In the News (from Business Standard): “The United Nations has lowered global economic growth forecast for the coming two years even as it warned of a new global recession due to the US cliff situation and EU debt crisis. …

“‘A worsening of the euro area crisis, the “fiscal cliff” in the United States and a hard landing in China could cause a new global recession. Each of these risks could cause global output losses of between 1 and 3 per cent,’ UN’s team leader for the report Rob Voss said. …

“‘It is essential to change course in fiscal policy and shift the focus from short-term consolidation to robust economic growth with medium to long-term fiscal sustainability,’ it said. …

“‘The reorientation of fiscal policies should be internationally coordinated and aligned with structural policies that support direct job creation and green growth. Monetary policies (also need to) be better coordinated internationally and regulatory reforms of financial sectors be accelerated in order to stem exchange rate and capital flow volatility, which pose risks to the economic prospects of developing countries,’ it said.”

My Comment: Their policy indicates only the experts lack of understanding of the cause of the systemic crisis. They are still hoping for a return to the old system of management. We will have to learn the nature of a new integral state of humanity. The sluggishness of world leaders and our (BB) lag in explaining how to correct the crisis can bring about great suffering in the transition to the next stage (formation).
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