<http://www.itp.com/newsletters/click.php?tid=264972&e=jameelsx=:aramco.com.
sa>
http://www.arabianbusiness.com/images/magazines/arabianbusiness.com/web/news
letter/Kevin-3_nl.jpg

http://www.saatchikevin.com/

 

 
<http://www.itp.com/newsletters/click.php?tid=264972&e=jameelsx=:aramco.com.
sa> EXCLUSIVE: Saatchi & Saatchi chief warns of global unrest in 2010 
CEO Kevin Roberts says stimulus not working, wave of crime and violence to
come. 


Saatchi & Saatchi chief warns of global unrest in 2010


by Anil
<mailto:[email protected]?subject=arabianbusiness.com:%20Saatchi%20&amp;a
mp;%20Saatchi%20chief%20warns%20of%20global%20unrest%20in%202010>  Bhoyrul
This email address is being protected from spam bots, you need Javascript
enabled to view it  on Wednesday, 11 November 2009 

 

2010 WARNING: Saatchi & Saatchi global chief Kevin Roberts has warned of
mass social disorder next year. (Bloomberg Images)

Saatchi & Saatchi global CEO Kevin Roberts has warned of mass social
disorder in 2010, with "more violence, more drugs, more alcohol abuse, more
crime" being the next phase of the global economic crisis.

In an interview with Arabian Business magazine to be published on Sunday,
Roberts dismissed the predictions of growth next year by the World Bank and
the International Monetary Fund (IMF). Instead, he warns that "the bad times
are here".

He said: "It will be tough next year because the stimulus packages are not
stimulating. They are not working. The social costs will go through the
roof. 70 million unemployed means more violence, more drugs, more alcohol
abuse, more crime. It is already happening. You will see a social crisis in
urban developed markets.

"Think Chicago, London, Mumbai. 20% of 16 year olds don't find a job so they
don't spend. They get pissed off because they believe they deserve it so
they will take it..People will lose hope and turn to drugs and violence
against weaker people, their wives and children."

He added: "This is not a recession. This is a reframing of the world.
Consumers are never going to go back to spending more than they earn. This
was fundamentally a problem of consumers saving nothing and spending what
they didn't earn. Recession is over but the only people that can borrow
money are people that have money, and they are the people that don't need
it."

But despite his concerns for the global economy, Roberts was more positive
on Dubai, saying the emirate has done spectacular things on "job creation"
in the past few years.

Last month, the IMF said growth in Arab oil exporters was set to slow to 0.7
percent this year but would rebound in 2010 to grow by 5.2 percent on rising
oil revenue.

Saudi Arabia and five of its neighbours in the world's biggest oil-exporting
region are likely to post fiscal surpluses amounting to 5.3 percent of gross
domestic product this year, compared with 27.4 percent of GDP in 2008, the
IMF said.

Next year's surpluses will amount to 10.4 percent of the region's GDP.

Real GDP growth in 2009 for the Gulf - including the UAE, Kuwait, Qatar,
Oman and Bahrain - would fall from an estimated 6.4 percent last year, the
IMF added.

In a wide ranging interview, Roberts - who heads up 7,000 staff and is a
respected speaker at international conferences, also took a swipe at the
region's advertising industry, saying that advertising award ceremonies have
been "a shambles" 

refered by ...... -> 
url is ->  <http://>
www.arabianbusiness.com%2F573146-exclusive-saatchi-aamp-saatchi-chief-warns-
of-global-unrest-in-2010 

 


READERS' COMMENTS


Disclaimer: The views expressed here by our readers are not necessarily
shared by ArabianBusiness.com or its employees.

Social Unrest 

It's about time somebody started to speak out about this. The corporate
world wants us all to think everything is ok while they get on with
returning to the bonus culture. The financial industry has learned nothing
from this crisis of their making. The absolute sense of entitlement to their
multi - million dollar bonus for producing nothing tangible is amazing. They
manipulate prices without regard for the effect it has on main street. They
drove oil to $150 per barrel and yet demand was not their at $100 per
barrel. They played with rice and drove the prices up in their pursuit of
profit with scant regard to the affect it has on the poor. They shrug this
off with a remark about the MARKET doing its thing.

Watching Nick Griffin on BBC recently sent a shiver down my spine. Not with
what he says but to the fact he is appealing to peoples sense of frustration
in the UK. The fact that he has not got the intellect to really take hold of
the masses means he is not a worry, However somewhere in Europe, Middle
East, Asia, Americas somewhere there is a person who will be able to
articulate the frustrations of people...An intellectual NICK
GRIFFIN.....someone educated and articulate that will lead people down a
dark path.....In the word's of Lee Iaccoca...."Where have all the leaders
gone" 

 

 

 

 

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