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Ear to the Ground

World Economic Growth Slowest Since WWII

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Posted on Jan 28, 2009
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Floor traders around the world have been feeling the pangs of slowing economic growth.

The world economy this year is likely to grow at a rate of only 0.5 percent, according to the International Monetary Fund, which re-evaluated its figures after the U.K. officially entered into recession last week. The growth rate, as projected, is the lowest in more than 60 years.

The BBC:

World economic growth is set to fall to just 0.5% this year, its lowest rate since World War II, warns the International Monetary Fund (IMF).

In October, the IMF had predicted world output would increase by 2.2% in 2009.

It now projects the UK, which recently entered recession, will see its economy shrink by 2.8% next year, the worst contraction among advanced nations.

The IMF says financial markets remain under stress and the global economy has taken a “sharp turn for the worse”.

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By dihey, January 29 at 6:48 pm #

The economists who concluded that the capitalist business cycles no longer occurred were dead wrong. I am amazed that this voodoo subject of economics is still taught in our universities.

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By Shift, January 29 at 3:34 am #

The economy is flat!
What happens when you get to the edge?
You fall off!

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By samosamo, January 29 at 12:00 am #

Our ‘elite’ wise ones will not suffer in the least due to the sacrifice of us, their victims. I still have yet to see any one call this for what it is and what it really means. The ‘elite’(crooks everyone of them) have declared war on the masses, mostly because they have recognized the plight that 6.6 billion people have generated on this planet. They want more room and exclusive access to what is left of the natural resources. They will hold and maintain a modicum of the masses to serve and cater to their wants and needs and who will be held to what laws ‘elites’ enact for control.
I really believe that this is a reason for the financial down turn all around the world and what better way to get the people to turn on each other than to clip the financial system so that much will not be available. Whatever the outcome, there will certainly be a different world. Read Naomi Klein’s ‘The Shock Doctrine’ for a better understanding of the possibilities.
And this is another point, taking NO consideration of the overpopulation of humans will not povide for non-violent solutions. The reason there is less for most is because of the economic and demographic systems that have severely disrupted the environmental systems that would provide for an adequate life. Witness all the hungry masses that every one is led to believe that can be fed, but what surely would not be a very nutritious diet for a healthy life. Its war and to just accept it will maintain the status quo for those few that benefit.

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By octopus, January 28 at 8:33 pm #

The leaches and greedheads will need another “hobby”,
other than their usual rape and run game. Sustainable, reasonable growth is better for humanity as a whole, but real money is made with “bubbles”.

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By Sean, January 28 at 4:35 pm #
(Unregistered commenter)

Good. Awesome.

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By godistwaddle, January 28 at 3:43 pm #

The earth has 6.5 billion people.  How long can “growth” continue?  Soon, methinks, we’ll be giving Darwin awards to just about everybody.  We’ll be dying from our own collective screw-ups.

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By michael roloff, January 28 at 3:03 pm #
(Unregistered commenter)

no growth means it will burn up that much later! and with fewer folks aboard perhaps!

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