Anarcho-Brocialist
29th May 2012, 19:18
First off, I don't know if this is the correct form to publish this thread, if need be, it can be move to a more appropriate one.
The head of the International Monetary Fund Wednesday told Harvard University graduates they faced one of the most challenging economic times since the 1930s.
"Your generation is facing probably the worst economic insecurity in decades, possibly ever since the Great Depression," IMF Managing Director Christine Lagarde said in her commencement speech to the John F. Kennedy School of Government graduates.
As the euro crisis threatens to spark another world-wide financial crisis, Lagarde pointed to "the inability of 75 million young people to find a decent job, rising inequalities that strains the compact holding our society together, [and] a fear that the global economic engine will no longer deliver as it did in the past."
"I really wish that our generation could instantly forge a better legacy for you. We will keep at it," she said. "But it is now going to be your turn to apply your talent, your determination and your idealism to help overcome those challenges and seize the opportunities created by this new world," the IMF chief said.
"You will need to connect the dots, to reconcile the high-intensity connections with a more cooperative governance," she told the graduates.
"This requires new ways of thinking, new ways of behaving...Your generation must become another 'greatest generation,'" Lagarde added.
Link is Here (http://online.wsj.com/article/BT-CO-20120523-714482.html)
I must say that the whole notion that we'll look towards Ivy League graduates for guidance kind of angers me. Most of these graduates, if not all, have had silver spoons in their mouth, and believe what's best for rich people will inevitably be whats best for the rest of us. Secondly, the "greatest generation" did well economically because Japanese and German manufacturing were destroyed during WW2, which meant we had little global competition.
Anyways, what are your thoughts on this article, and what do you believe will happen if the Euro crises become worse?
The head of the International Monetary Fund Wednesday told Harvard University graduates they faced one of the most challenging economic times since the 1930s.
"Your generation is facing probably the worst economic insecurity in decades, possibly ever since the Great Depression," IMF Managing Director Christine Lagarde said in her commencement speech to the John F. Kennedy School of Government graduates.
As the euro crisis threatens to spark another world-wide financial crisis, Lagarde pointed to "the inability of 75 million young people to find a decent job, rising inequalities that strains the compact holding our society together, [and] a fear that the global economic engine will no longer deliver as it did in the past."
"I really wish that our generation could instantly forge a better legacy for you. We will keep at it," she said. "But it is now going to be your turn to apply your talent, your determination and your idealism to help overcome those challenges and seize the opportunities created by this new world," the IMF chief said.
"You will need to connect the dots, to reconcile the high-intensity connections with a more cooperative governance," she told the graduates.
"This requires new ways of thinking, new ways of behaving...Your generation must become another 'greatest generation,'" Lagarde added.
Link is Here (http://online.wsj.com/article/BT-CO-20120523-714482.html)
I must say that the whole notion that we'll look towards Ivy League graduates for guidance kind of angers me. Most of these graduates, if not all, have had silver spoons in their mouth, and believe what's best for rich people will inevitably be whats best for the rest of us. Secondly, the "greatest generation" did well economically because Japanese and German manufacturing were destroyed during WW2, which meant we had little global competition.
Anyways, what are your thoughts on this article, and what do you believe will happen if the Euro crises become worse?