Skip to comments.U.N. Presents Grim Prognosis on the World Economy
Posted on 12/19/2012 8:32:26 PM PST by Lorianne
World economic growth has weakened substantially this year and faces the confluence of a triple threat the so-called fiscal cliff in the United States, the European debt crisis and a sharp slowdown in China, the United Nations said in a report released on Tuesday. The worst case, the report said, could be a new global recession that mires many countries in a cycle of austerity and unemployment for years.
A worsening of the euro area crisis, the fiscal cliff in the United States and a hard landing in China could cause a new global recession, Mr. Vos said in the report, World Economic Situation and Prospects 2013. He said the forecast growth was far from sufficient to overcome the continued jobs crisis that many countries are still facing.
The reports proposals to avoid that outcome MORE GOVERNMENT PROGRAMS that focus on job growth, fiscal coordination and aid to developing countries are not likely to be widely embraced by policy makers in the United States and Europe, where the preoccupation is on budget cuts and spending discipline. Still, the report provides one of the most complete assessments of the worlds economic trends and reflects what United Nations experts view as the most pressing areas of concern.
(Excerpt) Read more at nytimes.com ...
Boy, if only there was a one world government. All the problems would be solved. /sarc
Has the UN ever found a problem who’s solution doesn’t involve “aid to developing nations”?
The world will be lucky if it is ONLY a recession.
Personally, I think we’re headed to a depression that will make the 1930s look like a 1 day market correction.
They’re leftists and so like spending other people’s money.
It’s genetic, they can’t help themselves.
We could create some revenue for America by applying a stiff property tax to the UN building, 95% income tax on EVERYONE who works for the UN, and a daily “administration fee” for “supervising” diplomatic immunity.
Show me one thing that doesn’t become “grim” once communism moves in. Communism IS grim.
“Sharp slowdown in China”???
Where does the writer believe everything is made?
Yeah - we’re going into the toilet.
Probably shouldn’t have put us in charge. :)
yup,.... as long as they have their agent of destruction in our White House.
America created 95 % of all current inventions and Barry doesn’t like that FACT.
Worse than that, he doesn’t like the fact that Israel has the most clever people (given their experience with the nuclear and neutron bombs) while he is supportive of IRan and the UN’s muslim nuclear club.
Thank goodness the UN is there to warn the global community that one of the grave threats is the “fiscal cliff” in the United States. If Ubama continues to insist, out of pure, vindictive pettiness, on extracting from his political opponents wholly symbolic tax hikes on “the rich” - - tax hikes that everyone understands are a tiny, insignificant drop in the bucket - - and ends up sending the US over the cliff, then the world will know, and history will record, that it happened on Ubama’s watch.
And most of the stuff they make is sold to American consumers - - those people who are about to get fisted by Ubama's massive tax hikes and therefore have less money to spend on... the stuff made in China.
When America slows down, China slows down.
Proves yet again something the bureaucrats simply do NOT want to see - that business success is achieved in INVERSE proportion to the number of bureaucrats.
Get RID of the bureaucrats, deregulate business, and watch economies everywhere flourish.
Government paper pushers want you to believe they’re your friends.
Nothing of the kind - their pointless activities and bloated salaries are killing economies all over the world.
This is the Marxist mentality embodied by Obama and his cohorts, and they are strangling the American economy.
Wow, so socialism is a world wide failure. Socialism - the lesson never learned - fails every time.
First...we can end the UN supported Free Trade Globalism nonsense....which is just another bad wealth redistribution program. If nations had to produce all what they use and consume...their economies would be better
The UN needs globalist warming stimulous. Fork it over or Algore blows up the planet.