One Shock Away from a Full Blown Crisis
The world is "one shock away from a full blown crisis" according to the World Bank president.
"It's probably too much to say that it's a jobless recovery, but it's certainly a recovery with not enough jobs," he said. "Especially because of youth unemployment... there is now a risk that this will be turned into a life sentence, and that there is a possibility of a lost generation."
Only one lost generation? It seems like many boomers lost careers and retirement AND youth has lost future careers and opportunities for middle class lifestyles. More like two generations AND perhaps, Western Civilization to boot.
The US may fail and cease to exist as a Western democracy once it's economic lifeblood is sucked dry and the Latinos take control in 2050. There is absolutely no history of South, Central or North American Latinos creating wealthy democracies even remotely like the US. Which civilizational model leads going forward? Communist China?
"It's probably too much to say that it's a jobless recovery, but it's certainly a recovery with not enough jobs," he said. "Especially because of youth unemployment... there is now a risk that this will be turned into a life sentence, and that there is a possibility of a lost generation."
Only one lost generation? It seems like many boomers lost careers and retirement AND youth has lost future careers and opportunities for middle class lifestyles. More like two generations AND perhaps, Western Civilization to boot.
The US may fail and cease to exist as a Western democracy once it's economic lifeblood is sucked dry and the Latinos take control in 2050. There is absolutely no history of South, Central or North American Latinos creating wealthy democracies even remotely like the US. Which civilizational model leads going forward? Communist China?
posted by lugh lampfhota at 6:06 PM
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