Sunday, February 1, 2009

Western economic hypocrisy - Asset prices, interest rates, government spending

America and western countries advised countries and regions facing crisis in the past to do following:

1. Do not prop up asset prices

2. Keep interest rates high

3. Reduce government spending

Why west is not ready to take their own medicine? Is it because it is Chinese money that America is spending?

Free market or capitalism means hegemony of rich economies. (I would not like to call America a rich economy, America is like Citibank, poor but critical to the system)

There should be more participation from poor economies in world economic affairs. World is living by fleecing poor economies especially in Africa. One day world will have to answer to the atrocities being committed against them even now.

No comments: