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Strategies & Market Trends : John Pitera's Market Laboratory
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To: Louis V. Lambrecht who wrote (4529)8/30/2001 8:40:04 AM
From: Chip McVickar  Read Replies (1) of 33421
 
Louis,

Not that familiar with Lerrick and Meltzer to respond intelligently. But waiving the 3rd world debt would only shift paper around.., the underlying problems would still exist and then the private sector simply wouldn't invest in those governments.

They do make money on these international lending deals.

Might even open the door for multinational companies like Homestake Mining or Phelps/Dodge to establish serious fiefdoms without accountability to impoverished local governments. The international funds mostly go to maintaining government functions

But some new system that allows the money to directly filter into the country side by-passing the central bureaucracies would have more beneficial results. Some relief programs established at the grass roots are very effective. Why lay fiber optics before someone can afford and/or needs a phone or computer. When you fund governments without follow through the fat cats get the most beans.
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