The International Monetary Fund lowered its economic forecast again for 2023, saying countries making up one-third of the world’s economy will have at least two-quarters of contraction this year or next as Russia’s invasion of Ukraine disrupts global markets.
I think it’s the sanctions and the destruction of the fossil fuel industry that is the problem. Much of this is manufactured with bad policies of the West. The globalist IMF won’t admit that.
Kristalina Georgieva, managing director of the IMF, told an audience at Georgetown University on Thursday that “things are more likely to get worse before it gets better.” She sees a “darkening” over the global economy.
She said Moscow’s invasion of Ukraine in February dramatically changed the IMF’s outlook.
“The risks of recession are rising,” she said. We’re looking at $4 to $6 trillion lost. Even those countries not in recession will feel like they are because incomes can’t keep up.
She urges policy action to avoid “dangerous ‘new normal’,” reports AFP News Agency. We don’t know what policy action she wants, but we’d suggest unleashing fossil fuels and changing the sanctions to become less damaging to the West. Also, someone should shut Zelensky up. His constantly calling for World War III is not helpful.
THE DARKENING
“The global economy is at increasing risk of recession and could lose $4 trillion in output through 2026, a ‘massive setback’ roughly equivalent to the size of Germany’s economy, the IMF’s top official said.” Steve Milloy says, “climate idiocy is expensive” and “darkening.”
“Emissions have doubled since climate idiocy began. More are on the way with no end in sight. Wind and solar have been exposed as failed technologies, and we are possibly heading into a global recession. Yet the IMF imagines emissions cut 25% by 2030,” Milloy added.
They keep pushing failed policies. It’s the definition of insanity.
The U.S. economy is “darkening.” Once Biden is done emptying out the emergency oil reserves, fuel and prices will skyrocket. The economy has contracted for two straight quarters. We are all being told that is an informal definition of a recession since hiring is still strong. You can believe it is only an informal definition if you want.
The Biden administration and congressional Democrats are saddled with voter anger over inflation, which is running near a four-decade high.
That’s called a recession.
IMF warns global recession in 2023; projects world economic growth lower by $4 trillion through 2026 | https://t.co/c5gBBzaAA6
.#IMF #Economy #Recession pic.twitter.com/PSVkh6kRsk— Economic Times (@EconomicTimes) October 6, 2022
You can comment on the article after the ads and subscribe to the Daily Newsletter here if you would like a quick view of the articles of the day and any late news:
The War on Fossil Fuels is at the heart of the World’s Economic Problems and will lead to a Massive Financial Collapse.
The problem with Solar and Wind is that that they are not scale-able and reliable enough to power modern Manufacturing Economies. Green Energy still needs backup and in today’s world that is Fossil Fueled Energy Production. I am making a big investment in Solar, it will provide over 80% of my energy, but with both Grid and Generator Backup. I’m able to do this because I have enough land to put up a sizable solar array. The reality is you need an acre of land with a Clear Southern Horizon for every 1000 Square Foot of Home. Solar in a Big Blue City is really a joke! The average Electricity use in the US is stated as 30 KW/h per day, but in reality an All Electric Home will use over 60 KW/h per day, in many cases over 90KW/h on a hot day in South Florida. When I was in Florida, many of the installed systems were grossly undersized and didn’t provide enough power to go off grid. I also have an All Electric Town House in a tropical climate. During the Summer Months Electricity use averages 85 KW/h a day. To go solar I would need at least 25KW of panels, or about 75 panels which would be about 1340 square feet of panels. I have less than 450 sqft available on the roof of that Town House and it doesn’t even point South. This is the typical problem in a city. Solar is barely practical here in Rural Mississippi since electricity cost are low.
Run the numbers and it’s clear why Solar and Wind are a Joke for 98% of America to go all Solar! It can be little more practical if you have Gas Heat and Appliances. I could go 100%, but to get that last 20%, it becomes a lot more costly. If Electricity was say 50 cents a Kilowatt Hour it becomes practical. If you finance a Solar System and have it “Professionally” installed, the ROI will be 20+ years or about the life of the system and you will have no return on investment. To be practical, you need to have the cash and be able to install it yourself at ground level. Solar is more practical in say Los Angeles because electricity cost 25 cents a KW/h already!
The NWO globalist monsters are causing the world’s financial crisis, then pretending to be our friends by warning us of the downturn, in the 3rd person.
But, they caused this. It’s like an arsonist warning of the fire they set.