Davos: Officials And Leaders See No Quick Fixes To Global Economic Crisis

Deep gloom marked the first day of the World Economic Forum in Davos on Wednesday, with economists, officials and business leaders seeing no quick fixes to the global economic crisis and warning against a growing protectionist mood.

Co-chairs of the event, including Stephen Green, chairman of HSBC, and Rupert Murdoch, chairman of News Corp, cautioned that isolationism and protectionism threatened the chances of creating a more sustainable kind of capitalism.

Read the whole story here.

Comments

[NABNYC]

There is a wonderful song named "A Desalambrar," written by Victor Jara. They should play it at this gathering. Victor Jara was a Chilean singer, songwriter, poet, theatre director. Social justice activist. Community organizer. Murdered by the Pinochet thugs four days after the 9/11/73 coup.

"Desalambrar" can be interpreted to mean "to deconstruct,." Some interpret it to be "to cut," as in "to cut the wires of the fences" to let the people onto the land.

I could not find an English translation online, but here's my rough one:

I ask everyone here,
has it ever occurred to you that this land belongs to us,
not just to the people who have the most wealth.

I ask whether, in this land,
there are not those who have thought this:
if they are our hands [that do the work],
then the things that our hands make should belong to us.

Then the chorus:
A Desalambrar (let's take it apart, or tear down the fences),
because this land is ours, yours and mine,
it belongs to Pedro, Maria, Juan and Jose.
Last verse:
If somebody does not like my song,
or does not want to hear it,
you can be sure that person is either a gringo (white folks)
or a dueno (rich man/landowner) of Chile.
Or listen and read more at http://NABNYC.blogspot.com

[spinns17]

all the crooks of the world in one big party city.

[ThePeacemakers]

I did about a year as a music major in college...for an elective, I took some economics courses.

Not only did I destroy the curve (killing the biz majors grades) - I told the teacher after the class:
I don't think this system is going to work.

[RebelPatriot]

The Hegelian Dialectic in action -

Thesis, Anti-thesis, Synthesis.

or

Problem, Reaction, Solution.

This is all just a game of control waged against the people by the Powers that Be.

[RebelPatriot]

The people that helped to create the economic crisis/meltdown -

have just the solution to the problems.

you just have to sheepishly trust the foxes guarding the henhouse.

will you?

[NABNYC]

Like my friend LaVoyne always says, you can't fix stupid.

I suppose all these rich people, with lots of degrees and credentials and resumes long enough to paper a now-vacant subdivision of 400 homes in foreclosure, will spend a lavish few days talking among themselves, coming out with the "official story," that there is no quick fix.

But they will reach that conclusion only because they know full well what the fix is, but they want to convince the rest of the world, like a magic hat trick, that there is no solution. No money. It all just disappeared. The roses are gone, the rabbit went down the hill.

The reason most of us are broke is because a small percentage of the people in this country -- let's say 15% -- have taken most of the world's wealth for themselves.

If we want to solve the problem, so people don't starve to death and die on the street, we need to have a one-time wealth tax. Take it back from the people who have amassed so much wealth that they rule the world without ever having been elected. It's simple: here's your solution. Just take the money back and redistribute it to the majority of the people in the world by building houses, schools, hospitals, training people, giving them jobs. And food. And shelter.

[wm1066]

I hear you NABNYC but I think its going to get bloody getting that money back.
The class war will be all out war before this is over.

[magibrotherhood]

A gathering of Primo Narcissists-------yep---that will surely solve the crisis.

[rjohns3]

Given the results these people have to show over the last few years, why do people still listen to them?

[bluguy8]

A little protectionism sounds good to me -- we need to worry about the USA , not the rest of the world right now .Maybe this group should move to Europe-but they have their own issues too

[ModerateMouse]

Rupert Murdoch hosting a forum on economic crisis is like a p e d a p h i l e holding a summit on child welfare.

[NABNYC]

To Moderate Mouse: "Rupert Murdoch hosting a forum on economic crisis is like a p e d a p h i l e holding a summit on child welfare."

Very funny.

[LDnearthesea]

I wouldn't take any conference where Rupert Murdoch is in attendance seriously. He's the poster child for corporate criminal greed!

[DMcD]

Thats exactly what I was thinking --- 'progress' and 'Murdoch' are polar opposites !!

[MissingAmerica]

I liked Jon Stewart's idea. Provide the stimulus package but instead of giving it to those who caused the problem in the first place, give it to consumers with the stipulation that it must be used toward consumer debt such as mortgages or credit cards. That way the institutions get their money and we start climbing out of debt which has largely been caused by their ineptness and greed. Although it may not be a cure, it makes a whole lot of sense! Politicians should be so logical! I think that sometimes education teaches thinking to the point that the art of logic is lost!

[DMcD]

I'm with you --- and John ------ sounds reasonable to me.

[Cornhusker40]

Step 1. Get rid of the FRS.

[OkieMon]

first oil crisis of the seventies had a relatively easy fix (both parents had to get jobs) and yet that took 20 years to overcome...now jobs are scarce and both parents can't find jobs....looks like it will take more than 20 years to get over this rep*ug-made dis*aster.....

[LDnearthesea]

The other fix was that for a short time, American automobile makers started to make fuel efficient cars. Carter saw to it that the emerging solar energy industry got tax breaks. Then Reagan got elected!

[naschkatze]

Hear, hear. I hope there are record protests too against these self-appointed, self-perpetuating clowns. I am disappointed that Obama is sending Valerie Jarett.

[naschkatze]

This comment was meant to go beneath bavb63.

[magibrotherhood]

This conference SMEELS like Bilderbergers---------------

[magibrotherhood]

BIlderbergers.