Comments on: Ask the World Bank President

By: jane bush

jane bush — Fri, 06 Nov 2009 11:33:42 +0000

Thanks for sharing event video… nice post…

By: vaughn jones

vaughn jones — Sat, 20 Jun 2009 19:05:50 +0000

i think would will help restart the wheels turning again for this economy is to give every working american a second chance by restarting are credit scores we can get a low interest loan to pay off debt start buying cars again and homes

By: Nazim Hasan

Nazim Hasan — Sat, 04 Apr 2009 19:06:59 +0000

It is quite rational to see and understand the present financial situation, and Mr Zoellick has just done that. It is indeed disturbing to find the world in an economic chaos. What really caused this…we have to be realistic and not idealistic. Bad debts, unwarranted aid to nations with bad credit history, sagging resources caused by the Iraq and Afghan quagmire. How Mr. Zoël lick is going to bring the world currency mechanism in an acceptable broadband? The WB and the IMF are simply following the old traditional path, and this needs to be reviewed. Unless all the nations agree to a common denomination factor based on the present monetary situation and come out with a realistic solution -indeed the year 2009 will be a “Very dangerous year” as developing nations will be hard hit and the poverty alleviation programs may be in economic ‘Freezer”. Moreover, the WB and the IMF have to be free of political pressure so they can think independently and perhaps a viable solution may be in sight. Lets keep the fingers crossed. Good Luck Mr Zoellick !

By: Raphael Ikyaabo Orban

Raphael Ikyaabo Orban — Tue, 31 Mar 2009 17:06:09 +0000

As an economists in a developing world, ‘am scarred that this financial meltdown could be an attempt by developed nations to envelop developing nations.Pls, as a world bank president can you tell me how it all started?

By: Octavian Petrescu

Octavian Petrescu — Tue, 31 Mar 2009 13:13:48 +0000

dear sir,

I would like to hear your opinion about what could have been done to avoid the world crisis.
What was the most important factor that triggered the crisis?

By: Sophia W-G

Sophia W-G — Tue, 31 Mar 2009 12:47:36 +0000

I am curious as to how the World Bank will address the plight of highly indebted middle income countries during this crisis. The crisis provides a unique opportunity to speak to and implement concrete measures that can assist those countries which have debt to GDP ratios of higher than 90% and between 60 and 90 per cent. These countries need a combination of debt relief and debt forgiveness that looks at what is being offered to the HIPCs and takes in the developmental challenges that debt poses by crowding out public and other necessary investments in human capital development. If these countries are “freed” up, in a sense, to pursue other development imperatives, it will also be to the benefit of the developed world as the problems of the developing world usually become the problems of the developed world.

By: niu

niu — Tue, 31 Mar 2009 07:31:28 +0000

Asia is the only area which has a positive economic growth at this difficult time. Among the countries The Maldives is the richest as per GDP. My Question is about the future of Maldives economy and the challenges it has faced. What are the most important steps the Maldives government and private sector should take during this crisis to keep the country’s position.

By: Gabrial from Indiana

Gabrial from Indiana — Tue, 31 Mar 2009 06:02:21 +0000

One of the most striking truths revealed by the current financial crises is the disparity between the enforcement of tax law for the poor and for the wealthiest one percent. It is estimated that corporations have more than 100,000,000,000 in assets hidden away in the Cayman Islands alone at a time when many financial entities are in the need of recapitalization and the treasuries of so many nations are at the brink what role should the world bank play in ensuring that these banks and other irresponsible entities who have bene recapitalized by those who have not skirted tax law are not themselves avoiding international tax law in havens such as was previously established in Lichtenstein and that still exists in the Caymen Islands.

By: Phil

Phil — Tue, 31 Mar 2009 05:51:00 +0000

The Gold Standard and the workingman and woman
This may sound like science fiction but under the Gold Standard there is permanent deflation equal to economic growth. If the economy is growing at 2 percent year you will have deflation rate at 2 percent a year. The value of your Gold backed money increases year after year. The earnings you make today this money will be worth more the next year. This changes the psychology of working men and women instead of spending all of your money today on credit to beat inflation and demanding wage increases to compensate for inflation. Under the Gold Standard working men and women will cause them to save their Gold backed money and hold off on any purchases except for basic necessities such as food rent clothing and major purchases will be put off to the last possible minute. The working class will save their money in a Gold reserve bank to gain an additional half percent on top of deflation. There will be those people who will demand the actual Gold Silver Palladium and Platinum bars and coins and chose to keep their precious metal assets under the mattress or a safe. But these people will keep the system honest in stopping the governments and the banks from printing more paper certificates than there are Gold reserves to back it up. Under the Gold reserve banking system savers or depositors have title to their money. This means the working class people decide which companies will get loans for their businesses and which businesses will not get loans. Obviously companies that engage in environmental disasters, fraudulent practices, habitual layoffs, hiring and firings to lower wages, hiring illegal aliens, hiring foreign workers to displace domestic workers, deindustrialization’s outsourcing work to outside of their home countries to lower wages will not get loans. A company that hires and invests long term only their home countries have stable socially responsible employment practices not creating environmental problems and are good business neighbors will get more loans than they can use.
The business cycle is created by excessive credit expansion than when inflation becomes a problem than a sudden contraction in credit to stop inflation. This is why we have regular recessions and deep recessions. A Gold Standard will have no business cycles just seasonal cycles. The ideal balance for fiat currencies is to expand the money supply not greater than the economic growth thus no inflation but nor deflation. However central banks and regular banks cannot stop stealing and they will steal as much as they can get away with. This is why we have the permanent inflation tax. Inflation is just plain stealing from the workingman and woman. The 1929 great depression was intentional so banks can buy distressed companies at pennies on the dollar. During the 1920’s or the roaring twenties stock market boom the Federal Reserve greatly expanded credit far beyond reason and to get all of the suckers in the stock market swindle. This swindle pump and dump scheme created the Rockefellers J. P. Morgan and other banking families their extreme wealth. It was the world’s greatest swindle. This swindle created an oil dependent economy which banks profited handsomely.

By: Veerakumaran

Veerakumaran — Tue, 31 Mar 2009 05:39:33 +0000

Sir,
It seems that the cooperatives worldover are relatively safe and continued to perform better in all sphere of economic and social actvities. would you recommend the cooperative form of economy to solve the current crisis?