Tuesday, October 14, 2008

Financial Melt down [My Arse]

What a load of hype we have been subjected to over the last month or so. You would think that the world was coming to an end. Well surprise, it was Wall Street that was having a melt down not us. It is like that old saying that if, "America gets an economic cold the rest of the world gets pneumonia." We are playing into the hands of these mega wealthy, large institutions that brought on their own problems through greed and manipulative behaviour. The multinationals and banks have prolonged a consumer cycle so they could continue to collect their mega profits. HERE is a link to an article about the Bretton Woods System. And here is a quote from Noam Chomsky which heads the article.

Anti-Democratic Nature of US Capitalism is Being Exposed

Bretton Woods was the system of global financial management set up at the end of the second World War to ensure the interests of capital did not smother wider social concerns in post-war democracies. It was hated by the US neoliberals - the very people who created the banking crisis writes Noam Chomsky.

Yes we have been hoodwinked into believing yet again that we were operating in some sort of free will environment. No we are by and large, swept along by forces much greater than we can comprehend. The truly sad thing about this is that our Governments are not blind to these forces they are in fact party to them. Especially in the U.S.A.
So now we are all suppose to focus on saving our savings and retirement funds. our homes, and small businesses. And all the while our environment, that is in dire need of help, will be pushed aside as we grapple with. this other man made problem.

As someone said "If we don't do something about our environment there wont be an economy to worry about."

From what I'm hearing from politicians all over the world is that we have to provide funds so we can all get back to spending as soon as possible. The only answer they have is to stimulate the economy, create a buying spree, that's the answer. That has been part of the problem, too much indiscriminate spending on disposable goods. We use too much of everything, create a big environmental stench and then wonder why the world is getting hotter and the Ice caps are melting.

The politicians of the last couple of decades have happily allowed the world economy to go it's own sweet way. Big business to get bigger and bigger. The crumbs from this economic "Miracle' have been tossed to the masses as Tax cuts and hand outs, in a vain hope they would appease the voters. Well it worked, but with no plan for the future, [And still no plan for the future] all they can come up with now is. 'Lets stimulate the economy, spend more again, hurry up the recovery. so we can all make believe we don't have any problems.

Here in Australia. with a change in the Federal Government. we started to talk about using the surpluses on making our economy sustainable. From electricity generation to household emissions. Everyone was going to be part of the Greening of Australia. That was before this Wall St. induced melt down. Now the focus is back on saving the arses of the big banks and investment houses.
If we could be as decisive in our response to Climate Change as we are to Economic Change, The world would be a much safer, cleaner, happier place to live. For all.
Woof x