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World Bank offers dim outlook for the global economy in face of higher interest rates


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Higher rates globally starting to bite, inflation fight far stickier than originally anticipated and risks to global food and energy markets only increasing. Finally, labor markets remain damaged due to ongoing pandemic.

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Taking down globalisation, state control of tech, restrictions on tech services and the internet, border/customs blocks and high interest/mortgage rates are going to kill the global economy. Everything that powered growth is being erased.

Don't expect anything to get better - much worse is to come. Just be pleased that you are not the UK, where Brexit took Sterling down 25% and drove a stake into the heart of the economy. The UK will undevelop faster than other nations, so you can see what you have got coming by checking out what fails here - currently declining/collapsing healthcare, education, transport, and food availability, with internet censorship on the horizon and a persistent lack of labour due to government blocks. Us first, you next.

Sell anything you don't need, downsize your property, move away from anywhere that has new travel taxes, get yourself some solar panels and insulate your property to protect yourself from energy price hikes and rationing. Most of all, develop your side hustle(s). The more, the merrier. Transport restrictions will wipe out town centre trade, so don't run a shop. Buy goods in bulk and stockpile to avoid shortages and government bans. You can't be self-sufficient out of a back garden, but anything you can grow saves you cash. Buying a small-holding isn't a bad idea.

Those American off-grid survivalists you thought were mad, learn from them. You need to find ways to protect yourself from a collapsing economy, increasingly harsh climate, and the policies of your government.

I have to admit I've never considered the World Bank as an 'anti-poverty agency'. If that is their mandate, they shouldn't be getting any bonuses any time soon.

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GRB,you do not know about American spending habit,this why America economy is booming,it fuel by cheap Chinese good ,that you do not need,but you cannot resist the 1.25 cent price,their nothing the Fed can do to stop this beast

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YrralToday 03:25 am JST

If you don't like this country you can leave any time. Cheap Chinese goods fuel every economy at this point. It will only get the Chinese so far economically as we are finding out.

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