Hans Timmer from the World Bank provides some good information about what the World Bank sees on the economic horizon in this clip from the AP. He sees a pretty grim picture for the developing world in 2009 as well as the recession for the developed world. Hans Timmer says there are two big risks. One is that the future is even dimmer than they are forecasting. The second is that the recovery will be delayed so that the recession will be longer than anything since the second World War. He also says the World Bank expects world energy prices to drop another 30% to 40% next year. Hans Timmer says the U.S. recession will continue well into 2009 but that a rebound in 2010 in possible. Reuters and the New York Times have written articles about Hans Timmer's latest thoughts. The thing every analyst keeps saying is that they are not sure how long this recession will last and exactly how deep it will get.
