When men exercised of gods III.
What are the economic actions applied by the president of the United States to stem the crisis? To find out, I typed in the browser “bush plans” and the first thing that comes out is this:
“Bush plan is the internet home of bush pilots, both new and experienced. We spent over two months in Alaska flying the best bush plans: Cessna, Piper, Beech, DeHavilland airplanes and other aircraft suitable for bush flying. ”
I had refine the search, so I added the word “crisis” and I got the following:
“WASHINGTON – The government with the weight of several options to ease the worst financial crisis in decades, according to a government fucionario. However, having more banks with bad debts, an idea that was brought on the stock market on Thursday, is not a certainty. ” (?).
The machines translation, though not very accurate, are always fun, at the end after a while of fruitless searches, in the newspaper Pravda online, I found this:
The plan for the crisis of Bush: The biggest transfer of cash in world history.
U.S.A. could learn from China
It’s been called “financial socialism”, “socialism for the rich” and “lemon socialism.” But what the Bush administration called “rescue” for financial institutions is the largest transfer of money from ordinary workers to the rich, in the history of the world.
The proposed program to buy a mountain of non-performing loans and other worthless assets of banks and finance companies will cost 700 billion dollars to 1 trillion.
This money comes from taxes on American taxpayers, most of whom are ordinary workers, around $ 2500 for each U.S. citizen will go to the hands of banks and financial companies.
The cost for each family of four will be around $ 10,000. This money could have been used for health care, to improve education, scientific research agenda for social care, for environmental protection; or a thousand other useful social purposes.
Alternatively, it could be used to cut taxes of ordinary people, or even to help them buy their homes. In its place he is donating to banks and financial companies whose managers and owners are among the richest in the world. These measures represent a massive redistribution of wealth from the working poor to the rich.
Learning from China
The argument of the Bush administration – faithfully repeated by the media in the U.S. – there is no other way. ” The idea is that the system of the USA, and the jobs of workers in the U.S. included, can be safeguarded only through this transfer of cash to banks.
In fact, this argument is incorrect.
The government must act to protect obviously banking and finance in an economic crisis of this magnitude. But if banks are ruined or are insolvent, a fair solution would be to buy or nationalize the banks, not their debts. Then, in that case, the taxpayers would receive something of value – a new responsible and stable banking system that belongs to the people, instead of debts without worth.
In China, such a solution would seem common sense. With its socialist market economy growing up a 10% per year, the bank of the Chinese government played a dominant role by providing a stable base for the financing of Chinese economic development.
But the possibility of taking control or nationalization of banks in the U.S. has not been mentioned by any political figure in the U.S.
Now, the G20 will meet, “the big of the Earth”, the “developed” countries, the geniuses of finance, that is, those responsible for the crisis. They claim nothing less than attempting to agree a new global economic order but they just really pretend that we trust them, just say that I believe, it will be probably with the aim of preventing the fall of public consumption and a massive withdrawal of funds resulting from any possible widespread panic, they want to give the idea that everything is controlled: be quiet guys, we are working on this. They also want senior executives, though they are junior, can not collect more than 400,000 euros a month and not per day. and even so, comparing this figure, to two million charged to a TV presenter or between 20,000 and 30,000 charged by most part of citizenship annually, I can not imagine how hard the work is played to deserve such a reward. Because, some people have been earning $ 17,000 per hour, this is about $ 150,000,000 per year, a figure almost certainly greater than the annual budget of more than one of 198 countries worldwide.