The UN Warns Of Another Global Economic Crisis

Dr. Michael LaitmanReport (World Economic Situation and Prospects Monthly BriefingUN Department of Economic and Social Affairs (DESA)): “The world economy is teetering on the brink of another major downturn. Output growth already slowed considerably to an estimated 2.8 per cent in 2011. Based on relatively optimistic baseline assumptions, the United Nations foresees world gross product (WGP) growth of 2.6 per cent for 2012 and 3.2 per cent for 2013. If the European sovereign debt crisis were to spin out of control and the weaknesses in the United States economy interact to create a downward spiral, the world economy could plunge into a double-dip recession. Alternatively, policy coordination that boosts aggregate demand and more directly attacks unemployment could improve prospects for economic growth.”

My Comment: Who said that the rate of economic growth is an indication of a crisis? How much more does it have to grow? Growth needs to be qualitative, not quantitative! It is necessary to stop thoughtlessly producing, selling, buying, and discarding, just to once again produce, sell, buy, and discard. It’s necessary to regulate the planet’s economy to produce whatever is needed to satisfy everyone, and not more than that.

We should stop considering an increase in the production rate as growth; instead growth is our ability to satisfy everyone’s needs for food, medicine, heat, safety, and housing. We need to free people from unnecessary and harmful work and obligate them to dedicate the freed up time to learning about integration, the new rules of the world community—the mutual guarantee. Otherwise, we will face not a second, but a never-ending crisis until we smarten up.

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One Comment

  1. With the costs of food skyrocketing and housing in most urban centers being very expensive, how can people hope to survive on reduced wages in the short term?

    I have a hard time accommodating my expenses with a full-time job, and I live very modestly. For example: housing: $1000/mth, vehicle, $1100, food, $800, and I make little more than $3000/mth. And this is average wage! If it were reduced by anything significant I would not be able to survive, this is the reality of costs in Canada.

    I heard that people will be paid to study as well, where would this money come from?

    The economic reform you speak of seems drastic at the best, and impossible at worst.

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