No answer at Davos forum to global meltdown

 To echo from our ‘about us’ page, Muhammad Yunus’s comment, below

We face many challenges to achieving this, not least, the economic failure we are now experiencing and the natural response to ‘fight the last war with obsolete weapon’s’ but we have no option but to enter the future and we must envision what this future will be.

Human ingenuity and enterprise will ensure that some societies and organisations will exist and thrive as we attempt to ‘keep ahead of the oil curve.’ Much of future ingenuity, research, education, legislation and incentives must be directed to this end.


see also


No answer at Davos forum to global meltdown


…………………Business and government leaders blamed the United States for starting the financial crisis that is turning into a global recession.

“Davos just sort of encapsulates the broader global debate,” said Stephen Roach, chairman of investment bank Morgan Stanley in Asia and one of the few to warn last year of the global ramifications of the U.S. sub-prime mortgage problem. “We’re now moving into the ugliest phase of every crisis, the blame game.”

“Wall Street made mistakes. Regulators made mistakes. Rating agencies made mistakes. Central banks made mistakes. Politicians made mistakes _ we all did it,” Roach told The Associated Press. “So let’s be careful that we don’t let this blame game get out of hand.”

Last year at Davos, there was a widespread belief that the major emerging economic powers _ China, India, Russia and Brazil _ could survive a slowdown or recession in the United States because of their growth potential. But that has proved to be wrong, many said.

John Chipman, head of the International Institute for Strategic Studies in London, told the AP that no session in Davos examined “the links between the global economic downturn and financial difficulties, and the prospects for geopolitical conflict and conflict resolution.”

“Intuitively, one would think that with the current economic situation, there would be countries whose social stability would be a threat unless they were able to maintain growth levels,” he said, citing China as one example. ……………..

……………..Nobel Peace Prize winner Muhammad Yunus, founder of the Grameen Bank in Bangladesh and the father of microcredit, saw a silver lining in the financial crisis.

“It’s not just disappointment and frustrations,” he told AP. “This is the greatest moment we have because things need to be changed, it’s as simple as that. We don’t want to go back to the same normalcy that we’re coming from. We will create a new normalcy which will stay and keep on moving and change the world.”

Complete article at

see also

International Institute for Strategic studies

Chatham House

Walt Patterson


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