World Bank is about to declares 2009 as the Second Great Depression.
World Bank: 2009 Will Be “Very Dangerous” Year.
In other economic news, World Bank President Robert Zoellick warned the entire globe will feel the effects of the economic meltdown this year.Robert Zoellick: “Well, I think 2009 is going to be a very dangerous year. And just to give you some reference points, the IMF came out with a new global forecast recently, close to decline of about one percent of growth. We at the Bank will be coming out with ours soon, and it will probably be in the range of one to two percent. But to put that number in a context, you haven’t seen a figure like that globally since World War II, which really means since the Great Depression.”
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