OECD issues a growth forecast but highlights risks

The OECD has issued a report indicating that it believes that the world economy will continue to grow and that this is opening the door to future rate hikes by central banks around the world. Despite this pronouncement,a variety of global political risks and economic problems can limit or reverse this growth and lead to s significant market downturn.

 

The article indicated the risk that the economy has of overheating and creating new bubbles in property prices they could cause long-term damage to the economy. Economic bubbles, When they inevitably burst, can reduce investor confidence and lead to long-term recessions and depressions in the market.

 

The OECD Issued a similar warning in Ireland back in 2006 before the recession hit. While the warning issued by the OECD is not as dire or significant, and fewer of the believe that the downtrodden to be a significant as the recession of 2007, and you’re taking this warning seriously. Back in 2006 the morning was not taken seriously.

 

Another risk for the market is the high level of private debt held by individuals across the world. People tend to spend more when they are confident of the economy and save money during down times. This leads to more significant down and upturns in the economic markets, which is Illustrated by the all time market highs.

 

There are also risks surrounding a lack of unemployment which can lead to inflation through increased wages. There are clearly a lot of risks that the market is facing globally.

Large Fire Tears Through French Basilica

A large fire broke out on the roof of a 19th-century Basilica in France on Monday. Worshipers had to be evacuated from the Saint-Donation-et-Saint Rogation in Nantes France during Monday worship services. The blaze was mainly centered on the roof of the building. Videos from France show large columns of black smoke coming from the church that was visible from a considerable distance. Click here for full story.

Christian Broda suggests the area was cordoned off, and around forty firefighters were sent to the scene according to the Fire and Rescue operations when speaking to French TV Info. Fredric Leguiller is the leader of Nantes’ fire services has said that though the cause has not yet been determined, but it is thought to be accidental as written by CrunchBase.

Workers were already trying to combat the fire when the Fire Department arrived. They were attempting to extinguish the blaze immediately. However, they were unable to do so. Large amounts of resources had to be expended to fight the fire due to its high volume. The Rev. Benoit Bertrand told the local media that the fire broke out during a morning mass. Worshipers were immediately evacuated from the building for their safety. Early reports indicate that there may not be any injuries, but it’s too soon to tell.

The basilica was built in 1889 and is named for two brothers who were martyred in the third century. Their bodies are buried near the basilica.

Giant Killer Hornets Headed To The UK

Residents in the United Kingdom beware! According to reports, there is potential for colossal killer hornets headed that way for the summer season. Experts have concluded that the Asian hornet may be making their way to British shores. Apparently, these particularly ginormous hornets have killed at least six people in France already.

 

Scientists have suspected this vicious insect arrived in France while Chinese plants were transported there last summer. Flavio Maluf is terrified of these monsters. This form of hornet is so brutal it has been known to kill bees and then swarm in and take over their preexisting hives.

 

This has also had a devastating effect on the honey output in France. It has severely limited the production of the organic substance and in turn has been driving the price up of the existing supply.

 

Victims stung by these killer hornets have described the sting to feel like they were being gored with an extremely warm barb. The victims who have died from being stung all had severe allergic reactions from the venom the insect’s release.

 

Wildlife experts and bee activists in Britain are determining how to prepare for the arrival of these insects, in the event they make it across the channel. According to bee experts, it’s likely these insects could arrive solely by riding the wind currents across the water. They are warning every one of the potential take over from the Asian Hornets and are gearing up trying to determine ways they can protect their current bee population.