Posted on 07/12/2008 4:51:00 PM PDT by DeaconBenjamin
AMSTERDAM: World Bank president Robert Zoellick said on Saturday that he expected food prices to remain above 2004 levels until at least 2012 and energy prices would also remain high and volatile.
He repeated that with food and fuel prices in a "danger zone" there was a need for $10 billion to provide food and cash handouts for the world's poorest.
Soaring oil and food prices have fuelled inflation across the globe at the same time as economies slow, posing a sharp dilemma for policymakers. Earlier this week, leaders of the Group of Eight rich nations in Japan agreed on the need to address global inflation, particularly elevated oil and food prices.
"I think the statement on food security was a good statement, but the test will be on the delivery of the action," Zoellick said. "During the meeting I tried to emphasize that I feel we are in a danger zone of high food prices and fuel prices and there is a great need for additional resources."
He added that several countries had made substantial contributions towards the $10 billion sum, but funds would be needed continuously over the next years.
Zoellick is in Amsterdam to attend a conference on how the World Bank needs to adapt to a changing world. He says that, for example, the bank needs to pay more attention to cross-border projects rather than focusing on individual states.
Obviously there's no shortage of fertilizer.
With a ‘modest’ amount skimmed off for himself, of course.
Seems the experts are calling for everything to end, or change, in 2012.
Just sayin’......
I’ll be old enough to qualify for the Presidency by then.
Thank God!
:-D
LOL!
Like I’m the guy for the job, I know.
We’ll see what happens.
Just sayin’......
Isn't there something with a Mayan or Inca calendar forecasting the end of the world in 2012?
I guess the rest of the world figures that Obambi will win the election, and by 2012 the whole world will go to Hell in a handbasket, with no leader having the will, power, or character to hold it together.
While Ahmadinejad talks to and eventually launches his missle named The 12th Imam.
I think the World is gonna end in 2012, and all the world leaders have been clued in.
That is why prices are going sky high, on everything.
The greedy want to ‘whoop it up’ until the end, and we must pay for it.
(now, back to my padded cell)
at least I’m not the only crazy, paranoid old man.
HEY , who you calling old?
Oh yeah, me.
But hey, I like the crazy and paranoid part :)
The world bank is showing that it is involved in the increase in world food prices. This makes me think that Globalization of the “One World Government” is selling the USA out, and trying hard to make it a third world nation.
Our Congress persons have failed us.
2012 is the year the current Kyoto round ends, meaning current carbon credits will be worthless unless a new round reinstates them. Probably all the movers will dump them before then.
That goes into a lot of European thinking in the Euro econ planning stories. How and if it effects the prices of other things I can’t figure. But 2012 is a big year for planning purposes.
Give us a healthy tax cut, and donations to religious charities will surge, eliminating the problem.
Gosh, where'd you get that idea? Don't you know that being bonded to Mexico is going to save our economy?
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.