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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: elmatador who wrote (22751)8/26/2002 6:26:13 PM
From: Joe S Pack  Read Replies (2) of 74559
 
Elmo,

I don't like all the side effects J6P's money does to
the receiving (begger ) countries. Given a chance I won't allow J6P country to mortgage all its moral values for the sack of WallStereet and big corporate crooks.
But at the same time I have less sympathy for all those idiots running other begger countries who brought them to this sorry state. You may argue that they were not fortunate to begin with, not educated well, poor etc. etc.
But if you analyse properly most of these countries are
run into ground not by the local uneducated poor souls but by
a group of power hungry/corrupt Western educated crooks.
So the blame is on both sides. Supply and demand applies well here too. Why create demand?


What the money from J6P achieves. These effects include:

imposing austerity measures that force poor countries to slash spending on education, health and social programs;

encouraging privatization, which transfers public assets to wealthy elites and foreign investors and creates unemployment;

stifling local industries by making it hard for local people to get loans;

destroying the savings of poor people by causing devaluation of national currencies; and

forcing governments to remove trade barriers and dismantle their regulatory mechanisms, which results in:

lower wages for local workers, bankruptcy of local corporations, and layoffs

weakening of environmental standards for the sake of economic productivity, and subsequent pollution and destruction of the environment,

appalling working conditions and human rights abuses, and suppression of union organizing.

Is this something you should proud of?
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