Alarming Merrill Lynch report: Inflation will "stoke riots" and cause wars
James Galbraith Says Housing Problem to Last `Long Time'
Why there's a 95% chance of a recession
Record oil prices signal 'new world'
Existing Home Sales Match All-Time Low in April; Inventory Swells
Sales of existing homes fall for eighth time in nine months
Murder for Hire In Santa Cruz - The Curious Career of Irwin Joseph
Number Of Unsold Houses Rise To 23-Year High
Fraud Probe At Moody's
· Merrill says gap between rich and poor will worsen
· Governments must curb rising prices, insists bank
* Andrew Clark in New York
* The Guardian,
* Friday May 23 2008
Riots, protests and political unrest could multiply in the developing world as soaring inflation widens the gap between the "haves" and the "have nots", an investment bank predicted yesterday.
Economists at Merrill Lynch view inflation as an "accident waiting to happen". As prices for food and commodities surge, the bank expects global inflation to rise from 3.5% to 4.9% this year. In emerging markets, the average rate is to be 7.3%.
The cost of food and fuel has already been cited as a factor leading to violence in Haiti, protests by Argentinian farmers and riots in sub-Saharan Africa, including attacks on immigrants in South African townships.
--MORE--
Why there's a 95% chance of a recession
Record oil prices signal 'new world'
Existing Home Sales Match All-Time Low in April; Inventory Swells
Sales of existing homes fall for eighth time in nine months
Murder for Hire In Santa Cruz - The Curious Career of Irwin Joseph
Number Of Unsold Houses Rise To 23-Year High
Fraud Probe At Moody's
· Merrill says gap between rich and poor will worsen
· Governments must curb rising prices, insists bank
* Andrew Clark in New York
* The Guardian,
* Friday May 23 2008
Riots, protests and political unrest could multiply in the developing world as soaring inflation widens the gap between the "haves" and the "have nots", an investment bank predicted yesterday.
Economists at Merrill Lynch view inflation as an "accident waiting to happen". As prices for food and commodities surge, the bank expects global inflation to rise from 3.5% to 4.9% this year. In emerging markets, the average rate is to be 7.3%.
The cost of food and fuel has already been cited as a factor leading to violence in Haiti, protests by Argentinian farmers and riots in sub-Saharan Africa, including attacks on immigrants in South African townships.
--MORE--