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Who Becomes Poor in the Financial Crisis

Posted Oct 15 2008 1:14pm 1 Comment

The financial crisis is paralyzing the world.
As we see our investments diminish and our costs increase we hold tighter and tighter in our wallets. Most industrialized countries around the globe have announced rescue packages to save their financial market.

Who will pay the bill?

We worry that it is us the tax payers that will have to carry the burden. But isn’t there usually enough money to the large mass of citizens with the right to vote. The crisis will make many of us feel poorer. But fortunately not many of us will be pushed into real poverty.

But how about the already poor countries?

In their Millennium Development Goals UN has the ambition to by 2015, among other things, halving extreme poverty and halting the spread of HIV/AIDS. But today they are not so sure that they will succeed.

“Financial crisis threatens efforts towards global anti- poverty targets,” says UN Deputy Secretary-General Asha-Rose Migiro.

I believe are that Migiro’s concerns are justified.

Today is Blog Action Day 2008. And this year it is about Poverty.

So today I just want to post this video about poverty.

Technorati Tags: poverty


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Comments (1)
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The faces of poverty is certainly very alarming. However, everyone is expecting that the country's economy will recover a lot faster than it can. The rich would be the preachers of spending. They may be the ones prodding everybody to forget about saving and spend. Who definitely are you falling victim to consumerism with if not the wealthy? Many times it's really a select few that financially benefit when financial systems tumble down. Someone just has to check on line to see a new harvest of financial websites that fit every little scenario. Folks might get out of jail using a loan to pay their particular bail bond firm, (See Cyberspace is simply getting uncontrollably. Keep an eye on the politicians that are telling absolutely everyone to waste money your personal savings to keep the financial system running.
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