A Quote by Peter Schiff
You have countries that have lived beyond their means, with bloated governments, huge trade deficits, and people living off the government. Then you have others where poor people are working hard and underconsuming and their governments are buying all this debt and propping up the extravagant countries. All of this has to change. There's a tremendous moral hazard involved with this system.
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I don't hold America responsible for the largely oppressive governments in the 22 Arab countries. There are repressive Arab governments that are our allies and there are those that are our nominal enemies. It doesn't make a whole lot of difference to what extent we're involved in propping up those governments.
It's good to know that the people of different countries are really concerned and involved in the movement to help Burma. I think in some ways it's better to have the people of the world on your side than the governments of the world, even if governments can be more effective in certain directions.
In a system of free trade and free markets poor countries - and poor people - are not poor because others are rich. Indeed, if others became less rich the poor would in all probability become still poorer.
One by one, these governments came undone, and were forced into IMF tutelage (and national illegitimacy) by the careening oil prices, the debt imbroglio, and falling terms of trade. The last of these governments to fall were the Communist regimes of eastern Europe, which have now gone the way of other Third World countries. The second in the cascade of bifurcations is thus symbolized by 1989.
Governments don't reduce deficits by raising taxes on the people; governments reduce deficits by controlling spending and stimulating new wealth.
If you neglect those who are currently poor and stable, you may create more poor and unstable people. There has been a tremendous concentration of donor interest in countries that are seen as particularly fragile - but it becomes harder to mobilise money for sub-Saharan, plain poor countries.
That means we get other countries to play by our rules. You add up all the countries that we have trade agreements with, we have a surplus with them. You add up the countries we do not have a trade agreement with, that`s where a massive trade deficit comes from. So our goal is to get free trade agreements, and that means we get other countries to play and live by our rules so we can level the playing field.
Why are we in this mess, now facing the prospect of economic armageddon? It's because the prevailing characteristic has been greed, and it doesn't matter whether it's individuals living beyond their means or governments living beyond their means or people seeking to get rich quick.
A considerable proportion of the developed world's prosperity rests on paying the lowest possible prices for the poor countries' primary products and on exporting high-cost capital and finished goods to those countries. Continuation of this kind of prosperity requires continuation of the relative gap between developed and underdeveloped countries - it means keeping poor people poor. Increasingly, the impoverished masses are understanding that the prosperity of the developed countries and of the privileged minorities in their own countries is founded on their poverty.
During the Cold War, the U.S. instituted a policy of sending money to governments in poor countries to buy their political loyalty. While studies show that sending aid to foreign governments creates allegiance, it does not lead to economic progress.
Governments follow their people. A great deal has to do with the vision of the leadership of governments. They have a vision, and they translate that to their people and to their counterparts in other countries. You can fulfill and achieve a great deal if you get along well as individuals, as people, as persons.
A cynic had defined aid as simply the system by which poor white people in rich countries gave money to rich black people in poor countries to put into Swiss bank accounts.
The failure so far of the governments of so many of the worlds most powerful countries in the face of such egregious unfairness ... to make the slightest progress on the issue of fair trade is hard to explain.
Governments create money and spend it into the economy by running budget deficits. The paper currency in your pocket is technically a government debt.
What you and I understand as a government doesn't exist in many African countries. In fact, what we call our governments are vampire states. Vampires because they suck the economic vitality out of their people. Government is the problem in Africa.
Governments have been ceding power to big multinational corporations in the market. We see the manifest in a variety of ways. Where governments are giving up power to big international institutions like the World Trade Organization or NAFTA, which are disabling governments' ability to protect the rights of their own people.
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