 |
 |
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
 |
|||
|
|||
 |
|||
|
|||
 |
|||
|
Crisis heightens danger of global social unrest
- Text size
Emma Thomasson and Stella Dawson
Times of Malta
February 3, 2009
World leaders in Davos, well aware of recent riots and spreading political discontent, vowed to do more to prevent the financial crisis causing deeper economic damage and making global poverty worse.
French Economy Minister Christine Lagarde warned the World Economic Forum of a vicious cycle where the very remedies to the financial turmoil – bank bailouts and stimulus plans – can unleash a backlash that worsens the crisis.
"We’re facing two major risks: One is social unrest and second is protectionism," Mr Lagarde said. The catalysts for these risks are using taxpayer money in rescue plans, and slowing growth, she said.
Economic hardship and rising unemployment have already sparked riots in Greece, Bulgaria, Latvia, Lithuania and Madagascar, and weeks of demonstrations helped bring down the government in Iceland.
Last week, more than a million people took to the streets of French cities to protest, and thousands marched in Russia on Saturday. "Buy Local" campaigns have sprouted in the US, and thousands of British employees have staged walkouts against the use of foreign contract workers.
At Davos on Saturday, hundreds of protesters accused bankers, business leaders and politicians of creating the crisis and sending them the bill.
"It’s people like you and me who have to pay for it with their tax money," said Alex Heideger of the Davos Green Party.
A constant refrain from political leaders at their five-day gathering with business chiefs that wound up on Sunday was that protectionism could worsen and stoke instability.
The mechanism is two-fold. Any withdrawal from global trade ricochets quickly through developing countries whose growth has come from exports. Recent trade data from China, the US and the EU have already shown sharp declines.
This problem is compounded by international banks pulling back from foreign lending to fix problems at home. Taxpayer demands in the US and Britain that banks lend at home, as a price for government rescues, further heighten the risk of capital being withdrawn from emerging economies.
British Prime Minister Gordon Brown said this could lead to deepening protectionism, a reversal of decades of globalisation, and rising poverty.
New data from the Institute of International Finance, which represents major international banks, show global lending is already shrinking. It estimates that private capital flows to emerging markets will plunge to €130 billion this year from almost €785 billion two years ago. Indonesian Trade Minister Mari Elka Pangestu on Saturday said the trend was deeply troubling. "These are real threats that will reverse development," she said.
Indonesia illustrates the problem emerging markets face. The growth of southeast Asia’s largest and most populous economy reduced its poverty level from 40 per cent in 1976 to about 18 per cent today, according to a World Bank Study. But during the economic 1997-98 crisis, poverty rose by 13 percentage points.
In an integrated global economy, shrinking demand in the developed world – most major economies are now in recession – feeds quickly through the supply chain, leading to job losses.
In India for example, Wipro Chairman Azim Premji said in Davos that if growth stalls in the information technology industry, "suddenly some two-and-a-half million in job creation disappears from the market." In China, he said the equivalent is about four million jobs.
- A d v e r t i s e m e n t
The drop in trade and investment could have profound consequences for the global economy where a vicious cycle of credit contraction, bank failure, falling exports, investment drying up, further economic decline and job losses can have violent spill-over effects.
Bank lending to emerging economies may well fall further. The International Monetary Fund estimated that banks will need to raise at least another €393 billion in capital before the financial system is stabilised, on top of the massive recapitalisation already injected.
This in turn may mean more countries face payment crises. Already Hungary, Ukraine, Iceland and Pakistan have tapped the IMF for help, and more IMF lending to stressed economies is expected. Turkey was working vigorously this week at Davos to strike a new IMF standby agreement to stabilise its economy.
Bankers, leaders and policymakers at Davos saw no let-up. "The economic news is going to be bad news for a while," said IMF first deputy managing director John Lipsky. The IMF said it has enough money to cope with expected requests for help but as a safety measure, it is trying to double its war chest to €393 billion within the next six months.
Factbox
France
Hundreds of thousands of strikers marched in French cities on Thursday to demand pay rises and job protection. Some protesters clashed with police, but no major violence was reported.
The one-day strike failed to paralyse the country and support from private sector workers appeared limited. Labour leaders hailed the action, which marked the first time France’s eight union federations had joined forces against the government since President Nicolas Sarkozy took office in 2007.
Russia
Thousands of opposition supporters rallied in Moscow and the far east port of Vladivostok on Saturday in a national day of protests over hardships caused by the financial crisis.
Street rallies were held in almost every major city. The pro-Kremlin United Russia party also drew thousands to rallies in support of government anti-crisis measures.
About 100 protesters were arrested in Vladivostok last month during protests against hikes in second hand car import duties aimed at protecting jobs in the domestic car industry.
Madagascar
More than 100 people were killed in civil unrest in Madagascar last week, according to the US ambassador. Police previously confirmed 44 deaths, with most of those in a store burned during looting when an anti-government protest degenerated into violence.
The mayor of Antananarivo, Andry Rajoelina, galvanised popular frustrations to spearhead demonstrations and strikes against President Marc Ravalomanana’s government. The violence came amid an oil and minerals exploration boom in Madagascar.
Iceland
Parties forming a new coalition for the crisis-hit island decided on Sunday its new prime minister will be former Social Affairs Minister Johanna Sigurdardottir.
Prime Minister Geir Haarde resigned last week after a series of protests, some of which had turned violent. He was the first leader to fall as a direct result of the credit crunch.
The collapse of the country’s fast-expanding banks under a weight of debt forced the country to take a €7.8 billion IMF-led rescue package and sparked widespread anger.
Davos
Hundreds of people rallied in Geneva and Davos on Saturday to protest against the World Economic Forum, saying the elite gathered for its annual meeting are not qualified to fix the world’s problems.
In Geneva, where the WEF has its headquarters, police in riot gear fired teargas and water canon to disperse a crowd.
Britain
Thousands of energy workers staged walkouts on Friday in protest over the use of foreign labour, fearing for their jobs in what is set to be the worst recession in the world’s major economies.
Contractors at a refinery owned by France’s Total began protests on Wednesday after Italian firm IREM won a contract to build a new unit. Unions say it has brought in workers from Italy and Portugal and deprived Britons of work.
Greece
Greek farmers removed roadblocks last week which caused 11 days of travel chaos across the country as they protested against low prices. They kept their blockade on Bulgaria’s border and central Greece.
High youth unemployment was a main driver for rioting in Greece in December, initially sparked by the police shooting of a youth in an Athens neighbourhood. The protests forced a government reshuffle.
Guadeloupe
France sent a minister to the Caribbean island on Sunday for talks aimed at ending a 13-day general strike over pay and prices that has paralysed the French territory.
An alliance of 47 unions and local bodies launched their protest on January 20 over the cost of living. They have drawn up a list of 146 demands including a €200 euro increase in the minimum salary, a freeze on rents and a cut in taxes and food prices. Island authorities have rejected the demands.
Bulgaria
Hundreds of Bulgarians demanded economic and social reforms in the face of a global slowdown in anti-government rallies last month, calling on the Socialist-led government to act or step down.
Earlier last month, hundreds of protesters clashed with police, smashed windows and damaged cars in Sofia when a rally against corruption and slow reforms in the face of the economic crisis turned into a riot.
Latvia
A 10,000-strong protest in Latvia on January 16 descended into a riot, with protesters trying to storm parliament before going on the rampage. Government steps to cut wages, as part of an austerity plan to win international aid, have angered people.
Lithuania
Also on January 16, police fired teargas to disperse demonstrators who pelted parliament with stones in protest at government cuts in social spending to offset an economic slowdown. Police said 80 people were detained and 20 injured.
Prime Minister Andrius Kubilius said the violence would not stop an austerity plan launched after a slide in output and revenues.
-
- Social bookmarks
- Email this article
-
- Print this page
- Share on Twitter
February 3rd, 2009 at 11:20 am
all you homophobic, anti-semetic, christian kooks, and conspiracy nuts need to calm down…what’s going on with the economy is just a business cycle…the world is not going to end…you wackos!!
ewkeane Reply:
February 3rd, 2009 at 11:34 am
just what exactly is a ‘business cycle’?
jin Reply:
February 3rd, 2009 at 4:10 pm
Business cycle? It’s like a really bad bout of PMS but bloodier. Has anyone on here gotten the following e-mail? Does this really come from AJ site? I’ve never given my address. It reads:
vet4life63 Reply:
February 3rd, 2009 at 11:35 am
Business cycle my arse! You call the fleecing of tax payers a “business cycle”? Are you one of the mosquitos feeding on the taxpayers blood? This IS NOT A BUSINESS CYCLE. It has been repeatedly said over and over that the situation today is UNHEARD OF, even dating back to the Great Depression. This is a animal of a diffrent stripe, not a “cycle”. Perhaps it will not bring the end of the world in your view, but perhaps that depends on what side of this you get stuck on, as to if it is the end of the world. Ask the person barely making it, paying taxes, seeing those taxes squandered to rich banksters, and then being laid off, and losing everything they have worked so hard for , for so many years if it feels like the end of the world to them? Ask someone who is starving why the fatcats play a game, if its the end of the world to that person. The world may not “blow up” but if you are holding the shiiity end of the stick, as most of us are, there isn’t much diffrence now is there? Darn “Business cycles” anyway!
easter bunny Reply:
February 3rd, 2009 at 12:08 pm
HILDER is a trouble-making internet troll. He’s not in control of his own mind LOL!
Michelle Reply:
February 3rd, 2009 at 1:30 pm
All of you conspiracy guys are one or more of the following: insecure christian, mentally retarded, creationist, wacko, stupid, moron, live-in-a-trailer.
vet4life63 Reply:
February 3rd, 2009 at 1:54 pm
Michelle, What are you? Why are you on this site then if you feel none of this has no merit, and things are going to be just fine? There are those that get it, and those that would rather stay asleep. Which are you?
or to put it a better way as Mark Twain once said:
In the beginning of a change, the patriot is a scarce man, and brave, and hated and scorned. When his cause succeeds, the timid join him, for then it costs nothing to be a patriot.
- Mark Twain, Notebook, 1935
DErAngeD Reply:
February 4th, 2009 at 7:15 am
RIGHT ON!
1 TRUTH Reply:
February 3rd, 2009 at 5:46 pm
MICHELLE!!! I HAD NO IDEA YOU WERE GOD!!!!!
FOR YOU WOULD HAVE TO BE GOD… TO HAVE THE INFINITE KNOWLEDGE OF THE UNIVERSE… TO BE ABLE TO SAY WHAT EXIST & WHAT DOES NOT EXIST!!!
YOU… ALONG WITH SCIENTIST HAVE ONLY BEGUN TO SCRATCH THE SURFACE OF THE KNOWLEDGE OF THIS PLANET ALONE.
& YOU FEEL SO INCLINED TO TELL US HOW IT IS!!!
YOU’RE PATHETIC!!!
frog turns into a person quickly: F-A-I-R-Y T-A-L-E
frog turns into a person over zillions & zillions of years: E-V-I-L-U-T-I-O-N
http://www.fool4given.com/books/301proofs.pdf
http://www.discovery.org/artic.....Fakest.pdf
Force Winds Reply:
February 3rd, 2009 at 9:09 pm
Hey Michelle; Kiss my ass. You’re probaly one of these people who got your little degree and has a soft cushy job making decent salary, watchs soap operas and think you got it totally goin on. Boy, are you in for a rude awakening when the shit hits the fan. Good luck.
jason Reply:
February 3rd, 2009 at 12:46 pm
MR HIDLER the foot ive got on your neck and the thumb ive got pushed up to the hilt in your eye socket are not violent jestures just a angry cycle you FUCKING COCK pray we never meet when this kicks off mucka
The Free Celt Reply:
February 3rd, 2009 at 2:04 pm
Hilder and Michelle. What’s happening around the world now is the fundemental forces of economics unravelling the 300 year old pyramid scheme at a lightening speed. Mainstream media are not going to say “we are f*cked”, now are they?
Thanks to the internet, real economists and real free thinkers have an opportunity to convey the situation and make accurate predictions. I have been following these people’s predictions and its all coming home to roost. What they predict for the future is scary. So I’d advise to stop patronising non conformist free thinkers and learn survival techniques.
DErAngeD Reply:
February 4th, 2009 at 8:24 am
i think when people come together and stop this mess, having communicated via the web, the elites can thank al gore, heh heh
February 3rd, 2009 at 11:23 am
So when can we add America to that list of countries?
Get ready, everybody! It’s coming soon to a town near you…
February 3rd, 2009 at 11:43 am
Business cycle my arse. This is NOT a business cycle. Hilder, you are the nut..open your eyes. Perhaps you are amonf the mosquitos sucking the life blood from the taxpayers, so to YOU it isn’t the end of the world. To those that have worked and toiled all their lifes to survive, and then lose it all, because of the Banksters, leeching from us, it seems worth fighting for. Are you one of the “if its not happening to me, then its not happening” people?
BTW there were 3 other posts on here just 5 min ago, and they are now gone. Whats up with that?
February 3rd, 2009 at 11:44 am
Business cycle my arse. This is NOT a business cycle. Hilder, you are the nut..open your eyes. Perhaps you are amonf the mosquitos sucking the life blood from the taxpayers, so to YOU it isn’t the end of the world. To those that have worked and toiled all their lifes to survive, and then lose it all, because of the Banksters, leeching from us, it seems worth fighting for. Are you one of the “if its not happening to me, then its not happening” people?
BTW there were 3 other posts on here just 5 min ago, and they are now gone. Whats up with that?
February 3rd, 2009 at 11:46 am
Ok now the post that were there and then were gone are back. I hit “refresh” on my browser, they were gone for 5 min, then came back. Must be the “new System” Alex is using?
February 3rd, 2009 at 11:53 am
Hilder thinks he is smart. So do most americans who just cannot see it. How long before people understand what is going on? It is not that hard…When I came in this country ,about 13 years ago, my first reaction was: “Americans are pretty stupid” but then I said, maybe I do not understand them well enough. Thirteen years later, I go back to the same conclusion. One more thing, people are good liars in this country, and this part of the population represents the “smart” one.
February 3rd, 2009 at 12:54 pm
Well, I have to admit, that this whole thing is heading towards the finish line. The question is where in the running will you be? Whatever the outcome, whatever may come, we should Love Thy Neighbor, and help each other out. For if we cannot count on our neighbors, we are lost, if we do not stand side by side, and help each other, when the “sh**” hits the fan, a people united for Liberty will not prevail. We should not be afraid, for out of a Tribulation comes a stronger person. No one should give up! Stand your ground and be brave for your family, for your neighbor, for humanity.
February 3rd, 2009 at 1:26 pm
Coming to the streets and neighborhoods near you.
February 3rd, 2009 at 1:38 pm
Hey HILDER i suppose Henry friggin Kissingers just a conspiracy nut for going on cnbc at wall street and announcing that ” for the first time in history a new world order can be created and it isnt just a crises its a great opportunity” And that Barcack obamas reponsibilty will be to set up a new world order.I suppose i dreamt as well that Kisinger wrote an article for the newspapers around the world saying That ” THEY WILL HAVE TO ACCEPT A NEW WORLD ORDER OR RETREAT TO CHAOS”.
yOU DONT UNDERSTAND ANYTHING go back and munch on ur burgers and watch your tv channels cause thats all thats real 2 you you braindead retard!
February 3rd, 2009 at 2:18 pm
Alex was just asking about contacting WOODY HARRELSON. He put up a new YOUTUBE just yesterday. His new comic anti new world order character is named CHARLIE FROST. So Alex, check out Charlie Frost on youtube and you can interface with his new website too.
Kisses,
Ethel
February 3rd, 2009 at 4:23 pm
“We’re facing two major risks: One is social unrest and second is protectionism…This problem is compounded by international banks pulling back from foreign lending to fix problems at home.”
There is no logical progression from people thriving to people rioting.
February 3rd, 2009 at 6:09 pm
Hey HILDER. Stop drinkin the tap water, its obvious that your suffering from the negative side effects of water flouridation!!!
patriot is a monkey Reply:
February 3rd, 2009 at 9:41 pm
“patriot” Hilder says it all, nothing on this site can be taken seriously because of all the demonizing of the Jewish people by the posters, who are egged on by alex himself. What a total NWO shill!
Listen to Stanley Monteith if you want some real information.
February 4th, 2009 at 10:32 am
Protectionism is good for the local market – and that’s why the NWO elite hate it!
They can’t rob us if your markets are closed!
The third world has been plundered by the NWO under the guise of opening markets.
All propaganda!
February 4th, 2009 at 11:23 am
It’s coming to the U.S. VERY SOON! I’m URGING EVERY CHRISTIAN who visits the “AJ” sites to read CHUCK BALDWINS’ article dated 2/03/08. It can be found @ http://www.newswithviews.com. It’s time ALL of us start waking up! We CHRISTIANS have a DUTY, CALLING, RESPONSIBILITY,& obligation TO COMBAT ALL EVIL OF ALL TYPES & to stop HIDING behind ROMANS 13:1 & “this is all happening because it’s Gods’ plan! Passive Christianity should be a thing of the past! Onward CHRISTIAN SOLDIER!! What if Christians of colonial America would have “layed down’ & NOT dealt with the tyranny & oppression that they were threatened with?ROMANS 12:1 “we are to give our bodies as a”living sacrifice” & it is”GODS PREROGATIVE”to use our sacrifice…AS He SEES FIT! We may lose the BATTLE but we’ve ALREADY WON THE WAR!!!! Let’s always remember Who we serve & ALL OF HIS PROMISES
February 4th, 2009 at 12:01 pm
Sorry Baldwins’ article should be dated2-03-09 NOT 2-03-08
February 4th, 2009 at 9:57 pm
Sure were here, so you are able to do exactly WHAT …!
February 5th, 2009 at 12:30 am
I will probably be censored again for saying this but, What good would a wheel barrel full of Gold, and Siver do for you, if their is nothing to buy with it !
Get real people, your blind if you think gold will buy a loaf of bread, when their will soon be none to buy!
You would be better off buying Vegetable Seeds and, Guns & Ammo to protect your crops.
This is going to get way uglier than Alex can even dream about.
Alex, is no more prepared for what is to come than any of us are.
In the very near future, I would not be surprised if the Great Alex himself, is putting his head between his knees, and kissing his ass goodbye.
I can just see, His wheel barrel full of gold, he bought to feed his family, dumped in the streets, and kicked around like worthless dirt, as he begs for a sip of rat soup.
Ahhh, don’t you just Love the smell of baked politican’s in the morning.
February 5th, 2009 at 7:18 pm
A Rose By Any Other Name Would Smell As Sweet.
What’s In A Name?
What’s up with yours?
please post your k k k charter web site so we can all see what you are up to. Thanks so much.
February 5th, 2009 at 10:34 pm
Listen Everyone, if you live in a Metropolitan, one of the larger cities in the U. S., then you are already in an interment camp. You could wake up tomorrow morning, and the Police/Military can have you cut off from open land and small towns. Look around, it would not take much to isolate NYC, Chicago, etc. Over 80% of the population lives in the Big Cities. That leaves only 20% or less, mostly rednecks, like myself. But at least We are Armed. And We have gardens and livestock. We’ll share, but you need to get OUT of those Cities soon.
February 12th, 2009 at 10:23 am
Im gonna have a field day when this place starts rioting. Americans are stupid, and Im American hahaha. Seriously, everyone, sit back and look at the world right now. Dont look at it in a bad way, look at it and fucking laugh, because this is pathetic. Greed and power have consumed all of us, and this idiocracy we’re living in is blind to the truth, and is far from prepared. The people in my city will find out the hard way, and they wont fucking know what hit them. They are retarded. I cant wait to watch the people riot and try and consume every resource possible out of yet again.. GREED. Im gonna be the one patrolling my streets protecting my city, and forming a system that works. Not by myself, I have a bunch of people ready to stop the revolts, Military personell as well as Cops. And if you think that they are going to throw me into some FEMA camp, I can assure you that they are trustworthy enough.
February 12th, 2009 at 8:45 pm
http://www.youtube.com/watch?v=CG3Z8bYlvms