Why They Hate Us - The Downside of Globalization


Summary:

The advent of "Globalization" has been used as a means of empire building which has weakened the U.S. economy and government and caused massive world poverty, environmental destruction, war and terrorism.

The Way it Works:

When a poor country is identified with valuable resources, massive loans are arranged in the name of humanitarian aid. The money is mostly re-directed to U.S. companies like Halliburton, Bechtel and formerly Enron to build large infrastructure projects. These projects are primarily used to help keep the cooperating government in power. Very little of the money reaches the poor. When the loans are due to be paid back, these countries are coerced into repaying the massive debts by selling their natural resources cheaply to U.S. companies. Most of the profits from these deals never see the light of day in the U.S. economy. The profits are kept offshore in tax shelter countries like the Bahamas and Cayman Islands.

The Downside:

Meanwhile many U.S. government agencies have been gutted and replaced by cronies and PR people. Massive tax cuts for the wealthy have been used to finance the outsourcing of American jobs. The war in Iraq has been used to loot and catapult the U.S. treasury out of the U.S. As a result, both the U.S. government and economy have been purposely weakened in order to facilitate further globalization. The stock markets seem healthy because U.S. companies are making a fortune by operating in slave wage countries. However, America is loosing it's dominance in almost every category. This has been going on for a very long time but has become increasingly intense in than last 40 years.

More Bad News:

Some of the other negative side effects of this form of empire building have been massive world poverty, environmental destruction, war and more recently terrorism. To learn more about this, watch or listen to an interview with John Perkins who was recruited out of college to become a self-described "Economic Hit Man" and arranged many of these loans and was involved first hand. This is an astounding and mind opening interview.

Further Study:

How the U.S. Uses Globalization to Cheat Poor Countries Out of Trillions
Amy Goodman interviews John Perkins. Read, stream or download the audio or video:

Confessions of an Economic Hit Man
: by John Perkins

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