Income Inequality, Government Debt Are Biggest Risks for 2013

global economyFor its latest report on global risk, the World Economic Forum surveyed more than 1,000 experts and industry leaders, who concluded that the outlook for the next 10 years is not encouraging. The group identified income inequality and "unsustainable government debt" as the two major risks, followed by rising levels of greenhouse gas emissions.

The most-cited environmental risk was identified as a failure to adapt to climate change. The report's editor said:

These global risks are essentially a health warning regarding our most critical systems. National resilience to global risks needs to be a priority so that critical systems continue to function despite a major disturbance.

The report suggests that governments have become "dangerously complacent" about health risks due to success in combating disease. A risk case based on resistance to antibiotics, chronic disease and a lack of protection for intellectual property rights could lead to a breakdown in today's "hyperconnected" world.

Economic stresses are curtailing efforts to mitigate the effects and causes of climate change. The report suggests ways to make the strategic investments needed to deal with this particular risk.

Another risk results from the ubiquity of information and the speed with which it can be transmitted globally. The report cites the riots caused by the anti-Islamic film that was widely viewed on the Internet and played some role in the deaths at the U.S. embassy in Libya.

The report is available here.


Filed under: 24/7 Wall St. Wire, Economy, Politics, Research Tagged: featured

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Capt. Leigh

How about loosening up the mortage market. A decent person still can't buy a home!
Obama and the big Bonner, screwed up the Fecal Cliff. Now help real estate. Wait, better not.

January 08 2013 at 5:58 PM Report abuse rate up rate down Reply
eddieboyeddie.gibson

Where is Georg Bush, he started to crap, spent all the overage he had when he became a fearless laeader, then ran up 11 trillion, add what was left and it's almost 12 trillion, now it's 16 trillion because of Obama's prograns, I say bush is holding more money he stole from the country, call him. BUNCH OF GERKS, BOTH SIDES.

January 08 2013 at 5:48 PM Report abuse rate up rate down Reply
alexyas

Just got this from a friend and would like to share it with all:
The Fiscal Cliff” put in a much better perspective.
Lesson # 1:
* U.S. Tax revenue: $2,170,000,000,000
* Fed budget: $3,820,000,000,000
* New debt: $ 1,650,000,000,000
* National debt: $14,271,000,000,000
* Recent budget cuts: $ 38,500,000,000
Let's now remove 8 zeros and pretend it's a household budget:
* Annual family income: $21,700
* Money the family spent: $38,200
* New debt on the credit card: $16,500
* Outstanding balance on the credit card: $142,710
* Total budget cuts so far: $38.50
Got It ?????
OK now,
Lesson # 2:
Here's another way to look at the Debt Ceiling:
Let's say, You come home from work and find
there has been a sewer backup in your neighborhood....
and your home has sewage all the way up to your ceilings.
What do you think you should do ......
Raise the ceilings, or remove the sh*t?

January 08 2013 at 4:27 PM Report abuse +5 rate up rate down Reply
ectullis

The Biggest Financial Risks of 2013. Congress.

January 08 2013 at 3:36 PM Report abuse +1 rate up rate down Reply
1 reply to ectullis's comment
Swordfish

President

January 08 2013 at 4:06 PM Report abuse rate up rate down Reply
prhill1804

What and where is the evidence that any "video" was seen by & caused the assasinations of 4 Americans in Libya?!

January 08 2013 at 3:33 PM Report abuse -2 rate up rate down Reply
vietnamvet1967

The really Biggest is Letting OBAMA continue to use his CREDIT CARD, to give Money to Business's that going to go Brankrupt, Like Solar Panels, which by the way . He wants to try that again

HOW SAD

January 08 2013 at 3:09 PM Report abuse rate up rate down Reply
cesarvis

"The report cites the riots caused by the anti-Islamic film that was widely viewed on the Internet and played some role in the deaths at the U.S. embassy in Libya." - People are still repeating this lie??????? Are you kidding me??? Wow talk about hearing only what you want to hear and ignoring the truth!!!

January 08 2013 at 1:16 PM Report abuse +1 rate up rate down Reply
1 reply to cesarvis's comment
vietnamvet1967

Thats what Obama and hillary want, Takes the Heat off of them

How SAD that almost 4 Months later , Hillary still not talking, What a Waste of a Person

But of Course , The democrats and Liberials are Glad, and when it comes up, They Blame Republicans and of Course Fox News for Reporting it

January 08 2013 at 3:17 PM Report abuse rate up rate down Reply