Austerity’s Inevitable Outcome, Duuuuh!
Eventually the masses have had enough and things get nasty. Neoliberalism has run it’s course. Trump’s win ushers in a new international protectionist race to the bottom. Herby Hoover all over again. Most of Trump’s so called economic boost will go to the pockets of the wealthy. Things are likely to get much worse. Our safety is now in the hands of an immature and impulsive twitomaniac. Volatility in world markets is likely to increase markedly.
A tentative pickup in the global economy this year is at risk from the political uncertainty unleashed by Brexit and the arrival of Donald Trump in the White House, the World Bank has said.
The Washington-based organisation said 2016 had been the weakest year for the global economy since the deep recession of 2008-09 and expressed concern that protectionist pressures would continue to increase unless the pace of activity picked up.
Announcing the findings of its annual Global Economic Prospects (GEP), the bank said global growth had failed to meet its forecast every year since 2011. A sluggish performance by the US and recessions in large commodity-dependent economies kept expansion in the world economy to 2.3%, down from 2.7% in 2015.