The rout at Christchurch's Hagley Oval was compounded by a batting display that set a record for the worst start to a one-day international innings, with Pakistan's first four wickets falling for just one run.
Pakistan now languish at the bottom of Pool B with two losses from two outings, their performance against the West Indies a step backwards from the 76-run loss to arch-rivals and defending champions India in their tournament opener.
"It's a do or die situation for us and there are no ifs and buts," Misbah said as he tried to look ahead to Pakistan's next game against Zimbabwe, while sifting through the wreckage of Saturday's crushing loss.
After electing to bowl first, Pakistan took two early wickets, including the out-of-form Chris Gayle, and were still in a relatively strong position when the West Indies were 194 for four going into the final 10 overs.
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But they could not contain a late onslaught from Andre Russell, who hit an unbeaten 42 off 17 balls, and Lendl Simmons with 50 off 46 as the West Indies reached 310 for six.
Pakistan, who won the World Cup the last time the tournament was staged in Australia and New Zealand in 1992, immediately collapsed in their run chase.
"We need to pick up ourselves up and come hard in the next game because now we're at the edge," Misbah said.
"We have to forget the last two matches and learn from our mistakes. We can only win if we perform.