U.S. not alone in “crapper” economy
The toilet, or more aptly described “crapper” state of our economy at the present time is certainly not something that lifts many American spirits. For sake of the old adage “misery loves company,” I think I may have found something that might bring some cheer in this time of economic recession depression, or at least make a few people feel better rather than worse. It’s the simple fact that the United States isn’t the only country on this green earth taking a hefty financial dump. In fact, there are 11 other places with a worse economy than ours, according to a U.S. News report.
The International Monetary Fund’s most recent report on world economic conditions predicts a 2.6 percent decline in total U.S. economic output for 2009, and 0.8 percent growth in 2010.
Okay, so those aren’t great numbers. But at least they’re better than what the IMF came up with three months ago, which suggests it could get better in the next three months. (Keep you fingers crossed.)
But I’m keeping you from the good news I promised.
The IMF sees at least 11 other major parts of the world to have a more severe economic state than our own this year, including a good portion of western Europe, Japan, Russia and Mexico.
And here are those numbers (economist prediction of projected economic growth 2009/2010):
China: 7.5/8.5
India: 5.4/6.5
Middle East: 2.0/3.7
Africa: 1.8/4.7
Brazil: -1.3/2.5
World total: -1.4/2.5
Canada: -2.3/1.6
U.S.: -2.6/0.8
France: -3.0/0.4
Spain: -4.0/-0.8
U.K.: -4.2/0.2
European Union: -4.7/-0.1
Central/Eastern Europe: -5.0/1.0
Italy: -5.1/-0.1
Japan: -6.0/1.7
Germany: -6.2/-0.6
Russia: -6.5/1.5
Mexico: -7.3/3.0
Just goes to show that the U.S. is integral in the functions of the economies around the world, which also means that it might be up to the U.S. to pull the world out of its current slump.
Brittany @ July 12, 2009