[Peace-discuss] Populist and protectionist policies, oh my!

[C. G. Estabrook]

[Our rulers seem actually quite worried about "social crisis" -- what we used to 
call revolution.  Short of that, they're very much concerned with "populist and 
protectionist policies" -- i.e., economic policies that actually aid the 
majority (like giving them money) instead of the truly wealthy in the US, a 
fraction of 1%  (and, slightly, the 20% who so want to be like them).  --CGE]


	World Bank warns of looming 'social crisis'
	Mon, 25 May 2009 12:06:54 GMT

World Bank President Robert Zoellick warns that the worsening global economic 
meltdown and rising unemployment could lead to a 'social crisis'.

"If we don't take measures there is a risk of a great human and social crisis, 
with major political implications," Robert Zoellick said in an interview with 
Spanish newspaper El Pais.

He warned that the recovery of the global economy will be slow as an extra 53 
million people are on the verge of extreme poverty.

The comment came as crisis-hit eastern European states faces the 'tricky 
situation' of exacerbating economies and social protests.

'Populist and protectionist policies' are another threat to the economy in the 
face of 'low or negative growth', he added.

"But economists and industrialists are conscious that the recovery will be slow 
coming and weaker than expected," he warned.

Although the US financial system is at danger, Latin America has remained 
reasonably stable, Zoellick said.

"The USA has taken steps in the right direction, but there are still banks with 
serious difficulties related to consumer finance, credit cards and real estate… 
the US depends more than Europe on the mortgage securitization market, and that 
market has yet to recover," he said.

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