History of the Financial Crisis


May 26, 2006
By now we have all been inundated with the Global Financial Meltdown. And closer to home here in Argentina we really feel the heat with this deliberately planned robbery of the Private Sector Pension Plans. " HE THAT GIVETH, TAKETH," I suppose.

However I wonder how many really know how all this began let alone when. How many know what the IMF really is and who runs it. Who runs the World Banks? Who decides whom will eat or starve, keep working or become homeless or precisely to the point, which government will run its country and how?
What I am about to tell you is based on pure fact and not on fiction.
This tragedy actually began back in the early 50s, where the Great American consumer boom was annexed with the newly created CIA. In the domestic corner, we had the rise of asylums and electroshock therapy, while, in the outside world, we have American agents screwing with regime change. I want to introduce you to the world of the Father of all Economics , Milton Friedman and his students whom since then have participated in a new market which carried with it a new name, neoliberalism.

Neoliberalism can be best characterized as privatization, deregulation and cuts to social spending in which governments dismantle trade barriers, abandon public ownership, reduce taxes, eliminate the minimum wage, cut health and welfare spending, and privatize education as a direct result of Mr. Friedman and his agents the IMF, World Bank, the United States of America. and his personal think tank students who eventually infiltrated into many of the foreign countries they pillaged. Actually this can be ideally described as "disaster capitalism." Many of his graduates hold important posts in the IMF and especially in governments of the developing counties.

The end result of this new game ( and it is a game ) is the worldwide redistribution of income and wealth to the already rich at the expense of economic solvency for the middle and lower classes. The final curtain may well be what we now see as a global melt down of the financial sector.
These are hash words and to place the entire fault on one nation is even more difficult but the truth can no longer be hidden. America (USA) has one real enemy, one real terrorist, the country themselves as represented by those duly elected to run the affairs of such a great empire.

Let me say first off, that like all other persons on earth there are good Ameicans and bad Americans. We just need to know who the bad guys and gals are. And that is what you will learn here today.
To more fully grasp this new free economy, everyone should read what may be the most important book on economics in the 21st century, Naomi Klein's [FONT=&quot]The Shock Doctrine: The Rise of Disaster Capitalism,[/FONT] whose roots trace back the ideas of three 20th century giants.[FONT=&quot]! Anyone who wishes to know what our children will believe should read The Shock Doctrine.
There are no accidents in the world as seen by Naomi Klein. The destruction of New Orleans by Hurricane Katrina expelled many poor black residents and allowed most of the city’s public schools to be replaced by privately run charter schools. The torture and killings under Gen. Augusto Pinochet in Chile and during Argentina’s military dictatorship were a way of breaking down resistance to the free market. The instability in Poland and Russia after the collapse of Communism and in Bolivia after the hyperinflation of the 1980s allowed the governments there to foist unpopular economic “shock therapy” on a resistant population. And then there is “Washington’s game plan for Iraq”: “Shock and Awe." therapy, terrorize the entire country, deliberately ruin its infrastructure, do nothing while its culture and history are ransacked, then make it all O.K. with an unlimited supply of cheap household appliances and imported junk food,” not to mention a strong stock market and private sector.
[FONT=&quot]How capitalism came to dominate the world, from Chile to Russia, China to Iraq, South Africa to Canada,Indonesia to South Korea with the help of violent shock tactics in times of natural disaster or tragedy is a direct and deliberate action of Milton Friedman who incidenly was given the Nobel prize at one point. Ironic but true!

[FONT=&quot]It seems at once absurd to actually believe that one man, an American was able to convince the Presidents of the USA to buy into his dream of a free global market place totally privatized, however he did just that, all under one word, greed. Now, perhaps one can see the full reason behind the taking of the private pension plans here.

Ms. Klein's book is a book that I personally found to be painful to read , a truly remarkable intense research of behind the scenes operatives, a narrative tying torture to economic theory, that even the final chapter barely rouses a flickering flame of optimism. [FONT=&quot][/FONT]She has skillfully explained how Milton Friedman and his minions came to dominate world economic discourse by throwing their lot in with the ilk of Augusto Pinochet, the Junta in Argentina, Yeltsin in Russia etc, etc.

Argentina, like many other developing countries has a history of meeting every demand placed upon it by these "Chicago Boys" as they became better known. Carlos Menem came to power promising to be the voice of the working man. His legacy is his trademark. He practically privatized everthing including the national pension plan. And as Klein reports in her book, "as the country's wealth moved offshore, the lifestyles of Argentina's politicians grew increasingly lavish." This has not changed one iota today. Has it?

I could go on and on but enough said. Read the book and then all Expats here and world wide will really have something really interesting to talk about.
A word of caution, after reading the book, one may be inclined to have a deep resentment against Americans. This should not be taken as a direct hit on all Americans, but keep your focus on those who deliberately set out to destroy the whole world in the name of the almighty buck. The USA has over 300 million people and I want to say the majority are good folks. Most are just like you and I, trying to make ends meet.
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This book has been re-written in 25 languages and is available in Spanish. No legal entity in the world had attempted to sue Ms. Klein or prove her writings are ficticious.

Indeed this book will redesign the new fiscal world once we surface from this terrible crisis these people forced upon us.

regards to all
Thank you for posting this Jedard and fully believe that most of what is happening is just act 1 of many acts to follow. The world as we know it is going through a financial meltdown aided and abetted by evil elements in great power.

In the next few months there will be many suprises,
I heard Naomi Klein speak in Miami last summer while she was on book tour for her book The Shock Doctrine. Her knowledge and delivery were without precedent. What you are seeing in the world financial markets will probably end up being the title to her follow up book "Shock Doctrine II". I highly recommend this book.
Please, can we get back to discussing how to cope living abroad in Argentina! Please.

BTW, I always thought jedard was one of the moderators, so the multiple posts using different names, Im confused.

Back to chatting about Argentina and the lack of coins, horrible sidewalks, yet ANOTHER crisis coming this way.
I am not a moderator nor do I have any wish to be. Are you so dumbstruck as to type this kind of response. This section is for world events. And what I printed is for everyone, expats and Argentines to have an opportunity to understand what the hell is going on in the USA, globally and here in Argentina.
If you want to start a conversation about dog shit in the street of BA then go ahead and do so.
I do not have multiple names, just Jedard. What I print is the truth, not fiction.
I sense you are American and taken umbrage at what I have said.
Grow up, my friend or stay quiet