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The Price of a Thanksgiving Pardon | PUPPET REGIME | GZERO Media

The price of a Thanksgiving pardon

US President Joe Biden learns that pardoning turkeys in this economy ain’t easy.

Watch more PUPPET REGIME!

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The Risk of A Global Recession Has Gone Up, Says IMF Chief | GZERO World

The risk of a global recession has gone up, says IMF Chief

Kristina Georgieva, Managing Director of the International Monetary Fund, says the risk of a global recession has gone up due to three major reasons: the big global economies are slowing down, inflation is speeding up, and the world’s global order is fragmenting. She shares her perspective on the economic challenges facing the world in a conversation with Ian Bremmer on GZERO World.

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Odds Of A Global Recession? 50/50, Says David Malpass | GZERO World

Odds of a global recession? 50/50, says David Malpass

Global inflation is forecast to finish 2022 at 8.8%, settling in at around 6.5% in 2023. So is a global recession imminent? David Malpass, President of the World Bank, discusses the global economy with Ian Bremmer on the GZERO World.

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Podcast: European unity vs Putin, energy shortages, & economic pain

Listen: Europe is bracing for a tough winter ahead. An escalating Russia/Ukraine war has mobilized much of Europe to Kyiv’s cause, but it’s also rocked the region, bringing a plethora of economic, political, and social challenges that will last long after the war is over. How will the continent make it out of what looks to be a particularly bleak winter? On the GZERO World podcast, Ian Bremmer discusses all that and more with German diplomat Christoph Heusgen, who served as his country’s Ambassador to the United Nations and is now the Chairman of the Munich Security Conference.

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Logos of FTX and Binance, crypto exchange competitors.

Reuters

What We're Watching: Crypto chaos, China-El Salvador trade, inflation across the Atlantic, Biden-Xi meeting

Is this crypto’s Lehman moment?

The crypto market’s bad run got even worse this week after FTX, a major crypto exchange, imploded. Headed by billionaire crypto-star Sam Bankman-Fried, FTX was revealed to be in a dire financial position earlier this week, and Binance, the largest exchange and an FTX competitor, considered bailing FTX out, but dropped the idea at the eleventh hour when it became clear FTX was insolvent and its customers couldn’t withdraw assets. Federal investigators are now looking at Bankman-Fried to find out whether his company violated financial regulations. Not only did Bankman-Fried lose more than 90% of his $16 billion fortune in mere days, but the news also sent the broader crypto and stock markets into a tailspin. Bankman-Fried, a big Democratic donor, had been making inroads in recent months with lawmakers on Capitol Hill to shape regulation with favorable terms for the crypto industry. But lawmakers and other crypto lobbyists will now want to distance themselves from the crypto king facing serious allegations of financial impropriety.

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A shopper looks at produce in a market in Buenos Aires, Argentina.

Reuters

As inflation nears 100% in Argentina, the political class struggles to respond

Though much of the world is suffering from uncomfortably high inflation as economies adjust to the disruptions brought by the pandemic and the war in Ukraine, some countries are grappling with double- or triple-digit price increases. In Argentina, for example, a rapid acceleration of price gains in recent months has economists predicting inflation will reach 100% this year.

We asked Eurasia Group expert Luciano Sigalov to explain the runaway price increases in the South American country and how political leaders are responding to them (or not).

How did we get here?

This is not Argentina’s first bout of very high inflation. The last was in the late 1980s, when inflation topped 4,000%. After a period of price stability in the 1990s, inflation began to accelerate again in 2005 and then skyrocketed over the summer. Prices rose at an annual rate of 83% in September, one of the highest in the world.

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Will There Be a Global Recession in 2023? | World Bank's David Malpass | GZERO World

What's the chance of a global recession in 2023?

World Bank President David Malpass says the chances of a global recession in 2023 are 50/50, though he is more worried that the middle-income and poorest countries are moving backward in education, health, food insecurity, and capital flows.

These nations, he tells Ian Bremmer on GZERO World, are actually moving backward on all development indicators. And with most capital now being poured into high-income countries, the world is becoming a more unequal place.

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Ian Explains: The State of the Global Economy Is … Not Good | GZERO World

The state of the global economy is … not good

This year, the annual fall meetings of the World Bank and the IMF were all about global economic doom and gloom.

The IMF has cut its global growth prediction for this year by half compared to 2021. And next year will be the worst since COVID and the 2008 financial crisis.

Meanwhile, inflation is still very high — and efforts by rich countries to tame rising prices are going to hurt poor nations.

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