Josh Sigurdson reports on the warning by the World Bank of a global recession after years of denying the obvious.
Previously the World Bank warned of a minimal correction but are now eating their words. They had previously forecast a global growth of 3% but have now changed their prediction to 1.7% which obviously is a massively different scenario.
Two negative quarters of GDP is what defines a recession. The United States saw three negative quarters of GDP and most of the banking establishment still maintains that a recession has not yet arrived. They are changing economic definitions hoping to mitigate the collapse, but it is too little too late and clearly by design as we move into a new economic order… BRICS.
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