As the world nears the midpoint of what should have been a transformative decade for development, the global economy is set for the weakest half-decade performance in 30 years. Find out more in the World Bank's latest Global Economic Prospects report.

The World Bank predicted on Tuesday that the global economy will slow for a third straight year in 2024.

Struggling with high global interest rates, inflation and a struggling Chinese economy, the World Bank forecasts the global economy will grow by just 2.4 percent this year. That would be down from 2.6 percent growth in 2023, 3 percent in 2022 and 6.2 percent in 2021, though that year was bolstered by COVID pandemic recovery.

The World Bank projected slower growth for the U.S. as well, reducing from 2.5 percent in 2023 to 1.6 percent in 2024.

"Near-term growth will remain weak, leaving many developing countries — especially the poorest — stuck in a trap: with paralyzing levels of debt and tenuous access to food for nearly one out of every three people," World Bank chief economist Indermit Gill said in a statement.

Citing rising global tensions, especially with the ongoing Russia-Ukraine war and the Israel-Hamas war in Gaza, the World Bank predicted slow growth and instability.

"As the world nears the midpoint of what was intended to be a transformative decade for development, the global economy is set to rack up a sorry record by the end of 2024 — the slowest half-decade of GDP growth in 30 years," the organization said in a statement.

While the U.S. economy remains strong and inflation domestically continues to slow, many global economies are in a weaker position. Slowing global trade is projected to hamper growth in much of the world.

That also translates to developing countries, where high interest rates make borrowing funds difficult, therefore slowing investment and growth, the World Bank said. Developing countries are projected to grow by just 3.9 percent, a full percentage point below the 2010s decade average.

"By the end of 2024, people in about one out of every four developing countries and about 40% of low-income countries will still be poorer than they were on the eve of the COVID pandemic in 2019," the World Bank said.

"Without a major course correction, the 2020s will go down as a decade of wasted opportunity," Gill continued.

There is good news, however, with the U.S. economy lifting up poor performance from other nations. Effective Federal Reserve inflation management has driven down the domestic inflation rate to near its 2 percent target, and the global inflation rate is projected to fall from 2023's 5.9 percent to 3.7 percent in 2024 and 3.4 percent in 2025.


The effect of the finite planet seems to be kicking in.

Or how is the average Joe doing?  In America class traitors abound, more common here than apple pie, so how can we know?

Jump to 18 minutes in and the facts start coming out.  Then you might want to start at the beginning. You will learn that 75% of new homeless are first timers in Orlando.  Housing costs have apparently crossed a two Mac-Job limit there.

Or people don't want to work hard enough?

We live in bubbles, oblivious to the misery of others.

If people are working and they are homeless the system is not working.

Last month, the U.S. government released its annual point-in-time count of people experiencing homelessness on a single night this past winter. The latest figures confirm the tragedy we all see in communities across the country: 650,000 people sleeping on the streets or in shelters, the highest figure since the count started in 2007. The government also released data showing that last year, almost 900,000 people fell into homelessness for the first time, a 25 percent increase from the previous year and by far the largest increase ever recorded.

42 mines in comes this analogy:

The appeal of Trump is the appeal of a pole dancer at a strip club.

A partner can nag and nag and nag.  Then a man escapes to a strip club.  The stripper lies and tells him she loves him.  He knows she is lying.  But this is better than the nagging.

Democrats are saying things are great when they are not.  Work harder and get a job.  That amounts to nagging.


Better to be lied to.  At least the stripper will lie to you.  Thus Trump wins again.

Quote from: K-Dog on Jan 23, 2024, 09:42 AMHousing costs have apparently crossed a two Mac-Job limit there.

He should get a 3rd job.  Then he won't need a home.

RE

Quote from: RE on Jan 23, 2024, 11:12 AM

Quote from: K-Dog on Jan 23, 2024, 09:42 AMHousing costs have apparently crossed a two Mac-Job limit there.

He should get a 3rd job.  Then he won't need a home.

RE

Yes, I realized that when I made the post.  With three jobs there is no time to be at home.  But pooping in a plastic bucket and not being able to take a shower has a downside.  Sleeping in a bucket seat sucks, and cars get cold fast.  So I decided not to advocate for homelessness.

Some kind of home is necessary.  Even rabbits can have holes.

And by the three job logic.  If three jobs are not enough.  Five or six should do.

Quote from: K-Dog on Jan 23, 2024, 11:41 AM

Quote from: RE on Jan 23, 2024, 11:12 AM

Quote from: K-Dog on Jan 23, 2024, 09:42 AMHousing costs have apparently crossed a two Mac-Job limit there.

He should get a 3rd job.  Then he won't need a home.

RE

Yes, I realized that when I made the post.  With three jobs there is no time to be at home.  But pooping in a plastic bucket and not being able to take a shower has a downside.  Sleeping in a bucket seat sucks, and cars get cold fast.  So I decided not to advocate for homelessness.

Some kind of home is necessary.  Even rabbits can have holes.

And by the three job logic.  If three jobs are not enough.  Five or six should do.

The trick is to make the 3rd job one you can sleep at.  Night security guard at a truck dropyard for instance.  Night janitorial jobs in office buildings also good.  Always a couch in some executive's office to sleep on.

Home health care aid great for sleeping.  You just gotta check on the gomer every couple of hours to see if the diaper needs to be changed.   If they wake up, the call button wakes you.

Shower is solved by joining a gym.  Don't need to shit in a bucket, all your workplaces have bathrooms.

4 or 5 jobs not possible full time.  Not enough hours in the day.

RE