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Jobless recovery, need for a basic income.

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Dear readers, This time is the president of the IMF, which warns of an economic recovery without job creation.

and eastern China are the factories of the world, is therefore here that creates jobs and growth. This in itself is not bad if the advanced countries and the West moves to adapt their tax systems to globalization. have appeared this week holding a monetary war

the devaluation of the yen and the dollar.

In a globalized world monetarism does not make sense, and therefore need to go to a neutral tax system that is on competition and allowing cover basic income. This is what is proposed ARENCY. 'll leave you with an article published in the newspaper El Mundo

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http://www.elmundo.es/mundodinero/2010/10/08/economia/1286551716.html

ANNUAL MEETING OF IMF AND WORLD BANK

Strauss-Kahn

' For the man in the street a jobless recovery means no much '

Updated

Friday 08/10/2010 17:28 Efe

The IMF and World Bank hold their annual meeting in the midst of controversy over the "war of currencies ', a phenomenon in which several countries are devaluing their currencies to boost exports, but that may hinder the global recovery .

"Make no mistake, we are not at the end of the tunnel and the man in the street a jobless recovery does not mean much, so we should pursue sustainable growth, but also to create jobs," he adds.

Frenchman recalled that during the global crisis 17 million jobs lost . And worrying, in the coming decades will join the labor market of 450 million people that if they have no expectation of work, could bring this vast "lost generation", he warned.

In his view, the world faces "a very uncertain future" and recovery is underway " fragile because it is unfair" to move at two speeds, fast in the emerging world and slow in the developed world.

While the IMF is reasonably "optimistic" and ruled out a return in the crisis of 2007-2009, recognized that there are real risks in the recovery process underway.

Alert heavy indebtedness

Strauss-Kahn warned continuing threat posed by high debt levels and noted that countries that are in that situation need to enter the medium term in the path of fiscal austerity.

however, said that in the medium term, countries must exhaust stimulus measures at its disposal to foster growth that is needed, especially in the U.S. and Europe.