Home | About | Donate

Erasing 30 Years of Progress, Covid-19 Pandemic Could Lead to More Than One Billion People Living in Poverty: Study

Originally published at http://www.commondreams.org/news/2020/06/12/erasing-30-years-progress-covid-19-pandemic-could-lead-more-one-billion-people

3 Likes

Here’s the thing about monetarist Neo-Liberal E-CON doctrine, y’know, like Uncle Miltie Friedman went to the Mormons at BYU and assorted other True Believers of the Golden Rule preaching the Science of Greed Is Good E-CONomic policies and various doctrines (see the clips on U. of Tube from the federally subsidized Cold Warrior tour of college campuses where Milton Friedman was greeted as a rock star in the basketball arena while Dow Chemical stock soared during Vietnam war moving massive units of Agent Orange & assorted defoliants and toxic western exports as in Forced Intox)
ttps://www.youtube.com/watch?v=FHPI1emZFVg

When the time comes for the Developed Nation lenders to collect from the Developing Nation borrowers (usually corrupt elites borrow and cycle money into their personal accounts in the Developed Nations banks where bank secrecy is kept well enough to have both Hitler and Stalin along with the House of Bush, Hoovers and the Roosevelts, Reagans and Thatchers, Clintons and Blairs squirreling away a little something to get them through those rainy days), no bad paper is written off and sent to a collection agency robo-calling service.

Nope, no time for collection agencies and robo calling whoever’s occupying the looted palaces we loaned our Public Trust to.

Daddy Warbucks comes to repossess. These ain’t credit card unsecured loans. Them thar are collateralized debt obligations. When CDO’s turn into financialized innovations like Junk Bonds even you & me the taxpayers of Developed Nations and lenders of last resort could wind up on the hook for a bail-out rather than jail-out of our Privatized Profiteers.

Don’t forget the first commandement of Neo-Liberal E-CONomic doctrine that U.S. Paleo-Conservatives converted to Neo-CON doctrine when they gave up their Protectionist and America First Nonsense and became trans national Free Traders. First commandment is from Kissinger & Associates the others from Harvard Business School’s GOLDEN PASSPORT program:

  1. Nation states have no friends or enemies. Nation states have only interests.
  2. Free enterprise depends on the socialization of all costs and risks while all profits are to be privatized.
  3. Greed and selfishness exist as the dominant mode in humans as apex predators. Any other imperative is pinko commie socialism and like other “vague ways to organize capital” are too weak to survive Free Market pressures controlled by our reserve currency’s central bank.

Now go and read Nomi Prins, a former successful Goldman Sachs analyst and trader was she, which presumably earned her the freedom to do some truth telling in her book after the Wall Street\London collapse of the Anglo Saxon Responsible Financial Services Supermarkets dba the Global Capital Market: IT TAKES A PILLAGE (as classic a retort to that patron of Goldman Sachs and sometime payroll asset, Hillary Clinton’s quote of the African adage “It Takes A Village…”

Yes, Madame Secretary of State after serving as U.S. Senator from Wall Street Hillary Clinton, whose son-in-law Marc Mezvinsky’s Eaglevale Partners Hedge Fund was established through the kind auspices of Goldman Sachs) ttps://www.youtube.com/watch?v=EMjRI8wIMLg

Mitch Ritter\Paradigm Sifters, Code Shifters and Song Chasers
Lay-Low Studios, Ore-Wa
Media Discussion List

2 Likes

What I find to be the case with official reports is that they almost always understate the bad news, and almost always exaggerate any good news.
If they say up to 1 billion in poverty by the end of this, it then probably already is 1 billion or more in poverty now, with a lot more coming.

4 Likes

Oh did we get some good news?

1 Like

This was going to happen regardless of the Covid-19 outbreak. The sociopathic oligarchs want everything for themselves. The only good news in a sick and twisted way is that once they are done with us, they will go after each other.

1 Like

Pakistan and Iraq are not third world developing nations. Iraq has three distinct groups and getting the shia to provide to the Kurds is like crawling up everest without any ropes or gear.
Pakistan has the second worser people on the planet. Many nations, even in western hemisphere are much poorer.
International trade in goods, food, oil, minerals is all ok. The gambling in stock indexes, options, and financial made up investments can tip us over as 2008 did.
Poverty is in USA also.
Who do you know over 73 years old who has net worth that will last them another 10 years including their pensions and social security??
The boomers are coming and they want to maintain their high standard of living. How are we gonna do it?

1 Like

Just maybe the concept of “Progress” needs to be re-considered as our definition right now is actually leading to poverty and ultimately destruction. The capitalist model means some win, but that many more will lose and also the endless growth demanded by that model is unsustainable at best and at worst, what we are experiencing now, is actually leading to mass extinction. So the question is - what is progress?

Supposedly a 2.5 million person increase in employment in May reported in June. This supposed good news, despite the fact that nearly every week in May the news media reported increasing millions of unemployed.

The game of Monopoly is fun when everyone starts out the same; but after some time when most players are losing to the predominant fortunate dice roller, it’s no longer fun for the unfortunate dice rollers. When the game of monopoly/capitalism is played out in real life, however, the consequences for the unfortunate are real.

Common Dreams is indulging in more ruling class myth-making. COVID-19 did not and will not cause mass poverty and erase 30 years of progress. Capitalism did that and is doing that. The ruling class did that, and is doing that.

Capitalism is the virus that is killing humanity.

3 Likes

The long planned “Services Liberalization” can be verified as being expected to take a hge amount of wealth away from working people particularly targeting developed nations, because wages here are relatively high compared to the poorest “labor supplying” nations. 20 years of highly skewed economic predictions pretend that this will be a huge boon to owners on both sides of the equation. But working people throughout the world will be losers.

The big churn was planned long before COVID-19, its merely providing cover for the changes - the plans for which which can be traced back to the 1980s and the subsequent Uruguay Round…

Which is what several other people here said, youre all right, but it might be unlikely to be taken seriously unless people are provided with proof. Here there is tons of proof. Rather than fall into the powers that be movie which is the working people of the planet squbbling in a race to bid down wages for the shrinking pool of jobs (and the huge profits they view as their entitlement) we need to dump deals like GATS so we can set up alternative models again, like we could before the early 90s and its locking in of corporatism via trade deals.

~http://policyspace.xyz/@@search?SearchableText=liberalization

~http://policyspace.xyz/@@search?SearchableText=uruguay+round

~http://policyspace.xyz/documents/a-res-44-232-trends-in-the-transfer-of-resources-to-and-from-the-developing-countries-and-their-impact-on-the-economic-growth-and-sustained-development-of-those-countries.pdf/view (shows link between GATS to Odious Third World Debt )

~http://policyspace.xyz/documents/0003165-henrik.pdf/view

~http://policyspace.xyz/documents/labormobilityc13.pdf/view

~http://policyspace.xyz/external/relaxing-the-restrictions-on-the-temporary-movement-of-natural-persons-a-simulation-analysis

~http://policyspace.xyz/documents/prosperity-undermined.pdf/view

There are many more.