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Is A Global Recession Coming? Even the Hyper-Corrupt World Bank Is Worried
Their new report gives three likely scenarios but doesn’t mention the actual path to freedom and prosperity
The US-controlled World Bank — a hyper-elitist institution whose very reason for existence is to debt-trap poor countries in order to drain them of wealth via austerity and the private corporatization of their infrastructure — just released a report last week to answer the question that’s on everyone’s minds right now:
Is a global recession on the way?
The TLDR is yes, but let’s back up a step and get some background info:
The World Bank’s CEO, David Malpass, is quite the piece of work: Not only did he work for Donald Trump, George H. W. Bush, and Ronald Reagan, but he was the Chief Economist of Bear Stearns — remember the company that engineered the 2008 crash? — for the six years preceding its collapse. Talk about failing up! Is this the kind of person who should be running the bank that’s supposedly in charge of “helping” the poor? The man should be in jail for his role in ruining the lives of millions.
His new job as World Bank boss is essentially to debt-trap the poor, rob countries of their assets, encourage inflation, and promote growth in the parasite anti-economy… the real economy and its billions of working wealth-creators be damned.
Having successfully destroyed the global economy once via Bear Stearns, he’s weaponizing his new institution, The World Bank, for a much larger second kill. In the words of the Foundation for Economic Education:
“The World Bank is helping Third World governments cripple their economies, maul their environments, and oppress their people.”
With that out of the way, let’s talk about the coming global recession!
The World Bank report forecasts three likely scenarios for the years ahead.
They are essentially the bad, the ugly, and the uglier:
World Bank Option #1: “Baseline scenario”
In this fairytale of a scenario, global growth slows and inflation “only” robs you of another 3.8% of your purchasing power by 2023… which is, of course, utter nonsense because CPI is a bald-faced lie and TruFlation is verifiably many digits higher.
World Bank Option #2: “Sharp downturn scenario”
In this almost-guaranteed scenario, we see a downturn worse than 2001 but paired with inflation that continues to destroy the real economy, leaving corporate-captured governments with “no choice” but to keep jacking interest rates, while raising taxes on the poor and cutting their essential services.
Considering the fact that 1.) there is still $16 trillion in Covid-printed dollars that need to be drained back out of this economy, and 2.) the Cantillon Effect isn’t anywhere close to being finished, we should expect inflation to stay and governments to try to “remedy” it in all the wrong ways.
World Bank Option #3: “Global recession scenario”
In this likely scenario, inflation continues to do what it’s been doing for the past year — surprising economists by not magically disappearing — causing governments to freak out and do everything but the right thing to get rid of inflation, sparking a global recession that leads to pain and suffering and privation for billions.
Or as the World Bank bureaucrats put it in their report:
“The potential for abrupt policy shifts in major economies [could] lead to acute global financial stress is clear in the historical record of global recessions.”
The World Bank Unmentionable Scenario: Straight-Up Depression
We can expect corporatist economists to always downplay and underestimate worse-case scenarios, as they have consistently done for literally all of their history. So let’s be sure to mention the other scenario that’s on the table: a very real depression.
If inflation keeps rising, governments can either let the poor bend until they break and start Sri Lanka-style revolutions, or they can keep raising interest rates until it trillions a wave of millions of bankruptcies and national insolvencies. This could lead to a dominoes scenario where the whole house of cards comes tumbling down, making 2008 look like a walk in the park.
From there, corporate-controlled governments will once again bail out the banks with taxpayer debt, and those banks will use the money to buy up more assets like they did after the 2008 crash, using the ratchet effect to push us one step closer to permanent, assetless, corporate serfdom.
But there is another scenario that global terrorists like the World Bank and David Malpass can’t fathom:
Superabundance for the bottom 99%.
Avoiding a Global Recession
For those who’ve been paying attention, in the next two years we’re likely to see:
More inflation robbing your money’s value.
Corporatist governments jacking up interest rates until it breaks people and countries.
Corporatist governments raising taxes on the poor while cutting their services.
Nations experiencing debt crises, selling off public infrastructure to corporations, and after the dust settles, banks getting our tax money to buy up all our assets.
But there’s another option that no sociopathic politician or economist will share with the public:
We can tax back that $16 trillion from the rich…
And destroy the parasite anti-economy by taxing unearned income…
And democratize the banks and declare a debt jubilee…
And abolish sales tax and income tax under $100K/year…
And invest trillions in the real economy.
This would allow people like you and me to keep far more of the wealth we create, which would then be spent into the real economy to improve our standard of living while creating jobs, crushing inflation, and avoiding a global crash, recession, or depression.
But of course, this will never happen. Americans and Brits are far too hesitant and conservative, too weak and fearful, too greedy and hyper-individualist, too unthinking and brainwashed and propagandized to realize that “man is born free and yet everywhere he is in chains.”
Only when their economic chains become dangling nooses will they stop supporting corporations and their corporatist parties, but by then, it will be far too late.
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