Worldwide Financial Recession 2.0

After stretching the old brain last month by trying to figure out how to survive a worldwide financial recession, the forecast and outlook is out from the World Bank, and it may not just be a recession but a depression:

The world economy is on the brink of a rare global recession, the World Bank said in a forecast released Tuesday, with world trade projected to fall next year for the first time since 1982 and capital flows to developing countries predicted to plunge 50 percent. “We know that the financial crisis now is likely to be the worst since the 1930s,” said Justin Lin, the chief economist of the World Bank, summarizing the projections. [article]

The best line from the article? “We’re almost in an air pocket…” [Thomas Mayer, chief European economist for Deutsche Bank]. Would that be the Doldrums pocket, or an air pocket in an underwater cave a mile under the ocean with secret agents hunting you and all you have are toothpicks to figure out how to escape the mad machinations of Dr. No?