INFO: International New Financial Order
November 24th 2008 12:16
INFO, the new acronym for the International New Financial Order, coined by President Hu Jintao of China, (actually he stated it as a "new international financial order", but he is Chinese and would find pithy, eye catching english acronyms difficult..so I adjusted it) President Hu Jintao, addressing the APEC conference in Lima, Peru yesterday, has put into the spotlight something that needs to be urgently addressed.
Our system is wrong and needs to be fixed. If it wasn't, we wouldn't be in this mess, thanks to the unbridled greed of the top end of town, and the tacit encouragement and approval of the governments supposedly protecting the country and its people. It is the Bush administration, and previous ones, who have let things degenerate to this level.
President Hu Jintao's call for a new set of international financial regulations was in response to President George Bush's statement, which was to defend the current system.
Photo Credits: Public Domain
President Hu Jintao stated that, in regards to new financal regulations, that they need to be "fair, just, inclusive and orderly."
I believe we need to listen to President Hu Jintao!
I am a lover of democracy, I believe in freedoms, I think capitalism is great, as long as it also has a 'social conscience', for only then may we achieve a reasonably balanced society, where the big end of town takes its social responsibilities seriously, so we may all live in reasonable harmony, in health and safety.
Think of this, if you have qualms; the "trickle down" economics, that Republican President Ronald Reagan introduced years ago, which remained in place to this very day for Americans, has resulted in the wanton, near mortal wounding of the economic markets in America, which now has global repercussions.
What did that "genius in his own lunchtime" President George Bush have to say that prompted President Hu Jintao's counter stance?
This....
"The greater threat to prosperity is not too little government involvement in the market, it is too much." said Pres. Bush at the APEC summit in Lima Peru.
All hail the wise words of wisdom from the glove puppet of big corporate global dominance!
Photo Credit: Public Domain Caption Credit: Mountain Fog; all rights reserved.
Putting my sarcasm aside for a moment, there is a strong argument that, anything that is over regulated will make things almost impossible to achieve, business wise, in a timely and profitable manner.
I agree wholeheartedly with that sentiment.
However, the subtext of what Bush is suggesting is, leave things the way they are, leave the free open market to sort things out, leave it to them to create a new beginning financially and let the poor slob over taxed, hard working middle and lower economic class pay to bail out the criminal (for that is what they really are) investment companies and banks etc.
It is arrogance at the extreme!
These companies and banks et al, should be investigated and prosecuted for what they have done. Their business concerns should be sold up and the money go to help people in mortgage strife.
In fact, all mortgagees should have their mortgage payments suspended, while the government works out a system where they can pay off the principle at a low flat fixed rate. This will relieve the financial stress on the economy, put more spending power back into the market, in turn freeing up more disposable income for consumers to spend, this in turn helping the small business operators with turnover.
What Bush is intending to do, and has done to some extent already I believe, is bail out old friends, and a few other key corporate entities, and let them off scot free! This kind of market calamity has happened before, (and for similar reasons because of excessive greed) and it will continue to happen until we all sit down and work out a rational and fair system that applies to all, not just the power elite.
The same power elite who have proved, once again and beyond any doubt, that they are in the business to excessively enrich themselves at the expense of anyone and everything else, including at the expense of a nation, and as we now see, the rest of the global market economy.
IN CONCLUSION:
I'd like to directly quote President George W. Bush, who on August 6, 2004 told a televised meeting that;
"Our enemies are innovative and resourceful — and so are we. They never stop thinking about new ways to harm our country and our people — and neither do we." (BBC News)
This image is a work of an employee of the Executive Office of the President of the United States, taken or made during the course of the person's official duties. As a work of the U.S. federal government, the image is in the public domain.
Caption Credits: Mountain Fog all rights reserved.
Photo Credits: Public Domain
PHOTO COPYRIGHT: If any photograph on this post is not public domain and the copyright owner wishes the image removed, that will be done immediately upon receipt of proof of ownership of the copyright. Otherwise, full copyright credit and disclaimer will be placed under the photograph in question, if copyright owner agrees on a no fee free for use on this site basis, with disclaimer regarding opinions expressed on this site, if required.
Our system is wrong and needs to be fixed. If it wasn't, we wouldn't be in this mess, thanks to the unbridled greed of the top end of town, and the tacit encouragement and approval of the governments supposedly protecting the country and its people. It is the Bush administration, and previous ones, who have let things degenerate to this level.
President Hu Jintao's call for a new set of international financial regulations was in response to President George Bush's statement, which was to defend the current system.
President of China Hu Jintao
Photo Credits: Public Domain
President Hu Jintao stated that, in regards to new financal regulations, that they need to be "fair, just, inclusive and orderly."
I believe we need to listen to President Hu Jintao!
I am a lover of democracy, I believe in freedoms, I think capitalism is great, as long as it also has a 'social conscience', for only then may we achieve a reasonably balanced society, where the big end of town takes its social responsibilities seriously, so we may all live in reasonable harmony, in health and safety.
Think of this, if you have qualms; the "trickle down" economics, that Republican President Ronald Reagan introduced years ago, which remained in place to this very day for Americans, has resulted in the wanton, near mortal wounding of the economic markets in America, which now has global repercussions.
What did that "genius in his own lunchtime" President George Bush have to say that prompted President Hu Jintao's counter stance?
This....
"The greater threat to prosperity is not too little government involvement in the market, it is too much." said Pres. Bush at the APEC summit in Lima Peru.
All hail the wise words of wisdom from the glove puppet of big corporate global dominance!
Putting my sarcasm aside for a moment, there is a strong argument that, anything that is over regulated will make things almost impossible to achieve, business wise, in a timely and profitable manner.
I agree wholeheartedly with that sentiment.
However, the subtext of what Bush is suggesting is, leave things the way they are, leave the free open market to sort things out, leave it to them to create a new beginning financially and let the poor slob over taxed, hard working middle and lower economic class pay to bail out the criminal (for that is what they really are) investment companies and banks etc.
It is arrogance at the extreme!
These companies and banks et al, should be investigated and prosecuted for what they have done. Their business concerns should be sold up and the money go to help people in mortgage strife.
In fact, all mortgagees should have their mortgage payments suspended, while the government works out a system where they can pay off the principle at a low flat fixed rate. This will relieve the financial stress on the economy, put more spending power back into the market, in turn freeing up more disposable income for consumers to spend, this in turn helping the small business operators with turnover.
What Bush is intending to do, and has done to some extent already I believe, is bail out old friends, and a few other key corporate entities, and let them off scot free! This kind of market calamity has happened before, (and for similar reasons because of excessive greed) and it will continue to happen until we all sit down and work out a rational and fair system that applies to all, not just the power elite.
The same power elite who have proved, once again and beyond any doubt, that they are in the business to excessively enrich themselves at the expense of anyone and everything else, including at the expense of a nation, and as we now see, the rest of the global market economy.
IN CONCLUSION:
I'd like to directly quote President George W. Bush, who on August 6, 2004 told a televised meeting that;
"Our enemies are innovative and resourceful — and so are we. They never stop thinking about new ways to harm our country and our people — and neither do we." (BBC News)
The Prez entertaining fellow APEC delegates!
The veneer of trust and friendship seems repaired...doubt it!
This image is a work of an employee of the Executive Office of the President of the United States, taken or made during the course of the person's official duties. As a work of the U.S. federal government, the image is in the public domain.
Caption Credits: Mountain Fog all rights reserved.
Photo Credits: Public Domain
PHOTO COPYRIGHT: If any photograph on this post is not public domain and the copyright owner wishes the image removed, that will be done immediately upon receipt of proof of ownership of the copyright. Otherwise, full copyright credit and disclaimer will be placed under the photograph in question, if copyright owner agrees on a no fee free for use on this site basis, with disclaimer regarding opinions expressed on this site, if required.
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Comment by Bill Green
Talking Headlines
Comment by Mountain Fog
Infognito
Screen Trek
QUOTE ME NO QUOTES!
China is like America: it never tells you what it's really thinking.
Bill, you are so dead right about that, I guess all governments indulge in it, however, the States and China (Russia and Britiain etc no doubt) have lots of things they really need to hide!
Whereas in Oz, well, we probably lost it before we realized we needed to hide it, or some foreign spy swiped it first, replaced it with a harmless 'placebo', letting us think we are on top of everything!
I am waffling, however, it does make one wonder how much wool gets pulled over Oz eyes by its pals? We always seem to be handing over our technology for others to profit from, letting others take control of our intelligence gathering (remember the DoD selling off some radio spy network or other to Britain to control some years back?), and of course, we are always told, when we ask about getting our own space research and launch pad together, 'oh no you don't!!'
I wonder... remember the Blue Streak programme, and how spectacularly unsuccessful it was?
We never, not once, had a successful launch and recovery, and that with the Brits and Yanks there helping us... one is left wondering whether they sabotaged it, so we did not develop our own space programme...
I mean to say, look at some of the facts that have since come out regarding 'the bomb'. The Yanks wouldn't let Menzies get it, and the Brits said no because the Yanks would be angry with them.
I don't think it is a stretch to see they nobbled our space programme too...
cheers
fog