World Bank: "ZOMG! Wessa all gonna diiiiiiiiie!"

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World Bank: "ZOMG! Wessa all gonna diiiiiiiiie!"

Post by Cybrludite » Thu Mar 12, 2009 6:06 am

Yeah, I'm not seeing this as being very helpful...
THE World Bank has broken a taboo, becoming the first official organisation to predict the global economy will shrink during 2009, to collapse for the first time in more than 60 years.

A previous forecast from the International Monetary Fund predicted global growth of just 0.5per cent this year, something it described as a recession but "still positive".

The new World Bank assessment, prepared for next week's meeting of finance ministers and treasurers from the world's 20 largest economies, was not specific about the extent of the collapse other than to say that global economic activity would shrink "for the first time since World War II, with growth at least 5 percentage points below potential".
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Re: World Bank: "ZOMG! Wessa all gonna diiiiiiiiie!"

Post by frath0 » Thu Mar 12, 2009 7:00 am

Guns? Check.

Ammo? Never enough, but BIG check.

Food? Hmmm, Mrs. h0's boobs count for the infant, but only enough for a week to 10 days for the rest of us. Damn - NEED TRIP TO SAM'S.


OK, time to wait it out. I guess a tiller and seedpacks are next on the list.
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Re: World Bank: "ZOMG! Wessa all gonna diiiiiiiiie!"

Post by Shogun » Thu Mar 12, 2009 7:21 am

http://www.koamart.com/shop/1-ramen_bags.asp" onclick="window.open(this.href);return false;

Just buy them by the case.

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Re: World Bank: "ZOMG! Wessa all gonna diiiiiiiiie!"

Post by yale » Thu Mar 12, 2009 9:43 am

Shogun wrote:http://www.koamart.com/shop/1-ramen_bags.asp

Just buy them by the case.

You may be jokig but I just bought a bunch of Ramen. See post #80 here
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Re: World Bank: "ZOMG! Wessa all gonna diiiiiiiiie!"

Post by raptor » Thu Mar 12, 2009 10:48 am

Thanks for the article. Here is a link to the whole article. I know the title was in jest but I though I would comment on this article.

http://business.theage.com.au/business/ ... -8taj.html" onclick="window.open(this.href);return false;

http://www.bloomberg.com/apps/news?pid= ... g&refer=us" onclick="window.open(this.href);return false;

I would point out that this report was put out on March 9,2009 and the report does not say that trade will collapse but rather that worldwide growth will be negative. I would also point out that if you are surprised by this conclusion you should not be since unemployment worldwide is up and demand for all raw materials is down. In addition this report came out after the Fed released its assessment of the US economy on February 18, 2009 and concluded we will likely have negative GDP of 0.5 percent to 1.3 percent.

http://www.bloomberg.com/apps/news?pid= ... refer=home" onclick="window.open(this.href);return false;

Don't get me wrong the economy worldwide sucks and will get worse. However, negative GDP is not an economic collapse. It means less business, lower profits and more unemployment. That does not mean the refineries, manufacturing and shipping stops. It means fewer trips for cargo ships. barges, trains and trucks. It means less mining and lower consumption of raw materials. However stuff will still be made and business will still be conducted...at least for now.

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Re: World Bank: "ZOMG! Wessa all gonna diiiiiiiiie!"

Post by andygates » Thu Mar 12, 2009 12:48 pm

raptor wrote:negative GDP is not an economic collapse.
Quoted for truth.
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Re: World Bank: "ZOMG! Wessa all gonna diiiiiiiiie!"

Post by Succoros » Thu Mar 12, 2009 1:32 pm

andygates wrote:
raptor wrote:negative GDP is not an economic collapse.
Quoted for truth.
Quiet you, listen to your 100% trustworthy media, its all going to hell, watch our special programs while we add to the problem and do nothing useful :roll: . One of the reasons I like this place, people tend to actually look at something for more than second before forming an opinion.

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Re: World Bank: "ZOMG! Wessa all gonna diiiiiiiiie!"

Post by airballrad » Thu Mar 12, 2009 1:45 pm

I'm confused... did you mean to say:
investsmart.com.au wrote: Quiet you, listen to your 100% trustworthy media, its all going to hell, watch our special programs while we add to the problem and do nothing useful.
?

Or are you bashing people posting in this thread?

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Re: World Bank: "ZOMG! Wessa all gonna diiiiiiiiie!"

Post by Succoros » Thu Mar 12, 2009 1:52 pm

I meant for it to come across negatively on the sentionalism thats running rampant at the moment.
I was agreeing with the above poster, a decrease in GDP is not a collapse. Suppose that old internet rule of sarcasm does not translate well is the reason for your misunderstanding of what I wrote, should've made it clearer on my part.

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Re: World Bank: "ZOMG! Wessa all gonna diiiiiiiiie!"

Post by andygates » Thu Mar 12, 2009 2:22 pm

That's OK, the telly's telling me the old adage:

When in danger or in doubt
Run in circles scream and shout. :)

...or not. The problem is that the capitalist system has to grow or it's in trouble: it basically borrows from the future for present prosperity, and has to pay that back with interest when the future gets here. It's been that way since it was invented, back in colonial spice-n-tea trading times. So a GDP shrinkage is important -- it underscores that the problem is global -- but it ain't the cashpocalypse.
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Re: World Bank: "ZOMG! Wessa all gonna diiiiiiiiie!"

Post by raptor » Thu Mar 12, 2009 2:40 pm

andygates wrote: The problem is that the capitalist system has to grow or it's in trouble: it basically borrows from the future for present prosperity, and has to pay that back with interest when the future gets here. It's been that way since it was invented, back in colonial spice-n-tea trading times. So a GDP shrinkage is important -- it underscores that the problem is global -- but it ain't the cashpocalypse.
Excellent summation of capitalism. BTW cyberludite was clearly posting this with a tongue in cheek ahead line. I posted my tome just in case the humor was lost on someone.

BTW I like the term cashpocalypse, I intend to plagiarize it. :D

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Re: World Bank: "ZOMG! Wessa all gonna diiiiiiiiie!"

Post by Trioxin » Thu Mar 12, 2009 2:47 pm

frath0 wrote:Guns? Check.

Ammo? Never enough, but BIG check.

Food? Hmmm, Mrs. h0's boobs count for the infant, but only enough for a week to 10 days for the rest of us. Damn - NEED TRIP TO SAM'S.


OK, time to wait it out. I guess a tiller and seedpacks are next on the list.
I'll swap you 100 lbs of beans for 10 minutes with Mrs h0's boobs. :twisted:
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Re: World Bank: "ZOMG! Wessa all gonna diiiiiiiiie!"

Post by airballrad » Thu Mar 12, 2009 3:32 pm

Trioxin wrote:
frath0 wrote:Food? Hmmm, Mrs. h0's boobs count for the infant, but only enough for a week to 10 days for the rest of us.
I'll swap you 100 lbs of beans for 10 minutes with Mrs h0's boobs. :twisted:
Damn... I knew selling breastmilk on the internet was getting popular, but I ever knew the prices were so high! I mean; how much breastmilk can you pump out in 10 minutes? That's a lot of beans! This stuff must be better than gold!
*note to self: convince wife to begin lactating.* :lol:

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Re: World Bank: "ZOMG! Wessa all gonna diiiiiiiiie!"

Post by frath0 » Thu Mar 12, 2009 3:35 pm

Ah, but there's the (literal) rub - don't expect to get any more fun out of them thingees! I was always torn between Mrs. h0's ghetto booty or bodacious boobies... now, at least the ghetto booty doesn't squirt (at me, at least). Hmmm, 100#'s of beans for 10 minutes? I'm sure as shit game, but you'll have to fight the infant daughter over them - she's quite territorial.
**Actual Conversation from the h0 h0useh0ld:**
Boy: "Daddy, where's next Gombie?!" (charges plastic AR-15)
Daddy: "Oh no buddy, he's coming for your baby sister!"
Boy: "NO WAY GOMBIE, I WUV MY SISSY!!!" (ratatatata with plastic AR-15)

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Re: World Bank: "ZOMG! Wessa all gonna diiiiiiiiie!"

Post by Valarius » Thu Mar 12, 2009 6:59 pm

BTW I like the term cashpocalypse, I intend to plagiarize it.
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Re: World Bank: "ZOMG! Wessa all gonna diiiiiiiiie!"

Post by naegling62 » Thu Mar 12, 2009 7:06 pm

andygates wrote: When in danger or in doubt
Run in circles scream and shout. :)
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Re: World Bank: "ZOMG! Wessa all gonna diiiiiiiiie!"

Post by man_of_all_time » Fri Mar 13, 2009 12:59 pm

IMF chief calls downturn ‘Great Recession’

http://www.msnbc.msn.com/id/29617553/" onclick="window.open(this.href);return false;

"PARIS - The global economy will shrink this year as the world enters “a Great Recession,” the head of the International Monetary Fund said Tuesday.

Speaking in a taped interview with French television channel France 24, Dominique Strauss-Kahn said economic data has worsened since January, when the IMF forecast global growth in gross domestic product of 0.5 percent this year.

“Since then the news hasn’t been good,” Strauss-Kahn said. “I think that we can now say that we’ve entered a Great Recession.”

Wasn't sure which thread this was most appropriate to add too, so I picked this one.

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Re: World Bank: "ZOMG! Wessa all gonna diiiiiiiiie!"

Post by frath0 » Fri Mar 13, 2009 1:25 pm

Jesus, talk about a lack of friggin' imagination. :roll: z0mg oh n0es! Not the "Great Recession!" "Grandpa, what was it like living in THE GREAT RECESSION?!"

Please dude, that's lame. Too scared to EVER call something a "Depression" again, they've basically made downturns politically correct (and I HATE when they do that) by calling them "recessions." Now, not to compete with The Big One, while still calling it as such, they rob from both names. Weak.

That being said, how are everyone's preps coming? My cash reserves are better than before (nowhere near even acceptable, but better than the negative it was!), ammo is in great shape, weapons.... well, BIG CHECK there. We now have enough that everyone in the house has a long-gun and sidearm, and the includes the 3 year old and 3 month old, who can probably BOTH shoot as well as Mrs. h0. :o
**Actual Conversation from the h0 h0useh0ld:**
Boy: "Daddy, where's next Gombie?!" (charges plastic AR-15)
Daddy: "Oh no buddy, he's coming for your baby sister!"
Boy: "NO WAY GOMBIE, I WUV MY SISSY!!!" (ratatatata with plastic AR-15)

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Re: World Bank: "ZOMG! Wessa all gonna diiiiiiiiie!"

Post by DFWMTX » Fri Mar 13, 2009 3:35 pm

My solution* for this economic downturn would be to duct-tape shut the mouths of every politician who "economics expert" who has ever been on TV or wants to be on TV. I swear, every time these fools open their mouths, the stock market goes down. If they'd shut up for a while I think some confidence would come back into the market.














*Please note I am not an economics expert, nor have I played one on TV, or spent a night at a LaQuinta.
It can always get worse.

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