An IRAQuote.com representative talks about the World Bank Group’s latest comments about where this year is heading.
With inflation on the rise, there’s been a lot of talk about a potential recession taking place this year. And the World Bank believes it’s just about to happen – across the globe.
The Epoch Times recently posted about comments from the group, recently decreasing its global economic growth forecast by around 1.7 percent. This brings the third weakest annual expansion across three decades.
“The global economy has slowed to the extent that it is perilously close to falling into recession—defined as a contraction in annual global per capita income—only three years after emerging from the pandemic-induced recession of 2020,” the group explained.
Worse yet, the possible recession could leave a lasting effect on emerging markets and developing economies. “The risks that we warned of six months ago have materialized and our worst-case scenario is now our baseline scenario,” World Bank economist Ayhan Kose said. “The world’s economy is on a razor’s edge and could easily fall into recession if financial conditions tighten.”
So how much should people be concerned by this? Joining us now is a representative of the website IRAQuote.com, taking a closer look at the economic issues at hand – and what can be done about it.
Q&A:
- We’ve heard talks about a possible recession before, but not on a global scale. How concerning would you say the World Bank’s report is?
- There’s word that if supply disruptions take place, banks could lift policy interest rates sky high, adding to the growing financial stress of consumers and small businesses. Is there any way to get around this, or does it depend on the individual financial institutions?
- Based on report numbers, China could see a growth of 4.3 percent, while the U.S. will only grow 0.5 percent. How are overseas markets (save for Europe, who are struggling) growing so quickly right now?
- If a recession does take place, what will that mean for the current picture with inflation? Gas prices? Could we see lasting effects going into 2024, or will things bounce back to lower rates sooner rather than later?
- Should people take a closer look at investing in IRA’s at the moment, even with what’s happening?
- You recently debuted a new website called IRAQuote.com. Tell us how that works and what services you provide to those that are interested.
- Finally, why are IRA’s so important, especially now in today’s financial climate?
About Brett Winterble…
Brett Winterble is a graduate of Emerson College and American Military University with degrees in Political Communication and Homeland Security/Intelligence Studies.
About Robert Davi…
Robert Davi is an American actor and singer, who’s appeared in over 130 films over the course of his career. These include iconic films such as Die Hard, Licence To Kill (where he portrayed a James Bond villain) and The Goonies, among countless others. He’s also released a number of jazz albums and performed at The Venetian Las Vegas.
Robert previously hosted The Robert Davi Show and The Conversation w/Robert Davi on CRN Digital Talk Radio. Currently, he serves as partner and spokesperson for IRAQuote.com, a website that advises others on the importance of IRAs, as well as gold and silver metals.
CONTACT: Jerry McGlothlin of Special Guests 919-437-0001 jerry@specialguests.com
