Tuesday, December 9, 2008

RANTING - Economic Injustices

This whole banking bailout, world economic crisis, trillions of dollars in debt, housing market, war, terror, terrorists, terrorism, war on terror, Iraq, Afghanistan, Africa, India, Pakistan, Iran, WW3, thing got me thinking. 

I had a little comment regarding infrastructure funding in Red's post, "To Coalition or Not to Coalition." I just wanted to be sure that I had my head on straight and started reading up on some this shit storm. It turns out I was pretty spot on according to, Professor Prabaht PatnaikProfessor at the Centre for Economic Studies and Planning at India. He noted that, 

"The response measures had also been inadequate because injection of liquidity alone is not the answer; it has to be accompanied by injecting demand into the market through State investment in infrastructure and social services." -http://www.globalresearch.ca/index.php?context=va&aid=10792

I am left feeling really uncertain that the 700 billion American tax payer dollars handed over to the Banks/Bankers who caused this GLOBAL economic crisis is going to be invested into services and infrastructure that is going to create the demand and the jobs required to heal this global boo-boo. I'm also confused as to who will accept the liability of this GLOBAL economic crisis? Since it has been acknowledged that the GLOBAL economic crisis was perpetrated by the irresponsibility of U.S. banks, shouldn't the rest of the world have a say of how the bankers are investing that money? It sounds ridiculous right? Non-Americans having control of American taxpayer dollars. Perhaps we shouldn't have control but we should be there watching what they do with that money like a good, concerned parent would. Or the parents of a compulsive gambler who can't leave their kid alone because they will blow a trillion on black. The recipients of this bailout money need to be watched and watched closely, by independent, trustworthy people who are not being bankrolled by any alternately interested groups. Better yet, they need to be told how to spend and invest that money so that they are unable to make decisions, anymore. It was their shitty decision making that has cost nearly 300 miners in Cape Breton their jobs, it was their shitty decision making that has cost nearly 300,000 jobs in the Democratic Republic of Congo and it was their shitty decision making that may prompt the Big 3 to cut nearly 50% of it's labour force, 2.5 to 3 MILLION JOBS in order to not go bankrupt. 

The world has been done wrong by a group of people. I don't know who they are but I'm sure that they are there because the Invisible Hand didn't pull this shit, that's for sure.  

So I'll ask again, who is going to be liable for this? The entire world has been forced into cleaning up the puke from some power drunken assholes who make shitty decisions based on false prudence and a sense of invincibility. 

SO, at the end of the day when we are putting our collective stimulus packages together, can we please add justice to the list of priorities? Some people are responsible for this and the rest of the world needs to be given their due. 

1 comment:

ah, fuck it said...

although i agree with most of what you just said, i dont think there is any chance that the US govt or wall street will be willing to take any advice or be accountable to anyone except the investors.

if you are interested in this sort of justice across international policy, etc you should check out fidel castro's book Political Portraits: Fidel Castro Reflects on Famous Figures in History, and a few of his other books. he approached ideas from a social justice point of view and he has some interesting ideas about things like economic relief and international courts.

and it is all well written, with a sharp and critical voice.