- Silver Report Uncut
The world bank was warning that 70 – 100 million people are about to plunge into instant poverty as a result of what they call the deepest global recession in 8 decades. They predict the global economy will shrink for the first time since the 1940’s. They described this global recession as having unleashed a “devastating blow” on the global economy and that any hopes of a V-shaped recovery and greatly misplaced. The report goes on to say the global economy will contract for the first time since at least the 1940’s and emerging market economies will shrink for the first time in six decades — the result of the global economic downturn is between 70 to 100 million people will be thrown into instant poverty. This is a long way from the expectations of market participants which seem extremely bullish. The report investigates the depth and breadth of the economic impacts of the first half of 2020, It said the 2020 baseline forecast for Global GDP would be a contraction of 5.2% — the deepest global recession in eight decades despite unprecedented monetary and fiscal policy by central banks and governments. Emerging markets will shrink by at least 2.5%, the report said, adding that it will be the worst performance for the data since the early 1960s. There was also the poll from the wall street journal which asked if Americans feel that everything in the country is under control and a stunning 80% responded they believe the US is currently spiraling out of control which is shocking considering the mood on US market seems like there isn’t a care in the world.