World faces years of social unrest as economies falter

[dkf]

The international economy is on the brink of a deep new economic crisis that could cost millions of jobs around the globe and trigger mass social unrest, the world's most powerful nations were warned yesterday.

As the leaders of the G20 countries prepare for emergency talks on averting a return to worldwide recession, the United Nations' International Labour Organisation (ILO) issued a grim forecast of the social effects of the continuing economic crisis.

The UN agency warned that it could take until 2016 for global employment to return to the levels of three years ago – and that anger could erupt on the streets of Europe and other continents as a result.

The economic gloom was exacerbated yesterday by Greek Prime Minister George Papandreou's surprise announcement that his country would hold a referendum on the European debt deal that was struck last week. The vote could put the tortuously conceived package in jeopardy.

http://www.independent.co.uk/news/world/politics/world-faces-years-of-social-unrest-as-economies-falter-6255401.html

[mike_c]

1. tax the rich and nationalize the banks-- social unrest problem solved....

It's not rocket science. The causes of the "global economic crisis" are not the least bit obscure, and the solution is to create equitable wealth distribution and regulate the hell out of corporations, especially financial services corporations. If it's product is greed, it should be tied into tiny little knots and prevented from ever doing any harm again. Seize their assets, dammit!

[PSPS]

2. "tortuously conceived package"

The economic gloom was exacerbated yesterday by Greek Prime Minister George Papandreou's surprise announcement that his country would hold a referendum on the European debt deal that was struck last week. The vote could put the tortuously conceived package in jeopardy.

Tortuous only because it could not, in any way, impinge the continuing flow of wealth to the top 1%.

And, OMG!! Now that it might have to actually be voted on by the very people it will impact the most, there's "turmoil in the market" because "it creates uncertainty!" Yes, uncertainty that the game rigging might stop. Oh dear! We can't have that! No, we must have an "agreement" that is imposed by fiat by the banksters! Nothing else will do!