Storm Clouds Grow Over World Capitalist Economy

Usually the World Bank and the IMF can be counted on to spin Pollyanna good cheer when commenting on the world economy. But the head of the IMF has predicted that in 2023 one third of the countries in the world would be in recession. As for 2022, the Financial Times reported that the S&P was down 19% while the Nasdaq fell 33%. US stocks lost $12 trillion. Apple and Microsoft each lost 30%, Facebook 64% and Tesla lost $900 billion.

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