- 2012 is the critical year. It is the year, events, consequences, plans … will come to a head. We are in the period very much like the 1930s just before the start of WW2 !
Global financial crisis threatens to drag the world back to the 1930s!
By Hugo Duncan, http://www.dailymail.co.uk/
– Claims ‘chronic’ state of government finances is partly to blame
– Warns failure to tackle youth unemployment and ageing population will make world ‘a place where life is full of hardship
The financial crisis threatens to drag the world back to the dark days of the 1930s and wipe out the gains of globalisation, a hard-hitting report said tonight. In its annual assessment of the global economy, the World Economic Forum warned of a rising tide of protectionism, nationalism and protests as seen during the Great Depression. It blamed the ‘chronic’ state of government finances and the widening gap between the rich and poor as the world lurches from one crisis to another.
The WEF, which holds its yearly meeting for leading politicians, economists, businessmen and academics in the Swiss ski resort of Davos later this month, said the ‘seeds of dystopia’ have been sown. It warned that without action to tackle youth unemployment and support an ageing population the world would become ‘a place where life is full of hardship and devoid of hope’.
The survey of 469 global experts warned the world was ‘vulnerable’ to fresh economic shocks, major social unrest, and food and water crises. Lee Howell, managing director of the WEF, said: ‘For the first time in generations, many people no longer believe that their children will grow up to enjoy a higher standard of living than theirs. ‘This new malaise is particularly acute in the industrialised countries that historically have been a source of great confidence and bold ideas.’
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