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Joblessness, rising prices could spark war within

February 6, 2011

From MSN

 By Kevin Lim and Saeed Azhar-Reuters

The world economy is beset by problems such as high unemployment and rising prices which could fuel trade protectionism and even lead to war within nations, the head of the International Monetary Fund warned on Tuesday.

Rising food and fuel prices in recent months have already hit poorer countries and are one of the factors behind massive anti-government protests in Egypt and in Tunisia, whose president was ousted last month.

“As tensions between countries increase, we could see rising protectionism — of trade and of finance. And as tensions within countries increase, we could see rising social and political instability within nations – even war,” Dominique Strauss-Kahn said in a speech in Singapore.

Strauss-Kahn noted two “dangerous” imbalances that he said could sow the seeds of the next crisis.

The first was the unbalanced recovery across countries, as emerging nations grow much faster than developed economies and possibly overheat. The second was the social strains within countries with high unemployment and widening income gaps.

From MSN

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One Comment leave one →
  1. Bob Withey permalink
    February 10, 2011 7:34 am

    Unemployment is affecting every nation. In my Country of Canada the pain is being felt all over especially at the bottom rung of society. Food banks are now not able to feed all of the people that are coming for help and as a hard-working friend of mine in Toronto put it he “can’t even find a dishwashing job” .

    What are people going to do? In the middle of the freezing cold of winter..no food..no money..most people did not see any of this coming. We in the industrialized and developed wealthy nations have had it very good for generations and are accustomed to benefits that help us to sustain in difficult economic times. Now that there is too much demand on charitable organizations that help the poor, what is going to happen?

    Without work, without sufficient food to sustain and without a hope for the future things are going to get bad. Crime will increase and civil unrest will become more pronounced.
    People now need to start working together to help one another, because the traditional system off applying for a handout is not sufficient to help everyone.

    Everyone needs to read The Great Waves of Change by Marshall Vian Summers

    Bob Withey

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