my remaining buying power.
Therefore: Sell Gold = Poverty
I bet Tyler has Hamy Wanker on ZH payroll to post stuff that would even embaress Joe Biden and to get the folks here on ZH riled up LOL!
Of course he is, but that does not diminish his utility or dilute his usefulness, every idea requires a foil for true exploration.
yes hammy the wonder troll.. its not the crushing debt and the endless war that's killing economies . Its the gold and silver buying. What a stupid comment.
You mean when someone buys something that the currency used in that transaction goes OUT of circulation?
HamyWanger,
When we (not you) buy little pieces of irrelevant gold with fiat pieces of paper, what happens to those pieces of paper? If you know the answer to that question, then you'll know that money is not wasted. When some rich moron spends $36 million dollars on a pieces of equally useless art. What happens to that money? It's not destroyed so it's not wasted. Money is simply redistributed.
" if you think about it thoroughly"
..............................
Hammy, I don't believe that you have thought about it thoroughly...
someone didn't take a nap today
Hamy, MDB, or who ever you are posting under;
You need to tighten the zipper on the back of your head, air has leaked into the wrong socket. Full Retard or a good little troll. Pick your car and pick your lane puppet.
well, back in reality, the real reason is because people/corporations/govts etc started buying things they couldnt afford with money that never existed, but yes, keep blaming people who decide to invest in something that has been used as currency/money/etc for hundreds of years, but i do see your point. retard
I upped your arrow, just because I like your screen name.
after reading this crap from hammy for so long I have to say this guy is a dick. Disregard this 99'r and move on. He is worthless of reading.
I volunteer to pour all remaining fiat into AAA+++ rated NINJA-mortgages backed securities to support global productive economy provided I can get some of this barbarous relic for its intrinsic value (zero if I got it right last time).
march madness= when everyone takes thier ball and goes home
but they said they would fix it. They said that they had a plan.
So it all must be OK then now, right?
Or am I missing something?
I am pretty sure that "prepare for the worst" means "grab your ankles" in bankerspeak. At least in developed countries we have socks (prevents chaffing).
LOL.
Well, if 2008 was the "KY treatment," then the next go-round should be the "fist-in-the-tub-of-lard-ala-Caligula treatment."
Whoaaaaaaa man.
Next up is hotdog down a hallway followed by marble in a soccer goal and finally we arrive at bus in outer space even.
Dude....
1.) Torrent Caligula
2.) Watch Caligula
3.) Delete Caligula
4.) Slick your hard drive
5.) Blow up your computer with dynamite
6.) Throw the ashes in an old abandoned well
7.) Cover ashes with nuclear waste
8.) Put up signs in a ten-mile perimeter forbidding passage beyond.
Caligual is pretty mild IMHO.
However, the movie "Salo" all the way from 1976..... http://www.imdb.com/title/tt0073650/
Makes you wish you could un-see some things.
Are you implying that Lagarde only has two (or one) neurons located in that region then ?
http://news.yahoo.com/europe-may-avoid-recession-imf-says-report-060733498.html
Everything comes in threes...
Cept eggs...
Yeah. I only got two eggs.
And they're tough nuts to crack.
Try shaving first, hair absorbs a lot of energy...
Hmmm...never thought of an egg.
Well, it is interesting.
Not my shotgun it cycles in 6
Divide by two ;-)
LOL Plus 1
cheers!
Donuts come by the dozen.
Divide by four ;-)
you have to subtract the holes first...
Eureka!!!