Wednesday, March 11, 2009

Depression - all about containing the threat of civil unrest, perhaps even war

NVDL: I know a lot of people are very dismissive when they read some of the grim content on my blog, partically my post: PANIC/DON'T PANIC. I'm not a lone voice crying in the wilderness. The threat of civil conflict and war is well understood even in the mainstream, as the article below from Business Day (today) illustrates.

One important aspect that we can control is how we respond to a growing sense of hopelessness. We also don't have to join other people who give in to destructive pursuits. The choice is ours, but when it comes down to it, will we make mob-based choices, or rational choices, because up until now we have been sheep herded into markets and cowed into becoming zombie consumers.

IMF MD Dominique Strauss-Kahn said it was clear the global economy would contract, falling below zero this year, which might curb Africa’s growth below an expected pace of 3%. Sustained donor support was vital, as more than 50-million people, many in Africa, could be thrown back into “absolute poverty”, he said.

“Although the crisis is slow in reaching Africa’s shores, we know it’s coming and its impact will be severe,” Strauss-Kahn said.

“This is not only about protecting economic growth and household incomes, it is also about containing the threat of civil unrest, perhaps even war.”

Manuel told Business Day in an interview that he hoped to be proved wrong, but he was sceptical that developed countries would cough up the cash that Africa needed to maintain political and economic stability.

“If you can’t kick ass, no one takes you seriously,” he said.

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