I am so happy the recession is over! Let's par-tay!

World Bank could run out of money 'within 12 months'   ++ click here ++
By Edmund Conway, Economics Editor in Istanbul
Published: 8:36PM BST 02 Oct 2009
The Bank, whose job it is to support low-income countries, has had to hand out so much cash in the wake of the financial crisis that its resources could run dry within 12 months.

“By the middle of next year we will face serious constraints,” said its president Robert Zoellick, as he launched a major campaign to persuade rich nations to pour more money into the Washington-based institution.

He conceded that such a task was likely to be extremely difficult, given the difficulties facing countries in the wake of the developed world’s biggest recession since the Second World War. However, Mr Zoellick, speaking at the opening of the IMF and World Bank annual meetings in Istanbul, said the Bank needed a capital increase of as much as $11.1bn (£6.9bn) to keep functioning.

Mr Zoellick said: “We recognise that all countries are under budgetary strain and it is not an easy time to be asking for these things”.

He said that a shortfall of cash for the IFC was a cause for particular concern, Mr Zoellick added, “because one of the issues in this recovery is the hand-off from government stimulus programs to private-sector development.”

The Bank has had to lend significantly more cash than the three-year $100bn programme it committed to last year because of the virulence of the financial and economic crisis. The majority of the money has been spent ensuring the survival of the most vulnerable nations.

The World Bank could always print "funny money" like the Federal Reserve!

that's an old saying smart people would just hide the goose and keep milking it so that it can keep laying golden eggs forever.

Shannon,

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Obama has acknowledged that raising taxes on the rich lowers overall revenue.

It's that segment who creates opportunities for other. If they are tightened on the recoveries of taxes, there are many ways they will try to evade taxes.

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The welfare crowd is all about something for nothing, and those who have worked hard/smart, make them look pathetic, and its easier to bust the rich man down to size than follow him up the rungs of the socioeconomic ladder.

Its sad that petty envy has become political philosophy.

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When has it been a bad thing to become rich. Punishing the rich means we all become lazy because whats the point of making money and being punished for it, and hey if wasn't for rich people how many of us would have jobs? I sure wouldn't

ploy (American Heritate Dictionary)
n. An action calculated to frustrate an opponent or gain an advantage indirectly or deviously; a maneuver: "A typical ploy is to feign illness, procure medicine, then sell it on the black market" (Jill Smolowe).

ploy (Online Etymology Dictionary)
1722, "anything with which one amuses oneself," Scottish and northern England dialect, possibly a shortened form of employ or deploy. Popularized in the sense "move or gambit made to gain advantage" by British humorist Stephen Potter (1900-1969).

Ploy (Webster's Revised Unabridged Dictionary) \, v. i. [Prob. abbrev. fr. deploy.] (Mil.) To form a column from a line of troops on some designated subdivision; -- the opposite of deploy. --Wilhelm.

I guess all this talk is just "doublespeak" to me...

http://en.wikipedia.org/wiki/Doublespeak

Obama has acknowledged that raising taxes on the rich lowers overall revenue. But in spite of this he advocates it for reasons of "social justice". Talk about cutting off your nose to spite your face. Here is a guy for whom punishing the rich is more important than achieving prosperity. You have to wonder what the the American people are thinking, as they get ready to make him our next president...